DOGE price has entered the bullish Distribution phase of the Power of Three (PO3) pattern, a structure that tracks market accumulation, manipulation, and distribution phases.
According to market analyst Trader Tardigrade, this phase could propel Dogecoin toward the $1 mark in 2025.
The PO3 pattern started at the accumulation phase of Dogecoin, which began in November 2024. The phase occurred at a time of market recovery following the U.S. presidential election.
But a price pullback in mid-December caused a short term Manipulation phase, which was marked by decline and consolidation. The January 2025 bull run is the beginning of the Distribution phase of Dogecoin.
Early 2025 Gains Boost DOGE Price Momentum
Dogecoin had a massive 252% annual growth rate by the end of 2024. However, it then struggled in December, declining by 25%.
However, DOGE posted a bearish close but a strong rebound in early 2025. In the first four days of the month, the token jumped by 23.15% after a drop in the last days of 2024.
– Advertisement –
Currently, Dogecoin is trading at $0.3852, a 15% rise in the last 24 hours. This recovery is in line with the improvement of the bullish outlook for the crypto market and supports expectations of further growth.
Furthermore, Dogecoin is making a ‘Jump The Creek’ pattern indicating the shift from the Wyckoff’s Accumulation phase to the Mark Up phase.
This is a gradual increase characterized by a break and retest at the key resistance levels. This indicates further uptrend and traders’ confidence.
As DOGE enters 2025, an accelerated price rise suggests the beginning of the ‘Blow-Off Top’ which is followed by the Distribution stage where early investors cash out.
Analysts Forecast $1 Target for Dogecoin
Several analysts have a bullish view of where Dogecoin is headed during the Distribution phase. Trader Tardigrade predicts that DOGE may hit $1, a 157% increase from current levels.
This target is derived from price history and the present bullish market structure. Similarly, the advance made by Spirit Blockchain to switch to a yield-generation model for Dogecoin was another factor that fueled the DOGE price rise.
This will improve the efficiency of Spirit’s digital asset treasury and create new income generating channels.
In addition, other analysts have made similar estimations. Javon Marks expects the initial target at $0.6533 before Dogecoin rallies past $1, possibly even hitting $1.20.
Crypto Poseidon has also pointed out that Dogecoin seems to have initiated the second leg up, which he expects to outperform the prior surge.
$DOGE (Dogecoin) is back showing MAJOR STRENGTH and can be getting ready to finish a run to its original target @ $0.6533 with another +75% increase but prices look to have enough strength behind them to break above!
With a break above, prices could push $1.20+, which is… https://t.co/HlByhSvHEC pic.twitter.com/k3vvE9MiFB
— JAVON⚡️MARKS (@JavonTM1) January 3, 2025
The historical analysis has also supported the price prediction of $1 for Dogecoin. In November 2024, DOGE rose by 160%, which means that even higher price gains are possible.
According to the experts, the same can also happen in the Distribution phase. In addition, the technical indicator of MACD, Moving Average Convergence Divergence, is also giving the bullish crossover signal because the MACD line is above the signal line.
The histogram also presents signs of positive sentiment on the increase, thus in line with the recent price rise to close to $0.38. T
his is in harmony with Dogecoin’s growth in the Wyckoff market model, raising the probability of the DOGE price forecast to hit $1.
