Bitrabo Editorial
Crypto analyst Trader Tardigrade has highlighted an intriguing historical trend in the Dogecoin market that has caught the attention of the crypto community. He suggests that this pattern indicates a potential bullish phase for the popular meme currency, detailing likely future developments.
Dogecoin Mirrors 2020 Reversal Box Pattern
In a post on X, Trader Tardigrade pointed out that the current trajectory of Dogecoin resembles a prior ‘Reversal Box’ move from 2020. He noted that the recent price behavior closely mirrors past movements, with DOGE setting three higher lows and now breaking through key resistance. Previously, in 2020, the coin underwent a similar pattern before skyrocketing to its peak value of $0.73.
The analyst’s chart suggests a forecasted rise for Dogecoin, potentially reaching $0.70 following the recent formation of higher lows. However, he believes this price may not be the peak during the current bullish phase. Last month, he anticipated that DOGE could surge to $3.7 by 2025.
Kevin Capital, another self-proclaimed Dogecoin analyst on X, similarly forecasted a potential peak for Dogecoin at $3.80. He echoed Trader Tardigrade’s sentiment regarding an imminent price breakout, noting that for only the third time in history, there was a green turn in the 2-week money flow for DOGE. Previous occurrences of this indicator led to significant upward movements for the coin.
Price Expectations: Could DOGE Reach $12?
Crypto analyst Master Kenobi has also provided insights on Dogecoin’s price trajectory, predicting a potential increase to $12 during this bullish cycle. He suggested that the market is currently in the midst of a 91-day period leading to a significant breakout past the coin’s last all-time high.
According to Master Kenobi, the current chart patterns are reminiscent of the 2021 bull run, indicating that Dogecoin may be on the verge of a significant price increase, possibly reaching $0.55 in the near term. He warned that developments could occur at a rapid pace and projected a potential increase to $1 and even $2.70 before the end of the year.
Additionally, the ascent to $12 is forecasted around July 2025, which might signal a peak for Dogecoin. Analyst Dima James has also noted parallels between the current market cycle and 2021, predicting Dogecoin could climb to $10.
As of now, Dogecoin’s price is approximately $0.145, reflecting a decline of over 1% in the last 24 hours, according to CoinMarketCap.