Top Analyst Says Good Things Take Time, Insists Dogecoin Ready to Curl Up from Here: Here’s His Price Target

Dogecoin could be raring to swing to higher prices, as a well-followed analyst has identified a string of bullish confirmations on the asset’s chart.

Momentum seems to be building on Dogecoin. The largest meme coin by market cap posted its third consecutive intraday positive close yesterday, following a broader market trend.

Dogecoin has appreciated 8.55% in its current three-day run, fueling positive sentiments of a further price uptick. A recent analysis agrees with this escalating bullish price expectation, stressing that DOGE is ready for its next leg up.

Good Things Take Time: Analyst

While Dogecoin has increased 10% in the past seven days, mirroring Bitcoin’s trend to a new all-time high, it remains 22% below its price at the start of the year. Remarkably, only Bitcoin, XRP, and Tron have had positive year-to-date price action, growing 19%, 17%, and 8%, respectively.

Meanwhile, analyst Rekt Capital encouraged Dogecoin enthusiasts to remain optimistic despite the token’s underwhelming price performance. In an X post on Thursday, May 22, he emphasized that good things take time.

Nonetheless, he identified a string of positive developments on the Dogecoin chart, signaling an impending upward price acceleration. One of which is DOGE’s successful retest of a key support area.

An accompanying DOGE 1W chart shows that the meme coin rallied from a support at $0.231 last week to an intra-week high of $0.253 before relinquishing some of its gains. On Monday, Dogecoin also retested the demand zone and received a notable lift, as it did the previous week.

With the support holding firm, Rekt Capital has identified the trend as positive for Dogecoin. Furthermore, the market watcher highlighted an early-stage higher low formation on the weekly timeframe with Monday’s downward wick.

The candlestick pattern, in addition to the momentum from the successful support retest, formed the basis for the analyst’s suggestion of a sustained bullish price development. He asserted that DOGE looks ready to curl up from here, providing possible price targets.

Possible Price Targets

His chart shows two targets for Dogecoin if bullish momentum sustains. First, he highlighted a nearly 16% upsurge from the current market price to the resistance at $0.278, a price mark last seen in February.

Ultimately, DOGE would rally further to the second target at $0.338, a 41% strout from its current price. However, Rekt Capital warns of the importance of price stability, noting that realizing these targets depends on it.

Meanwhile, several other analyses have suggested higher prices for Dogecoin. Specifically, The Crypto Basic recently reported a commentary from Chris predicting a rally to $1 amid a breakout from a long-standing resistance trendline.

Moreover, Dogecoin’s recent integration into the Solana ecosystem further boosts the mood around the asset. At the time of writing, DOGE trades at $0.246.