Dogecoin (DOGE) has experienced a significant rise between November 6 and November 12, followed by a period of higher-range consolidation. On November 18, DOGE completed a daily bullish engulfing candle, sparking market speculation about its next move.
According to Trader Tardigrade, Dogecoin is on track to repeat its historical price trajectory based on the Gaussian channel indicator. This suggests that if history repeats itself, DOGE could experience an incredible rally, with prices potentially reaching $0.73 or higher.
Independent trader Javion Marks believes a retest of DOGE’s previous all-time high at $9.73 is “practically imminent.” He has drawn parallels between each parabolic rise in 2016, 2021, and 2024, suggesting similar setups on each occasion.
The Gaussian channel indicator also suggests that Dogecoin could top between $3 and $5 in 2025, based on the laws of diminishing returns. Historically, DOGE has faced resistance around its previous all-time high range during breakouts, which may lead to a steady pace before rapid price discovery.
A decline in Dogecoin wallet activity over the past day is seen as a bullish sign by data analytics platform Santiment. This decrease indicates FUD and capitulation from novice traders, often followed by buying activity from larger whales and sharks holding for the long-term.
Source: https://cointelegraph.com/news/dogecoin-s-parabolic-target-is-3-5-based-on-historically-parabolic-gaussian-channel