Dogecoin has been making waves to this point on this bull market. Not too long ago, the meme coin skilled a big value crash after recording double-digit features and rallying to new highs earlier this yr. Regardless of the cryptocurrency’s declining momentum, a seasoned crypto analyst has highlighted strategic entry factors and potential upside targets for DOGE. The analyst additionally offered a radical breakdown of Dogecoin’s bullish developments for buyers contemplating shopping for the meme coin.
Analyst Shares Dogecoin Bullish Developments And Purchase Technique
In a latest X (previously Twitter) put up on February 4, crypto analyst Anbessa shared a technical evaluation of Dogecoin’s value actions and bullish developments. The analyst disclosed that he had entered the market at an early stage of $0.09, presumably as a result of conviction in its potential and for the enticing meme tradition. He claimed it was the perfect entry level, as he had caught a native backside.
Following the $0.09 entry, the asset skilled a bullish breakout, surging 5X and skyrocketing to key resistance on the 0.786 Fibonacci degree. This key degree is usually used to establish potential value reversal zones; nonetheless, on this case, it marked the start of a “throwback” transfer for Dogecoin.
After its sharp 5X rally, Dogecoin’s current value motion has entered a throwback part. Which means its value is now correcting to retest earlier assist ranges. In response to the information from CoinMarketCap, DOGE plummeted by a staggering 20.1% within the final seven days. This huge value correction marks one of many highest in 2025. Furthermore, Dogecoin’s worth plunged over 30% over the previous month.
Presenting a value chart, Anbessa has pinpointed the $0.26 value level as a vital space the place Dogecoin might discover potential assist earlier than persevering with its upward momentum. Apparently, this key assist degree additionally aligns with Dogecoin’s Ascending Channel resistance, which the dealer predicts a retest could happen.
Sharing a bullish outlook for the meme coin, Anbessa disclosed that DOGE/BTC is at the moment retesting a breakout from a long-term Falling Wedge sample on the Excessive Time Body (HTF). This sample is usually seen as a traditionally bullish construction, signaling a possible value reversal to the upside.
Anbessa has predicted that if this Falling Wedge breakout retest holds, a bullish continuation rally is predicted, doubtlessly resulting in a new all-time excessive for Dogecoin. The analyst has set his DOGE ATH goal above the 1.00 Fibonacci degree at $0.77. He additionally famous that bullish catalysts like Elon Musk’s tweets about DOGE have zero impact on the meme coin’s value motion at this present market stage.
Is Now A Good Time To Purchase DOGE?
Primarily based on Anbessa’s evaluation, Dogecoin’s latest value motion aligns with traditional bullish patterns, suggesting that its present pullback to the $0.26 degree could possibly be a shopping for alternative. If assist holds, the analyst expects DOGE to expertise one other leg up, doubtlessly reaching a brand new ATH.
Nonetheless, the market stays unstable as ever, and buyers ought to acknowledge that the majority predictions are purely speculative. As such, value actions from unstable property like Dogecoin will be unpredictable, pushed by hype, social media tendencies, public sentiment, and sudden market modifications.
Featured picture from Adobe Inventory, chart from Tradingview.com
