Tardigrade: Dogecoin targets growth to $ 12

Interest in Dogecoin DOGE $0.21 Binance-Peg Dogecoin -7.78% Market capitalization $0.53 billion VOL. 24 hours $0.27 billion is growing amid new technical signals pointing to a possible wave of price growth. Analysts have noted both short-term and long-term signs of a new bullish trend, with a potential target of $ 12 within the current market cycle.

A trader under the pseudonym Tardigrade claims that Dogecoin is repeating the characteristic cycle for the third time: accumulation phase — breakout — growth. Based on logarithmic models, he expects a potential price jump to $ 3−12, similar to the rises in 2017 and 2021. All of these rises came after a long period of consolidation and a gradual recovery in trading volumes.

The monthly chart of DOGE shows a «rounded bottom» shape, a pattern that has preceded significant breakouts in previous years. The current structure indicates a new phase of accumulation with a potential breakout in the future. Analysts point to the steady growth of trading volumes, which confirms the interest of buyers.

Dogecoin’s historical cycles show an increase in profitability: the first rise yielded 80x, the second — 240x. The next one, according to analysts at Bitcoinsensus, could provide a 140x increase. Currently, DOGE is trading above $ 0.22, and if interest in meme coins continues, further growth is expected.

On shorter timeframes, a buy signal from the TD Sequential indicator at $ 0.224 could mean a quick rebound. A bullish engulfing candlestick formation has also formed, which often precedes local breakouts. In this case, the immediate targets may be $ 0.229 and $ 0.232, and in the longer term, $ 0.29, $ 0.65, and even more than $ 1.