A recent analysis suggests that Dogecoin may be on the brink of a significant price increase, with some experts predicting it could reach new all-time highs. Crypto analyst @Kev_Capital_TA shared insights on X, highlighting the potential for Dogecoin to finally surpass the $1 mark, drawing from historical price patterns and the time it typically takes for substantial price surges to occur.
Anticipation for DOGE’s Upswing
The analyst noted that historically, Dogecoin has averaged 1,095 days between notable price rallies. Given this established pattern, a similar occurrence is anticipated this year as well.
Currently, Dogecoin has surpassed this average time frame without experiencing its expected surge, which indicates a possible delay. However, this delay does not rule out the possibility of an upcoming price increase, suggesting that Dogecoin may still be on the verge of a rally.
It has now been 1,246 days since the last major surge, and this delay exceeds 150 days. On a cautious note, this extended period without upward movement may indicate a potential shift away from its historical trends.
The analyst points out that the current downward trend, coupled with being behind schedule, raises concerns about the future of DOGE. “Yes, #DOGE is 151 days overdue. The four-year cycle seems to be showing signs of breaking. Please don’t shoot the messenger; I’m just here to share this information,” he remarked.
Even so, the analysis indicates that if Dogecoin manages to launch into a new parabolic rise, the price could potentially skyrocket to $2.2 from its current level of approximately $0.10, representing a staggering increase of over 2,100%.
The average amount of days it has taken in each #Dogecoin four year cycle is 1,095 days before a parabolic surge has occurred in price. We are currently sitting at 1,246 days and price is still trending down with no parabolic surge. Yes #DOGE is 151 days behind schedule. The four… pic.twitter.com/HPOE4IruLr
— Kevin (@Kev_Capital_TA) October 5, 2024
Potential Support from Whales
Despite the deviation from the expected four-year price trend, bullish sentiment remains strong, especially among Dogecoin whales. Another analyst, Ali Martinez, highlighted that these large holders have been preparing for a potential increase in DOGE’s price.
This signals that DOGE whales still anticipate an upward trend. The outlook is bolstered by predictions that the fourth quarter of 2024 could be favorable for the overall cryptocurrency market, suggesting that if Bitcoin prices rise, Dogecoin might follow suit.
