DOGE to Moon? What to Expect From Dogecoin Price This Week

Dogecoin Poised for a Bullish Uptober Run

Dogecoin, the pioneering meme coin, has exhibited unusual price behavior ahead of the anticipated "Uptober" bull run. Notably, the DOGE price has experienced consistent growth throughout September with minimal setbacks.

Source: CoinMarketCap

The significant breakout in late September resulted in a 25% surge, followed by a sharp decline that brought DOGE back to $11 levels. As of now, the coin trades at $0.111, with indications of an impending uptrend.

Uptober Momentum Expected

Crypto analyst Ali Martinez suggests that Dogecoin may replicate its historical bullish pattern. Martinez observes that DOGE is breaking out of a multi-year descending triangle, which has historically led to substantial price increases.

Martinez's chart analysis reveals that since 2015, DOGE has consistently surged by 200%, followed by a 60% correction. These corrections typically precede more significant bull runs.

Positive Indicators

The lack of selling pressure suggests a potential rally towards $0.17, where resistance and consolidation may occur. The increased market volume in Dogecoin signifies rising interest and liquidity, stabilizing the market and potentially preventing a sell-off.

Historical Patterns

Dogecoin's price history suggests a possible trend reversal around October 16-19.

Source: IntoTheBlock

If "Uptober" materializes this year, Dogecoin could experience a substantial price rebound, surpassing its previous monthly high of $13.