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Over the past few days, Doge's trading range has been relatively narrow, showing signs of gradually increasing internal strength. Although the cryptocurrency market overall presents a mixed trend of consolidation and breakthrough, Doge remains above the support level of $0.17 and attempts to form a higher low on the weekly chart. The current price trend coincides with a technical indicator's lower low before the rebound in 2020.

ADX Pattern Repeats, Doge May Break Through

According to cryptocurrency analyst Trader Tardigrade, Doge's weekly Average Directional Index (ADX) shows a situation very similar to before its massive 36,000% surge in 2020. The chart shared on social media platform X highlights a series of ADX trends: two intermediate peaks, followed by a sharp drop to a new low.

This structure is now set to repeat in 2024 and 2025, appearing to match the ADX pattern observed during the months when Doge broke through from below $0.01 to above $0.70 in the previous bull market cycle.

This repetition is reflected in the weekly candlestick price chart below, which shows that each time the ADX curve reaches a lower low, it is followed by a double midline top, signaling the end of the price accumulation phase and the beginning of a breakout directional fluctuation. The latest ADX decline, marked with a purple arrow in the chart, coincides with the same compression phase shortly before Doge broke through multiple resistance levels at the end of 2020.

DOGE's Price Target

While past performance does not guarantee future results, the visual and structural similarity of Doge's current ADX pattern to that of 2020 cannot be ignored. The chart drawn by trader Tardigrade highlights this, with a vertical dashed line extending from the ADX low point in mid-2020 to the beginning of Doge's historic rebound, ultimately pushing the price to the all-time high of $0.7316 in May 2021. Previously, the ADX curve was almost flat before sharply rising, which is the trend recurring in the current cycle.

On the current chart, a second dashed line has been drawn from the recent ADX low point and may present a similar trajectory. This time, the predicted target far exceeds the previous high point, pointing to above $4.50. Although not completely reproducing the 36,000% increase, the implied directional strength still has the potential to bring a strong breakthrough.

At the time of writing, Doge was trading at $0.1708. If it rises to the predicted target price of $4.50, this would represent a 2,540% increase from the current price level.