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A well-known cryptocurrency analyst has expressed optimism about the possibility of the popular meme coin, Dogecoin, reaching the long-awaited price of $1 per coin token.
Market analyst Trader Tardigrade believes that the $1 level is still possible Doji price A rise within four days after welcoming the new year, indicating that the meme coin has entered a bullish period.
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$1 per possible currency
Tardigrade believes that reaching the long-awaited milestone of $1 for Dogecoin is plausible as the popular meme coin now enters the so-called distribution phase.
DOGE needs a 157% increase in its price to reach the desired $1 level, the market expert said, adding that the price level could be achieved soon as the meme follows the “Power of Three” pattern.
“$Doge $1 is a reasonable target in this pattern,” trader Tardigrade said in a post.
Last year, Dogecoin achieved an impressive price rise of 252%, although it faced bearish conditions in December, which sent its price down by 25%.
#Dogecoin Daily closed candle.
You have just entered the Power of Three (PO3) distribution phase 🔥$doji $1 is a reasonable target in this pattern 🚀 pic.twitter.com/AoVdmTnwOl— Slow Growth Trader (@TATrader_Alan) January 4, 2025
The power of three styles
Slow build revealed it Dogecoin You have reached the distribution phase, which is one of the three phases within the Power of Three pattern.
The cryptocurrency analyst defined the Power of Three pattern as a three-phase structure that DOGE follows throughout the market cycle. The three stages are accumulation, manipulation and distribution.
According to Tardigrade, the accumulation phase began after the price of DOGE rose significantly in November 2024, which can be linked to the optimistic outlook for the cryptocurrency market after Donald Trump’s victory in the US presidential election.
The cryptocurrency expert added that the meme currency witnessed steady rises in prices and gained investor optimism during this stage.
The accumulation phase ended on December 17, signaling the arrival of the manipulation phase, as investors saw the price of DOGE fall.
December was a bearish period for DOGE, as its price fell and consolidated, Trader Tardigrade said, adding that this phase lasted until the end of 2024.
During this turbulent period, Dogecoin lost about 25% of its value. However, the market analyst said that the manipulation phase was necessary for the meme coin because it prepared DOGE for the next phase, the distribution phase.
The distribution phase began in the first four days of 2025 as the meme moved towards recovery by posting a 23.15% price increase in those four-day swings.
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You can get 1 dollar Dogecoin
Trader Tardigrade explained that DOGE will rise to the highly anticipated price of $1 per coin due to favorable conditions at this point.
A 157% price increase will push Dogecoin to $1 from its current price of $0.38961, according to the analyst, who also stated that the meme cryptocurrency’s bullish outlook is based on past price fluctuations.
It is an achievement that the cryptocurrency analyst predicted that Dogecoin could achieve since November 2024, when the meme coin succeeded in achieving a 160% price rise. Therefore, a 157% increase seems realistic.
Featured image from Pixabay, chart from TradingView
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