Dogecoin (DOGE) is potentially looking at a 300% increase if it follows the pattern of forming a falling wedge, similar to a previous instance that resulted in a 3x pump.
Based on the analysis of chartist Trader Tardigrade, DOGE's current price of $0.24 could surge to the $0.72 zone if the breakout occurs.
The cryptocurrency has shown an upward trend after forming a diamond bottom reversal pattern, indicating a potential shift from a downtrend to an uptrend.
Institutional inflows and reduced retail outflows have contributed to the bullish momentum of Dogecoin, with recent reports of crypto whales purchasing 100 million DOGE tokens.