According to analyst Trader Tadrigrade, Dogecoin has been moving inside a long-running symmetrical triangle that echoes a setup seen in 2016–2017. Based on reports, the analyst used a two-month chart to compare current price action with the buildup that preceded a breakout in March 2017.
Back then, DOGE climbed from about $0.0003 to $0.0194 by January 2018, a rally of 7%. Traders pointing to that episode say the current narrowing range looks familiar and could set the stage for a notable move.
Market Moves This Month
DOGE is trading at around $0.18 at the time of writing after a 20% drop so far this October. That decline contrasts with recent Octobers: a 40% rise in October 2024, a 10% gain in October 2023, and a 100% jump in October 2022.
Prices have been compressing inside the triangle since late 2024, and the tighter range has increased talk among chart watchers that a breakout may be near.
Targets After A Breakout
Analysts who favor the pattern point to a first target near $3.90, which would represent about a 2,000% gain from current levels if reached. Other, much bolder projections are also being shared.
One chart shown by bulls extends toward $48 — a 26,500% rise — which, if circulating supply stayed near 151 billion tokens, would imply a market value near $7 trillion. That number would dwarf most global asset classes and is widely seen as highly unlikely.
Reports have also referenced an $18 forecast last month, a level that would make many holders wealthy if it materialized, but it remains a long shot.
Technical Patterns Versus Broader Forces
Pattern recognition can offer a clear rule for traders, but charts do not capture everything that drives price. Liquidity levels, investor interest, moves in Bitcoin, and shifts in social attention all affect how far any rally can run.
For a multi-thousand percent surge to happen, sustained buying and extended public attention would be required. At present, the view rests primarily on a visual similarity between past and present setups rather than on independent signals that a major rally is guaranteed.
Featured image from Pexels, chart from TradingView
Source: https://www.newsbtc.com/altcoin/dogecoin-flashback-mirror-move-hints-at-record-breaking-surge/
