February 4, is shaping up to be a pivotal day for the Dogecoin price, as a crypto analyst forecasts a possible bullish trend. Historically, this date has proven to be a significant moment for the meme coin, igniting a major breakout to the upside. With Dogecoin’s recent price action hinting at a possible shift, the analyst is left wondering if Dogecoin can mirror previous trends and initiate a similar price breakout.
February 4th: A Big Day For Dogecoin?
Over the past year, Dogecoin has followed a peculiar trend, experiencing major price movements at exactly 183-day intervals. Crypto analyst, Master Kenobi disclosed on X (formerly Twitter) on January 10 that Dogecoin had begun a strong uptrend on February 4, 2024, climbing within a well-defined ascending channel.
A closer look at the analyst’s price chart reveals that the meme coin experienced a breakout on February 4, 2024. Exactly six months later (183 days), on August 5, Dogecoin witnessed one of its most dramatic drops of the year. This massive correction had pushed the price of DOGE almost precisely where its value was when it first started its uptrend in February.
With February 4, 2025, approaching, Master Kenobi is closely watching to see if Dogecoin’s historically bullish pattern will repeat. Technical chart analysis shows that the DOGE price has maintained a bullish structure, trading within a long-term ascending channel.
The meme coin’s price action also mirrors the consolidation observed during the previous breakout. Currently, Dogecoin is holding steady, consolidating near a key support level at $0.33, marked by the green trendline. Based on his price chart, Master Kenobi has highlighted the potential for the meme coin to mirror past trends and initiate a massive price rally to new highs. The analyst has set a bullish target around the $0.6 level, representing a potential 81.8% surge from the meme coin’s current market value.
Although historical trends can provide insights into potential future price movements, Master Kenobi emphasizes taking his predictions with a grain of salt. He acknowledges that his analysis is mere ideas and observations intended to help provide a comparative perspective to traders and investors. He warns that investors should not treat his forecasts as a “life or death gamble” but rather an informative guide.
DOGE Targets $0.36 After Triangle Breakout
According to a new analysis by prominent crypto analyst Ali Martinez, the Dogecoin price is targeting a new resistance level of $0.36. In December last year, the price skyrocketed well above the $0.4 mark, aiming to break its ATH of $0.74.
After its explosive price rally, the meme coin experienced a significant pullback, dropping to trade at $0.32 currently. Based on CoinMarketCap’s data, Dogecoin has recorded another price decline, plummeting by approximately 7.6% in the past week.
Despite this seemingly bearish performance, analysts like Martinez remain bullish. He has identified a new change on the Dogecoin price chart, revealing that the meme coin has successfully breached a Symmetrical Triangle pattern. The meme coin broke above the triangle pattern when its price surpassed the $0.329 mark.
After this new break out, Martinez predicts DOGE could initiate a 9.38% rally, potentially regaining the losses incurred over the past week. This upward momentum could elevate the price to the new target of $0.36.
