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Crypto analyst TradingShot has predicted that the Dogecoin price could soon record a bullish breakout. The analyst also revealed that the foremost meme coin could make a new all-time high (ATH) as it targets a rally past the current ATH of $0.73. 

Dogecoin Price Eyes Bullish Breakout To New ATH

In a TradingView post, TradingShot revealed that the Dogecoin price is eyeing a bullish breakout to a new ATH. He noted that DOGE broke above the Lower Highs trend line that started two months ago on the January 18 high. His accompanying chart showed that the target is $0.8 as the meme coin rallies to the upside. 

TradingShot stated that the natural resistance for the Dogecoin price remains technically the 1-day MA50 at around $0.3. However, with the 1-day RSI already trending upwards and the price rebounding from the recent low at the bottom of the 1-year Channel up, the analyst claimed that the new bullish leg has already started. 

He asserted that the Dogecoin price can top the Channel Up and make a higher high at $0.8 if it simply repeats the previous bullish leg. He expects this rally to be more parabolic than the previous one because, during bull cycles, every rally is generally more “aggressive” than the previous one. 

Ahead of this projected Dogecoin price rally, DOGE whales have been actively accumulating as many coins as possible as they look to position themselves. Crypto analyst Ali Martinez revealed that these whales have accumulated over 200 million DOGE in the past two weeks, showing strong confidence despite recent volatility. This provides a bullish outlook for the foremost meme coin, considering that the accumulation period usually precedes a price surge. 

DOGE Finalizing Last Stage Of Cycle 3

In an X post, crypto analyst Trader Tardigrade stated that the Dogecoin price is finalizing the last stage of cycle 3. His accompanying chart showed that the foremost meme coin could rally to as high as $6 when this move occurs. This prediction looks to be based on DOGE’s price action in the previous bull cycles, in which it recorded massive gains. 

In another post, the analyst again provided a bullish outlook for the Dogecoin price. He stated that DOGE’s Moving Average Convergence Divergence (MACD) is emerging from a triangle consolidation. The analyst added that this could lead to a massive pump for the foremost meme coin. 

His accompanying chart showed that the Dogecoin price could rally to the much-anticipated $1 level by June. Crypto analyst Master Kenobi also predicted that DOGE could reach $1.1 by June. 

At the time of writing, the Dogecoin price is trading at around $0.19, up over 4% in the last 24 hours, according to data from CoinMarketCap.

Featured image from iStock, chart from Tradingview.com

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A crypto market crash is happening, with the Bitcoin price witnessing another correction, dragging altcoins like Ethereum, Solana, and Dogecoin along with it. This price crash is due to several reasons, including Donald Trump’s fast-approaching tariffs on April 2nd, which could spark a wave of sell-offs for the crypto market.

Crypto Market Crash: Why BTC, ETH, SOL, & DOGE Are Down

CoinMarketCap data shows that a crypto market crash has happened with the Bitcoin price dropping below $87,000 and at risk of losing the $86,000 support level. Altcoins like Ethereum, Solana, and Dogecoin have also witnessed declines.

This market crash has occurred following reports that US President Donald Trump could announce auto tariffs as soon as today. This provides a bearish outlook for the crypto market, as it will again raise concerns about a trade war. Given the market uncertainty that trade wars could cause, this will likely spark a wave of sell-offs

This development could reverse all the gains that Bitcoin and altcoins recorded over the weekend and earlier in the week. The flagship crypto rallied to as high as $88,500 following reports that Trump’s tariffs wouldn’t be as severe as earlier feared.

MicroStrategy’s purchase of 6,911 Bitcoin for $584 million earlier this week also contributed to the rebound in the Bitcoin price and other altcoins. However, the crypto market crash means these crypto assets risk losing their gains from earlier in the week.

Other Reasons For The Crash

Other reasons for the crypto market crash include institutional investors looking to be derisking ahead of the Personal Consumption Expenditures (PCE), which will be released on Friday. The PCE is the Fed’s favorite inflation gauge, and it coming above expectations could spark a wave of sell-offs in the market.

Meanwhile, the market crash has occurred as the Bitcoin price looks to fill the CME gap between $84,000 and $86,000. BTC closed within this range last week Friday but pumped over the weekend and has since failed to retrace back to this level, which it closed at on the CME market. Historically, the flagship crypto

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.