Dogecoin Price Could Hit Double Digits If It Follows These Historical Patterns
Crypto analyst Trader Tardigrade has predicted that the Dogecoin price could hit double digits if it repeats historical patterns from the 2017 bull run. The analyst had previously predicted that Dogecoin could rally as high as $8.7 if it mirrors the 2017 bull cycle.
In-Depth Analysis
In an X post, Trader Tardigrade revealed that Dogecoin may have formed two sub-cycles in a cycle. If that is the case, the crypto analyst claimed that the upcoming DOGE bull run in 2025 would follow the 2017 bull run, which also had two surges. The analyst’s chart shows that the Dogecoin price could reach as high as $30 if it records this second surge, just like in 2017.
The Dogecoin price enjoyed two bull runs in 2017. In the first cycle, it rallied to as high as $0.00850 before cooling off. Following the consolidation period, it witnessed a more parabolic rally, surging to $0.01. Trader Tardigrade indicated that something similar could be playing out again.
The Dogecoin price witnessed a massive bull run between October and November, recording a gain of over 200% during that period. However, the foremost meme coin has since cooled off and has been consolidating within the $0.4 range. If DOGE is to replicate the two sub-cycle surges from 2017, that suggests a more parabolic rally lies ahead.
Chart Analysis
DOGE is currently trading at $0.44. The chart shows that the meme coin is consolidating within the $0.4 range and could be due for another parabolic rally. The analyst’s prediction suggests that the Dogecoin price could reach $30, which would represent a significant increase from its current level.
A New ATH Is Imminent
Analyst Justin Bennett recently predicted that a new all-time high (ATH) is imminent for the Dogecoin price. In an X post, he stated that a new DOGE ATH seems like a formality at this point. He remarked that the foremost meme coin consolidated nicely on the daily chart.
The analyst shared a daily and weekly chart analysis, which showed that the Dogecoin price could rally to $0.76 on this next leg up. The weekly chart showed that Dogecoin could even break the resistance at this level and further rally to $1.6. Meanwhile, On the daily chart, the meme coin could reach $0.85 after breaching the $0.76 resistance.
It is worth mentioning that the Dogecoin price is already currently enjoying some bullish momentum again after Elon Musk shilled DOGE in a recent meme which he posted on his X platform.
Conclusion
In conclusion, the Dogecoin price is expected to reach double digits if it repeats historical patterns from the 2017 bull run. The crypto analyst’s chart shows that the meme coin could reach as high as $30 if it records this second surge, just like in 2017. With the current price trading at $0.44, there is potential for a significant increase in the near future.
FAQs
Q: What is Trader Tardigrade’s prediction for the Dogecoin price?
A: Trader Tardigrade predicts that the Dogecoin price could reach as high as $30 if it records this second surge, just like in 2017.
Q: What is the current price of Dogecoin?
A: The current price of Dogecoin is $0.44, according to data from CoinMarketCap.
Q: What is Justin Bennett’s prediction for the Dogecoin price?
A: Justin Bennett predicts that a new all-time high (ATH) is imminent for the Dogecoin price, and the meme coin could rally to $0.76 on this next leg up.
Q: What could cause the Dogecoin price to increase?
A: The Dogecoin price could increase if it repeats historical patterns from the 2017 bull run, which saw a significant increase in price. Additionally, bullish momentum after Elon Musk’s recent post on his X platform could also contribute to the increase in price.
Q: Is the Dogecoin price expected to reach $30?
A: According to Trader Tardigrade’s prediction, yes, the Dogecoin price is expected to reach $30 if it records this second surge, just like in 2017.
