Emily Walker
Crypto analyst Trader Tardigrade anticipates that if Dogecoin mirrors the patterns seen during the 2017 bull market, its price might soar to double digits. Previously, he suggested a potential rally that could see Dogecoin reaching $8.7 by replicating the earlier bull cycle.
Potential for Dogecoin to Reach Double Digits Based on Historical Trends
In a recent post on X, Trader Tardigrade indicated that Dogecoin might have formed two sub-cycles within a larger cycle. If true, he believes the projected DOGE bull run in 2025 could reflect the two surges seen back in 2017. His analysis suggests that Dogecoin could reach up to $30 if it experiences a similar second surge.
During 2017, Dogecoin experienced two significant bull runs. Initially, it climbed to $0.00850 before taking a pause. After a consolidation phase, it ramped up again, reaching $0.01. As mentioned by Trader Tardigrade, a comparable situation might unfold now.
Between October and November this year, Dogecoin surged over 200%, but it has since settled around $0.4. If DOGE is to follow the same two sub-cycle pattern from 2017, there may be another significant rally ahead.
According to Trader Tardigrade’s forecast, this significant rally could materialize in 2025, potentially pushing Dogecoin’s value to $30. He remains optimistic that within this market cycle, Dogecoin may achieve double-digit prices, advising investors to consider securing profits when DOGE reaches between $10 and $30.
A New All-Time High Approaches
Analyst Justin Bennett has recently suggested that a new all-time high (ATH) for Dogecoin is on the horizon. In his X post, he emphasized that a new DOGE ATH appears almost certain at this stage, noting strong consolidation in the daily chart.
His chart analysis indicates that Dogecoin could rise to $0.76 in its next upward movement. The weekly analysis suggests a possibility of breaking through this resistance level and advancing to $1.6. Meanwhile, on the daily chart, if resistance at $0.76 is breached, Dogecoin might reach approximately $0.85.
It’s also notable that Dogecoin has recently gained bullish momentum, partly due to Elon Musk promoting DOGE in a meme he shared on his X account.
As of now, Dogecoin is trading around $0.44, reflecting a more than 3% increase over the past 24 hours, according to CoinMarketCap data.
Featured image from Forbes, chart from TradingView