Dogecoin ($DOGE) Price Could Surge Over 1,000% to Trade at $1.6 in the Future, Prominent Analyst Says

According to popular pseudonymous analyst Trader Tardigrade on the microblogging platform X (formerly known as Twitter), Dogecoin's price has been in a Falling Wedge formation

A cryptocurrency analyst has recently predicted that the price of Dogecoin ($DOGE) could increase by over 1,000% to reach $1.6 in the future as it breaks out of a Falling Wedge pattern.

According to pseudonymous analyst Trader Tardigrade on X (formerly Twitter), Dogecoin’s price has been forming a Falling Wedge, with a potential breakout now close.

#Dogecoin monthly chart shows early sign of breakout to a Falling Wedge, which kicks off the start of $DOGE season ?

The pattern is almost the same as last two cycles.

There’s no reason for this time is different.

Send $DOGE to $1.6, Doge fam ? pic.twitter.com/snqNsDpIhO

The pattern is “almost the same as [the] last two cycles,” which would mean that the price of the meme-inspired cryptocurrency could surge 1,300% from its current level at around $0.11 to $1.6, based on its previous price surges.

As reported by CryptoGlobe, DOGE whales have acquired over 1.4 billion tokens in just 48 hours to increase their wallets’ holdings of the largest meme-inspired cryptocurrency by market capitalization by more than $140 million.

According to popular cryptocurrency analyst Ali Martinez, on-chain analytics company Santiment shared the information with his over 72,000 followers on the microblogging platform X (formerly known as Twitter).

Earlier this year, Tesla and Space X CEO Elon Musk praised the potential value in Bitcoin and other digital currencies but admitted having a particular fondness for Dogecoin. “I’ve sort of got a soft spot for Dogecoin because I like dogs and memes,” he said.

Unsplash provided the main picture.

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