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An Optimistic Outlook for Dogecoin
A well-regarded cryptocurrency analyst has expressed optimism about the potential for Dogecoin, the popular meme coin, to achieve the long-anticipated $1 per coin milestone. Market analyst Trader Tardigrade suggests that this target is still feasible, especially after Dogecoin entered a bullish phase just four days into the new year.
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Why $1 Per Coin is Achievable
Trader Tardigrade believes that reaching the coveted $1 mark is realistic as Dogecoin enters the Distribution phase. According to the market expert, Dogecoin needs a substantial 157% price surge to hit the $1 level. This goal is seen as attainable because the meme coin is currently following the “Power of Three” pattern, a strategy that has previously yielded significant gains.
In a recent post, Trader Tardigrade stated, “$Doge $1 is a reasonable target in this pattern.” Despite experiencing a bearish downturn with a 25% price drop in December, Dogecoin managed a remarkable 252% price increase last year, showcasing its potential for future growth.
Understanding the Power of Three Pattern
The Power of Three pattern comprises three distinct phases: accumulation, manipulation, and distribution. According to Tardigrade, Dogecoin has now entered the Distribution phase. This pattern outlines the stages through which DOGE progresses during its market cycle.
The Accumulation Phase began in November 2024, spurred by positive market sentiment following Donald Trump’s victory in the US presidential election. Throughout this phase, Dogecoin experienced steady price increases, bolstering investor confidence.
The Accumulation phase concluded on December 17, paving the way for the Manipulation phase, which saw a dip in DOGE’s price. Despite this downturn, the Manipulation phase was crucial for preparing Dogecoin for the subsequent Distribution phase.
The Impact of Recent Market Trends
During December, Dogecoin faced a challenging period with a 25% value decline, but this phase set the stage for the current Distribution phase. In the first four days of 2025, Dogecoin began its recovery, posting an impressive 23.15% price increase.
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The Path to $1 Dogecoin
Trader Tardigrade remains confident that Dogecoin can reach the $1 target due to favorable market conditions. A 157% price increase from its current value of $0.38961 would propel Dogecoin to this significant milestone. The analyst’s bullish forecast is based on Dogecoin’s historical price movements, including a 160% surge achieved since November 2024, making the 157% increase appear realistic.
