Emily Walker
Cryptocurrency expert Trader Tardigrade has shared predictions about the potential rise of Dogecoin’s price, especially in light of recent bullish trends. Dogecoin has achieved the status of the sixth-largest cryptocurrency by market capitalization due to its recent performance.
Predicted Price Surge for Dogecoin
In a recent update on X, Trader Tardigrade indicated that Dogecoin could experience a price surge reminiscent of previous cycles. He speculated that if Dogecoin’s price mimics the trends seen in earlier bull markets, it could soar to $8.7 by August 2025, reflecting the patterns from its 2016 surge. If it follows the trajectory laid out during the 2021 bull run, he believes the price could reach as high as $30 by March 2025.
Notably, Dogecoin’s gains in the 2021 bull market were significantly higher than in 2016, indicating the possibility of a stronger rally this time around. Trader Tardigrade pointed out that mimicking the movements of 2021 could lead to a quicker peak in this current market cycle.
The analyst also noted a surge in the bi-monthly Relative Strength Index (RSI), drawing parallels to 2020, and highlighted that achieving $30 from its current price marks an approximate 10,000% increase. Moreover, Dogecoin has a track record of outperforming in each successive bull market, suggesting its current cycle might yield even greater gains.
Forecast for Dogecoin to Reach $10
Another analyst, Dima James, pointed out on X that Dogecoin is on track to hit $10. He observed that similar patterns of inverse head-and-shoulders have appeared prior to substantial rallies in past cycles. Specifically, Dogecoin saw a staggering 3,300% increase in 2016 after breaking through resistance, and an impressive 12,000% rally in 2021 after a similar event.
Dima James expects this pattern to repeat, suggesting traders should prepare for significant price swings and subsequent pullbacks extending into 2025. He emphasized that an uptick in trading volume could further elevate Dogecoin’s price.
The accompanying chart indicated potential for Dogecoin to climb as high as $36, surpassing Trader Tardigrade’s expectations should it repeat the 2021 market behavior. Analyst Olivier also recently forecasted that Dogecoin could rise to $32 this cycle, hinting that a new all-time high might be imminent.
As of now, Dogecoin is trading around $0.28, reflecting an increase of over 23% in the last 24 hours, according to CoinMarketCap data.