This Chart Pattern Reveals When Dogecoin (DOGE) Final Bull Run Could Start

A chart pattern has emerged in Dogecoin's price movement, as revealed by Trader Tardigrade. The pattern suggests DOGE might be on the verge of a significant breakout reminiscent of its 2017 performance.

A chart pattern has emerged in Dogecoin's price movement, as revealed by Trader Tardigrade. The pattern suggests that DOGE might be on the verge of a significant breakout reminiscent of its 2017 performance.

An analysis shared on TradingView shows some similarities between Dogecoin's current market behavior and its historic 2017 cycle. Back then, DOGE exhibited a distinct pattern where it consolidated near its all-time high for several months before launching into a dramatic upward surge.

Looking at the current market conditions, Tardigrade's analysis reveals that Dogecoin is once again showing similar behavior. The cryptocurrency is currently in a consolidation phase near its recent all-time high.

This is similar to its 2017 pattern. The consolidation is taking place just below a key resistance trendline, creating an almost identical setup to the previous cycle.

What This Means for Dogecoin Investors

According to Trader Tardigrade's interpretation, if history repeats itself, we could see this consolidation phase continue for a couple more months before witnessing what he terms “the final Bull Run.”

Read Also: Why Is the Crypto Market Down?

The analyst points to specific chart formations that show both phases highlighted in blue boxes. The boxes show consolidation zones with a trendline connecting the all-time high to the current consolidation phase.

Tardigrade's analysis shows an interesting perspective on Dogecoin's potential future movement. However, crypto markets have evolved significantly since 2017. Many factors including broader economic conditions and changing investor sentiment, could affect the actual performance.

Follow us on TradingView, CoinMarketCap and Binance Square for more daily crypto updates.

Get all our future calls by joining our FREE Telegram group.

We recommend eToro