Back in December 2024, the price of Dogecoin entered the Gaussian channel after a sharp decline in price as Bitcoin suffered several crashes. However, even if the entry was motivated by bearish forces, Dogecoin's entry into the Gaussian Channel was bullish and showed a tendency to recover quickly from falling. This is because the Gaussian Channel can be an exit point to send DOGE towards new all-time highs.
Dogecoin's Gaussian Channel flashes green
Over the past few weeks, the price of Dogecoin has been moving in the Gaussian Channel, showing evidence of bullish but not completing the trend. However, this is starting to change because, for the first time, Dogecoin's Gaussian Channel has turned green.
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According to crypto Trader Tardigrade analyst, the Dogecoin Gaussian Channel lock recentlyand this happened on the 4-hour schedule. This development indicates that there may be an outage on the channel that has continued for the past three weeks. It also signals the beginning of an upward trend that could push the price above the hidden $1 level.
Initial targets for the price of Dogecoin from here put it at $0.5, where the highest level currently lies for the price of DOGE due to its recent high. Once a break above the resistance is achieved, the analyst's chart shows a large continuation that could push the price further.
At the top of the breakout is the $1.4 target, which is a move of over 200% from the current price. This target is in line with the analysts' target previous predictions for DOGEsaying that the major meme coin was poised to hit a new high price soon.
Analysts Bullish On DOGE Price
Despite the crash that affected the price of Dogecoin back in December 2024, crypto analysts have remained very bullish on a meme base. Crypto analyst Dima James divided in December that the price of Dogecoin could reach double digits in this cycle.
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James used historical data to support his prediction, showing that DOGE has a history of significant increases. For the most part, these increases occur on a 4-year cycle and with the last major increase occurring in 2021, it means that 2025 will be the next in the 4-year cycle . If this is correct, the price of DOGE could see a new all-time high in the first quarter of 2025.
In another analysis reported by NewsBTCa crypto analyst predicted that the price of DOGE could rise as high as $5, predicting a move of 1,500% for the meme coin. This time, the analyst puts the timeline somewhere between March and April, taking just a few months for this prediction to come true.
At the time of writing, Dogecoin was trading at $0.383, 48% lower than its all-time high price of $0.7376 recorded in May 2021.
Featured image created by Dall.E, chart from Tradingview.com
