In December 2024, Dogecoin entered the Gaussian Channel due to a downturn following Bitcoin crashes. Despite this bearish trigger, its entry signaled a bullish potential by offering a recovery bounce. The Gaussian Channel recently turned green on the 4-hour chart, indicating a new bullish phase might be starting for Dogecoin.
This green flash suggests a likely breakout from the channel, which has constrained DOGE for the past three weeks, with potential to break the $1 barrier. Initial resistance stands around $0.5, but successful breaching could lead to $1.4, a 200% gain from current prices.
Analysts remain optimistic about Dogecoin despite past crashes, citing historical data suggesting surges every four years. With the last in 2021, predictions for new highs in early 2025 appear consistent. One analyst expects a potential peak at $5, signaling a significant price spike soon.
Currently, Dogecoin trades at $0.383, 48% short of its all-time high. Regardless, such positive projections maintain high expectations for the token's performance, within the context of its historical fluctuations.
