New Dogecoin (DOGE) price target approved by veteran trader Peter Brandt

Dogecoin (DOGE) is back in the headlines, with its price up 150% this month alone. The meme-inspired cryptocurrency, long seen as a sign that people are getting caught up in the hype, is once again drawing attention from analysts including Peter Brandt, who has traded in financial markets for over four decades.

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While Brandt initially said that the Dogecoin chart is showing an inverted head and shoulders pattern, which could mean a return to its all-time high near $0.73, other market participants have other ideas.

One follower made an interesting point: that DOGE could form a “rising flag,” a technical pattern often associated with continuation trends. Brandt said that he also takes this point of view. If the flag is ready, this could imply a price target of around $0.66, which would fit the ongoing bullish momentum.

For a cryptocurrency that started out as a joke, Dogecoin has kept market participants on their toes not only with its unpredictability outside of the crypto market, but also with the technical soundness of its price movements. Brandt’s observations, backed by decades of charting experience, lend credence to the idea that analysis around the coin is becoming increasingly sophisticated.

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It’s all speculation at the moment, but if these patterns develop as expected, DOGE is poised for another big step. A return to $0.66 or higher would be another major milestone for a coin whose market dynamics remain as unconventional as its origins.