A cryptocurrency analyst confirmed that dogecoin has entered the consolidation zone after a recent market rally above $0. [] $3. The analyst predicts that Dogecoin currently has a new price target of 3. [] 4, aiming for an all-time high in 2025.

According to Master Kenobi, an X (former Twitter) cryptocurrency analyst, Dogecoin has officially entered the horizontal consolidation zone. Historically, Dogecoin has followed a somewhat predictable pattern of stagnant growth stagnation, price adjustment, consolidation phase and sharp gains. These consolidation periods usually last for several weeks on average, laying the stage for the next big rise in Dogecoin, the analyst said.

In the new cycle, Master Kenobi revealed that Dogecoin had stabilized in the equilibrium consolidation zone after two weeks of adjustment, suggesting that it may be preparing for the next price shock. According to an analyst report, the Dogecoin price is consolidating at around $0. [] $31.

Analysts say external factors outside the cryptocurrency market could play an important role and could serve as a catalyst or narrative for Dogecoin's next breakthrough. As a meme coin, Dogecoin's price momentum is often influenced by changing market trends, broader sentiment, increased community engagement, and social media.

Master Kenobi Also showed a chart that pinpoints the bitcoin halving event, emphasizing that it historically has catalyzed a surge in the broader crypto market. Based on this observation, the halving of Bitcoin starting in April 2024 may provide a stronger narrative and momentum for Dogecoin to reach higher price targets after the consolidation phase.

While Kenobi * * highlights the importance of dogecoin's historical model to current price movements, he also predicted the future direction of the meme based on chart analysis. The cryptocurrency analyst divides the Dogecoin chart into several colored trend lines, creating an upward price channel.

The blue line at the bottom of the trend channel indicates that the current price level of Dogecoin is above $0. [] $3. The green line, as a strong resistance zone, shows Dogecoin's 2021 all-time high of about $0. [] 74, with its coveted milestone exceeding $1. In addition, the yellow and red trend lines are the higher resistance levels and price targets for Dogecoin.

Master Kenobi The Dogecoin chart identifies three key price targets for the meme in 2025. 0. [] The $74 ATH is the key resistance area, and if Dogecoin can break through, it could signal a reopening of the bullish trend for its next ATH.

If Dogecoin breaks through $0. [] 74, its next bullish target will be set at $1. [] 2, in line with the yellow trend line in the chart. At this price level, Dogecoin's market value will be comparable to XRP, consolidating the meme's position in the * * cryptocurrency, analysts said.

Master Kenobi Also predicted that Dogecoin could hit the orange trend line by the end of January, representing an ambitious price target of 3. [] $4. If Dogecoin rises to this all-time high, it will outvalue Ethereum, which is currently trading at $411.2 billion, the analyst said. He further acknowledged that Dogecoin is unlikely to reach $3. [] 4 at this stage of the bull market; however, it could happen later in 2025.