Dogecoin Price Is Aligning With Power Of 3 Pattern, Here’s What To Expect Next

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen countless price patterns unfold before my eyes. However, the Power of Three (PO3) pattern that Dogecoin seems to be following is truly intriguing.

Crypto expert Trader Tardigrade has pointed out an intriguing trend in Dogecoin’s price fluctuations as it settles into a trading range. Based on his technical analysis, Dogecoin, often referred to as the meme coin king, is currently experiencing a manipulation phase. Notably, he has observed that Dogecoin has been conforming to the Power of Three (PO3) pattern for several weeks now, which suggests an upcoming bullish trend could be on the horizon.

Dogecoin Aligning With Power Of 3 Pattern

The Power Of 3 pattern is an interesting price pattern in technical analysis that always ends up in a strong, bullish move. This pattern outlines three critical phases; Accumulation, Manipulation, and Distribution, that collectively define the market cycles.

Regarding Dogecoin, the popular meme-based cryptocurrency, it has continued to trend downward since around the second week of December. Notable drops have pushed its value below the $0.30 mark. As suggested by Trader Tardigrade, this fall is part of a Power Of 3 pattern, which implies that any significant price increase from here becomes crucial.

As per Trader Tardigrade’s analysis, the phase of accumulation for Dogecoin spanned from early November to mid-December, following an intense surge that occurred between October and November. During this accumulation phase, the price of Dogecoin remained relatively stable within a narrow range, indicating reduced activity but strong buying interest, despite some investors cashing out their profits.

Dogecoin seems to be following the Power of Three (PO3) pattern. After spending a significant time in the Accumulation Phase, which started in early November and continued until mid-December, it shifted into the Manipulation Phase. Subsequently, the Distribution Phase, where selling pressure may increase, is projected to occur next.

— Trader Tardigrade (@TATrader_Alan) December 24, 2024

Over the last fortnight, the Dogecoin’s price trend has shifted into what appears to be a manipulation period. This phase is marked by a sudden drop in value due to heightened volatility, with a significant dip on December 20 that took the Dogecoin price down to around $0.267. Yet, this manipulation phase might signal the start of the final and most dramatic part of the pattern, known as the distribution phase.

Distribution Phase To Send Dogecoin Price To New All-Time Highs

In the climax of the “Power of 3” pattern, we find ourselves in the distribution stage, marked by a robust surge in bullish sentiment. For instance, Trader Tardigrade foresees this surge propelling Dogecoin’s value to unprecedented new peaks surpassing its current record of $0.7316. More specifically, the analyst proposes a price trajectory that could potentially drive Dogecoin up to around $0.95 during the distribution phase.

Currently, Dogecoin is being traded at $0.332, with a rise of approximately 3.5% over the past day. If the $0.95 target is reached, it would represent an approximately 186% increase from its current price. The analyst predicts that this bullish trend might occur within the first two weeks of the year 2025.

As a researcher examining the future trajectory of Dogecoin, my findings align with the broader market forecasts. Many investors and analysts are optimistic about Dogecoin surpassing the $1 mark. Although my predicted target of $0.95 falls just short of this milestone, it strongly suggests the persistent bullish sentiments surrounding Dogecoin.

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2024-12-25 21:26