Dogecoin has been making waves thus far on this bull market. Just lately, the meme coin experienced a significant price crash after recording double-digit beneficial properties 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 supplied an intensive 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) post on February 4, crypto analyst Anbessa shared a technical evaluation of Dogecoin’s price movements and bullish developments. The analyst disclosed that he had entered the market at an early stage of $0.09, probably on account of conviction in its potential and for the enticing meme tradition. He claimed it was the very best entry level, as he had caught a local bottom.
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 determine potential value reversal zones; nevertheless, 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 section. Which means its price is now correcting to retest earlier assist ranges. In response to the info from CoinMarketCap, DOGE plummeted by a staggering 20.1% within the final seven days. This large value correction marks one of many highest in 2025. Furthermore, Dogecoin’s value plunged over 30% over the previous month.
Presenting a value chart, Anbessa has pinpointed the $0.26 value level as a important 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 might happen.
Sharing a bullish outlook for the meme coin, Anbessa disclosed that DOGE/BTC is at present retesting a breakout from a long-term Falling Wedge pattern on the Excessive Time Body (HTF). This sample is usually seen as a traditionally bullish construction, signaling a possible price reversal to the upside.
Anbessa has predicted that if this Falling Wedge breakout retest holds, a bullish continuation rally is predicted, probably resulting in a new all-time high 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 buying opportunity. If assist holds, the analyst expects DOGE to expertise one other leg up, probably reaching a brand new ATH.
Nevertheless, the market remains volatile as ever, and buyers ought to acknowledge that the majority predictions are purely speculative. As such, value actions from unstable belongings like Dogecoin can be unpredictable, pushed by hype, social media developments, public sentiment, and sudden market modifications.
Featured picture from Adobe Inventory, chart from Tradingview.com