DOGE News: Dogecoin Price Fluctuates in Ascending Triangle, Signaling Potential Volatility

Dogecoin's price is currently experiencing a correction, down by 13% in the past week. Despite a generally positive sentiment in the broader crypto market, Dogecoin has yet to break the $0.4 mark. Technical analysis indicates that Dogecoin is fluctuating within an ascending triangle, a pattern that could lead to significant price movements.

Dogecoin Price Fluctuates In Ascending Triangle, Why This Is Very Dangerous

Dogecoin’s price action is on a correction path in the weekly timeframe, with the cryptocurrency currently down by about 13% in the past seven days. Although the broader crypto market sentiment appears positive, the king of meme coins is yet to take advantage of this and push above the $0.4 mark. Technical analysis of the Doge price chart shows that the cryptocurrency is fluctuating in an ascending triangle, which could be dangerous for the price trajectory moving forward. Andrew Griffiths, a crypto analyst on social media platform X, noted that Dogecoin is currently fluctuating up and down in an ascending triangle pattern. This pattern has been in play since the middle of December, and Dogecoin has repeatedly bounced off both the upper and lower trendlines.

Dogecoin (DOGE) Price Prediction For January 25

As of January 24, 2025, Dogecoin (DOGE) is trading at approximately $0.3604. The cryptocurrency market has experienced significant volatility, with DOGE reaching an all-time high of $0.7376 in May 2021 before experiencing fluctuations in subsequent years. Dogecoin, introduced in December 2013 by software engineers Billy Markus and Jackson Palmer, began as a lighthearted project inspired by the popular 'Doge' meme featuring a Shiba Inu dog. Despite its origins as a joke, Dogecoin has evolved into a significant player in the cryptocurrency market, known for its active community and widespread use in online tipping and charitable causes. Over the years, DOGE has garnered attention from high-profile figures, most notably Elon Musk, whose endorsements have often led to notable price movements. As of January 24, 2025, Dogecoin continues to be a prominent cryptocurrency.

Dogecoin Price: Analyst Drops Comprehensive Technical Analysis, What You Should Know

Dogecoin’s price movements have been the subject of much speculation in the past few months by various crypto analysts, with many of the analyses based on its pattern repetition in market cycles. A recent analysis posted on the TradingView platform delves deeply into Dogecoin’s technical outlook with indicators such as Fibonacci levels, Elliott Wave Theory, and the Wyckoff Method to forecast both downside and upside price targets for the cryptocurrency. According to the analyst, Dogecoin’s price has been following a clear Elliott Wave structure starting from its bear market low of $0.045 in 2022 until its recent multi-year peak of $0.48 in December 2024. Interestingly, this projection suggests that the five impulse waves have been completed, indicating potential future price movements based on these technical indicators.