Will Dogecoin Defy September's Bearish Crypto Market Trends?

Dogecoin to Hit $0.32 Defying September Crypto Market Crash

The crypto market's September crash is a familiar tale, but Dogecoin's bullish signs are a welcome surprise. Amid widespread concerns about the notorious September downturn, Dogecoin is poised for a positive rebound, with a potential target of $0.32.

Now, traders and investors are closely monitoring Dogecoin’s movements to see if the meme coin will defy the overall bearish market trend.

Dogecoin To Hit $0.32 in Late September

As the cryptocurrency community is worried about the potential market crash in September, one coin is garnering attention- Dogecoin. While most major cryptocurrencies face a potential decline, DOGE stands out as a strong contender to buck the trend.

In a recent X post, analyst Trader Tardigrade has shared a positive impression on the meme token’s future trajectory. Identifying the formation of a symmetrical triangle pattern, the analyst posited that the token may hit $0.32 by late September.

Notably, the Dogecoin chart shows that the price is oscillating within a narrow range, forming a symmetrical triangle. According to the analysis, once the price breaks out of this pattern, it's expected to make a significant move, potentially towards $0.32 by late September.

At press time, the cryptocurrency is trading at $0.2143, down by 2.11% in a day, 9.76% in a week, and 2.92% in a month. The trading volume is also down by 8.4%, currently at $1.98 billion.

In a previous analysis, Trader Tardigrade shared a 3-month chart of the memecoin, revealing that Dogecoin has reached the final stage of cycle III. He added that the crypto is about to enter Cycle IV, anticipating a substantial price increase mirroring the explosive growth seen in Cycle II. This will potentially set the stage for the next significant leg up in the memecoin's price.

A 30% Surge Ahead?

Meanwhile, Ali Martinez, a prominent crypto market analyst, predicts that DOGE is poised for a 30% hike. In a four-hour chart, he highlighted the formation of a symmetrical triangle pattern, further bolstering Trader Tardigrade’s prediction.

Another popular voice, dogegod, forecasted that the cryptocurrency would see an ambitious 30x hike in the near term. However, the fate of DOGE hangs in the balance considering the historical trend of Sept.

Notably, the crypto market tends to face headwinds in September, with past trends showing significant downturns. Major cryptocurrencies like Bitcoin and Ethereum are predicted to record notable downfalls in the upcoming period.

DOGE’s historical performance in Sept has also been predominantly negative, with 9 out of 12 years recording negative returns. However, the recent bullish predictions have sparked optimism in the community.