Recent analysis indicates that Dogecoin could potentially reach an unprecedented high of $10. Analyst Dima James Potts supports this prediction through the 4-year cycle theory, which highlights significant growth phases during major market cycles.
Dogecoin Aiming for $10
On January 11, Potts posted a comparative analysis of three separate Dogecoin price cycles. He believes that if Dogecoin adheres to previous upward trends, it could soar to $10. This forecast is informed by the 4-year cycle theory, which is closely linked to Bitcoin’s halving events that cut miner rewards in half.
Potts disclosed that significant price movements in Dogecoin typically occur after the technical indicators—represented by the green and red trendlines—intersect. During the first cycle from December 15, 2015, to December 26, 2016, a remarkable 9,404% increase was noted, bringing the price to $0.01 after this crossover.
In the second cycle, between December 2019 and December 7, 2020, Dogecoin saw a remarkable rise of 29,626% reaching $0.5, demonstrating exponential growth compared to the first cycle.
Currently in the third cycle, Potts forecasts further parabolic growth in 2025. He predicts an impressive 11,049% increase, potentially lifting Dogecoin from its present value of $0.32 to $10.
The chart additionally predicts an even more ambitious price target for Dogecoin this year. After reaching the $10 mark, it might escalate another 40,037% to land between $30.5 and $38.5.
Potts attributes this anticipated surge to technological progress and widespread adoption of Dogecoin. Historically, the currency has performed best during the fourth year of each cycle, leading him to believe that this cycle will produce similar, substantial advancement.
Current State of DOGE
At present, Dogecoin is valued at $0.32, following a significant 20.25% decline in the last month. Earlier this January, it was on an upward trajectory bolstered by whale purchases and growing investor interest in the coin.
Since then, Dogecoin has been on a decline, experiencing a 15% drop over the past week and an additional 3.89% fall in the last 24 hours. Despite this downturn, many analysts remain positive about the future of the meme coin’s price.
Moreover, analyst Mister Crypto remarked that Dogecoin is nearing its final consolidation phase, which may lead to a “parabolic blast off.” This could see the price potentially surge to $1.5 after consolidation concludes.