Emily Walker
Crypto expert Trader Tardigrade has suggested that Dogecoin could potentially soar to $20 during the ongoing bull market. This prediction was made while discussing how DOGE might repeat its past performance patterns.
Potential $20 Rally for Dogecoin
In a recent post on X, Trader Tardigrade mentioned that if Dogecoin follows its historical trends, its price could rise up to $20. He pointed out that in the past, Dogecoin saw substantial rallies after crossing previous candle high levels, achieving gains of up to 3,000% and 8,000% in 2017 and 2021, respectively.
Based on this historical context, he estimates that Dogecoin could reach approximately $20.68 if similar patterns occur. Previously, he forecasted a potential rise to $8 mimicking the 2017 surge and up to $30 if following the 2021 trajectory.
Furthermore, the analyst hinted that Dogecoin might soon initiate the next phase of its bull run. In another post, he noted a breakout from a converging triangle pattern, along with a bullish crossover indicated by the moving average convergence divergence (MACD), suggesting a possible upcoming rally for DOGE.
Additionally, crypto analyst Ali Martinez also pointed towards a positive trend for Dogecoin, mentioning in a post that the TD Sequential indicator has shown a buy signal on the hourly chart, suggesting that the popular meme coin may be ready for another upward movement.
Dogecoin’s Outlook Remains Positive
In a recent post on X, analyst Kevin Capital argued that the outlook for Dogecoin is decidedly bullish. He observed that DOGE continues to show significant growth on its 50 and 200 moving averages following a golden cross last week. He noted that the meme coin is trading above a critical macro level at $0.26 and is currently addressing the macro .786 level.
According to him, there’s no valid reason for investors to adopt a bearish stance on Dogecoin. However, he pointed out that his current focus is more on Bitcoin, as it is likely to dictate market movements. He reassured followers that the fundamentals concerning Dogecoin’s potential bull run remain intact, emphasizing that market peaks often do not occur during bearish sentiments.
Furthermore, analyst Javon Marks has also expressed optimism for Dogecoin, claiming the price could increase by at least five times its current rate.
As of now, Dogecoin trades at approximately $0.35, having experienced a decline of over 3% in the last 24 hours, as per CoinMarketCap data.