Dogecoin is once again nearing a historical technological inflection point. An explosive rise preceded. According to crypto charting expert and pattern analyst @TATrader_Alan, the memecoin is already completing a structural setup that has resulted in two major parabolic advances. If the pattern resolves in the same way a third time, the expected upside may be expected. Expand towards $2 levelThis represents a movement of approximately 2,000% from the broader base area.
Dogecoin’s third strong foundation
In a recent monthly timeframe analysis on X, chartists pointed What he calls a “solid base” formation will be repeated. He notes that Dogecoin completed this structure twice in previous cycles. In both cases, after the foundation building phase: Rapid vertical expansion of prices.
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The chart highlights a long-term consolidation zone where prices are compressed for an extended period of time. These zones are characterized by reduced volatility; Build up gradually and narrow the range. In previous cycles, this compression phase acted as a stored momentum. Once the price crossed the upper limit of the structure, the movement quickly accelerated into a parabolic markup phase.
The current configuration shown on the monthly chart reflects the previous formation. The price trend once again took a great deal of time to consolidate within a defined range, forming a clearly visible base. Analysts emphasize that Dogecoin is currently on the edge of this third structure, suggesting that the compression phase may be nearing completion.
Historically, the first two strongholds caused an exponential rise that dwarfed the previous strongholds. Consolidated period. This meaning is not based on short-term speculation, but on repeating structural behavior observed over multi-year cycles. The expansion measured from the previous breakout is supported when applied proportionally to the current base. Possibility of movement If similar momentum develops, it could extend into $2 territory.
Cup and handle pattern enhances breakout case
On the daily time frame, chartists further identify A classical continuation structure formed within a broader macro base. He outlines the following cup and handle pattern It is evolving in real time and reinforces a larger bullish thesis.
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According to the chart, Dogecoin formed a round bottom The price drops to around $0.08 and then gradually recovers. The rally then pushed the price to around $0.11, establishing the rim of the cup. Following that advance, prices began It is consolidating just below the resistance level.to form the handle part of the formation.
This configuration is widely regarded as a bullish continuation setup, especially when it forms within a large accumulation structure. This handle reflects short-term profit taking and controlled pullbacks. If the price decisively moves above the handle resistance level, the pattern usually predicts continued movement in the direction of the prevailing trend.
Combined with the strong multi-year underlying structure of the monthly chart, the cup and handle adds a short-term trigger mechanism to the broader breakout story. If resistance is lostmacro accumulation and classical continuation geometry adjustments would position Dogecoin in a move that could dramatically rise and validate the $2 target based on historical precedent.
Featured image from Freepik, chart from Tradingview.com
