The Dogecoin price is racing towards its next bullish target, as an analyst projects a rise to $15 for the number one meme coin. This optimistic price forecast comes as the Dogecoin price breaks out of a legendary Bull Pennant pattern, which the analyst has indicated is a major bullish signal.

Dogecoin Price Breaks Out Of Legendary Pennant Pattern

In an X (formerly Twitter) post on November 11,  crypto analyst Trader Tardigrade disclosed a significant update on the Dogecoin (DOGE) price dynamics. According to the analyst, the Dogecoin price has officially broken out of a “Legendary Bull Pennant” pattern. 

The analyst shared a price chart illustrating Dogecoin’s price movements from 2019 to the present. Trader Tardigrade highlighted that Dogecoin began forming this unique triangle pattern in 2021, during a period of heightened popularity for the meme coin. 

However, as the analyst points out, 2024 is set to mark a major year, as the Dogecoin price has broken out of the Bull Pennant formation, signaling a new bullish phase for the popular meme-based cryptocurrency. The Bull Pennant pattern is a technical indicator often associated with a potential uptrend, and according to the crypto analyst, Dogecoin may be on the verge of a massive price rally to $15.

While this price target may sound overly ambitious to some investors, it’s important to note that in just one month, Dog

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Author: Scott Matherson