Version increment for docker images

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I am planning to build an IMAGE with the below command but the command is not executing. Could you please tell me what is the error in the below script?

IMAGE=testimage

ID=$(docker build  -t ${IMAGE} .  | tail -1 | sed 's/.*Successfully built \(.*\)$/\1/')
echo $ID
docker tag ${ID} pushdocker/${IMAGE}:${VERSION}

here pushdocker is my Docker hub namespace

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