I noticed an interesting pattern on the Dogecoin chart. Since October 2023, the price has been developing within an upward megaphone, which looks like a classic accumulation phase against the backdrop of the entire altcoin market. This resembles a pattern called the Livermore cylinder—the very trading template that Jesse Livermore came up with a century ago. Interestingly, its principles still work extremely well on modern assets.

I applied the Livermore cylinder to the Dogecoin megaphone, and although it’s not a perfect match, the main characteristics fit quite well. Clear bullish and bearish legs are visible. Right now, it looks like the market is starting an aggressive breakout above this cylinder. Technically, accumulation appears to be complete.

According to the model, the price could reach levels that would give target marks of $1.50 and $12.00. That said, $12.00 is far beyond the current cycle. But $1.50 fits within the expected timeframes and is exactly twice the previous high. It looks like an attractive option for a potential local maximum, although it’s important to keep in mind that the market may develop differently.