Analyst Predicts Dogecoin Will Surpass $4, Supports Claim With DOGE Price Analysis

Dogecoin's price has continued to rise, breaking key resistances as it moves closer to its all-time high price of around $0.73.

A crypto analyst known as The Coach XD on the X platform has made a bold prediction regarding Dogecoin's future price trajectory. With over 9K followers on the platform, The Coach XD's analysis often centers around technical price patterns to identify potential price movements. In his latest analysis, the analyst suggests that DOGE could reach $4.20 this cycle.

While acknowledging the seemingly unrealistic nature of this forecast, The Coach XD arrives at this conclusion based on his technical chart analysis. The analyst presents his case through a detailed weekly timeframe analysis of DOGE/USD.

He identifies a significant ascending channel that has contained Dogecoin’s price action over multiple years. The upper boundary of this channel extends toward the $4.20 target.

Performing a deeper analysis, the analyst highlights some breakout zones marked by downward-sloping trendlines. These zones, according to the analysis, have in the past preceded some substantial price rallies, suggesting the potential for similar movement patterns in the future.

The Coach XD's analysis also highlights past instances of parabolic growth, particularly referencing early 2021's exponential move. The analyst indicates that a comparable parabolic run could drive prices toward the projected target.

However, The Coach XD's logical mind and experience suggest skepticism, but the technical patterns indicate an inevitable move toward the target. He arrives at this conclusion based on the ascending channel and historical breakout patterns.

Reaching such levels would also require extraordinary catalysts, like potential mass adoption, a broader cryptocurrency bull market or coordinated retail interest. The projection also assumes the continuation of historical patterns and sustained market momentum.