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Dogecoin Bulls Contemplate 300% Increase After Mimicking Previous Falling Wedge Pattern
By: zycrypto|2025/05/16 04:45:06
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Following its previous footsteps of forming a falling wedge pattern, Dogecoin (DOGE) might be eyeing a monumental 300% increase if a breakout materializes.According to crypto chartist Trader Tardigrade, DOGE witnessed a 3x pump after exiting an earlier falling wedge pattern.Source: Trader TradigradeIf DOGE mimics its past ways, the apex meme coin will surge to the $0.72 zone, with its present price sitting at $0.24.Dogecoin has witnessed a notable uptrend after forming a diamond bottom reversal pattern.Trader Tardigrade had previously pointed out, “Dogecoin’s daily chart appears to be forming a “Diamond Bottom” Reversal Pattern, suggesting a potential shift for $Doge from a recent downtrend to an uptrend.”Source: Trader TradigradeA diamond bottom reversal pattern usually forms after a prolonged downtrend. It represents a psychological shift from selling pressure to buying interest.Dogecoin is already enjoying a 53.1% monthly increase to trade at $0.2492 when writing, showing that the eighth-largest cryptocurrency is already witnessing bullish momentum.Meanwhile, DOGE has been witnessing massive institutional inflows and slow retail outflows, which have contributed to its uptrend.For instance, crypto whales recently made a weekly purchase of 100 million DOGE tokens, illustrating heightened market activity.
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