Emily Walker
The current price of Dogecoin seems to be following a positive trend similar to a fractal pattern seen in 2021, suggesting a possible price breakthrough to new heights. A cryptocurrency analyst has posted a comparison chart highlighting this repeating fractal in relation to Dogecoin’s ongoing price path, forecasting a significant increase by January.
Potential for Dogecoin to Rally Above $4
In a recent post on X (formerly Twitter), Trader Tardigrade, a well-known cryptocurrency trader, suggested that Dogecoin, recognized as the top meme coin, could witness a dramatic surge past $4 by January 2025. This prediction stems from Dogecoin mimicking a key fractal that was evident during its notable price increase in the 2021 bull market.
The analyst compared two charts displaying Dogecoin’s performance from 2020 to 2021 against its movements in 2024. The right side of the graphic shows Dogecoin’s rise in early 2021 following a period of consolidation.
Leading up to the price jump, Dogecoin experienced various consolidation phases. The blue triangle signifies a local high, while the green line indicates a recovery after a drop, and the orange arc portrays a gradual consolidation period.
These specific patterns eventually resulted in a sharp rise for Dogecoin, pushing its price over $0.065 in January 2021.
According to Trader Tardigrade’s observations, Dogecoin is currently exhibiting these favorable patterns again. The blue triangle shows the formation of an initial peak, the green line indicates a price recovery, and the orange arc suggests a rounding consolidation process.
If these bullish patterns continue, Dogecoin could replicate its previous performance and see another substantial rally akin to the one in 2021. Hence, the analyst dubbed January as “the big bang month,” underscoring its significance in this market uptrend. Trader Tardigrade believes that if the fractal pattern holds, it may drive Dogecoin’s price beyond $4.
Forecast of 570% Growth for Dogecoin
Another analyst, Javon Marks, has also predicted a substantial bull rally for Dogecoin. He highlighted the value of examining historically repeating patterns to assess the future of the meme coin. Marks provided a chart illustrating Dogecoin’s price movements over three separate cycles — Cycle 1, Cycle 2, and Cycle 3.
Every cycle displays a similar consolidation structure within a descending triangle, which, when followed by a breakout, leads to significant price rises. Throughout each cycle, Dogecoin exceeded the 1.618 Fibonacci Extension level. after effectively mirroring historical consolidation trends.
Based on this framework, the recent price actions of Dogecoin in Cycle 3 reflect this ongoing pattern. If the current trend continues, Marks predicts a remarkable increase of over 570%, potentially elevating Dogecoin’s price to $2.28 or more.