Emily Walker
Analyst Olivier has predicted that Dogecoin may be just weeks away from reaching a new all-time high (ATH). He outlined the necessary conditions for the meme coin to surpass its current peak of $0.73.
Potential for Dogecoin to Achieve New ATH
In a post on X, Olivier noted that Dogecoin could approach a new ATH if it manages to rise above $0.23. Accompanying visuals suggest that the price might temporarily peak at $1.6, followed by a potential rally to $3.7.
Yet, according to Olivier’s analysis, the target of $3.7 will not be the ultimate high, as Dogecoin could eventually soar to $32 around May 2025. This optimistic outlook follows another analyst, Ali Martinez, who suggested that Dogecoin could potentially reach $23 during this market cycle.
Martinez indicated that Elon Musk, the world’s richest individual, might play a role in driving the price upward, particularly as he has influence over US president-elect Donald Trump. Musk has put forth the idea of establishing the Department of Government Efficiency (D.O.G.E) under Trump’s leadership, which may boost DOGE’s popularity.
In his latest analysis on DOGE, Martinez observed that Dogecoin is in a consolidating phase within a descending triangle pattern. He indicated that breaching the $0.198 resistance could trigger a 10% rally to around $0.220.
Initiation of the DOGE Bull Run
Trader Tardigrade, another crypto analyst, has confirmed that the Dogecoin bull run has commenced. His Gaussian Channel analysis indicates that DOGE first attempts to break free from the channel but typically retraces, supported by a mid-band. It then makes a successful exit, marking the start of the bull phase.
Tardigrade confirmed that Dogecoin has broken out of the channel and begun its rally, suggesting it could reach a minimum of $6 in this market cycle. Moreover, he has hinted at a possible $10 target, referencing a similar falling wedge pattern seen in 2021. Crypto analyst Dima James also shares the belief that DOGE can reach $10 in this uptrend.
As of now, Dogecoin is trading around $0.19, showing gains over the past 24 hours, based on CoinMarketCap data.