The Dogecoin price chart shows a classic bull flag pattern, signaling potential upward momentum. Currently trading at $0.39, Dogecoin has consistently stayed below $0.4, indicating consolidation.
Crypto analyst KrissPax highlights this development on social media, noting that Dogecoin's price could reach $0.60 if a breakout occurs. The bull flag pattern stems from Dogecoin's price rally, with predictions of a breakout by Friday.
Reaching the $0.6 target would mark a 53% increase, representing a new 2024 high. Other analysts share this bullish outlook, suggesting prices might approach the previous all-time high of $0.73 and potentially reach $1.
On-chain data reveals Dogecoin whale addresses accumulating more DOGE, reinforcing the optimistic outlook among traders and analysts.