Analyst Forecasts Dogecoin Bull Run After 3 Months; Eyes 4x Surge To $10

The popular crypto analyst Trader Tardigrade recently shared some in-depth analysis on the waves of Dogecoin price dynamics. With a great eye on market cycles, Tardigrade brought to the fore an interesting pattern that DOGE has been in and out of for a 36-40-month period before eventually going back to its previous ATHs.

Notably, in September 2024, Dogecoin marks 40 months since its last all-time high, which could also suggest a rise in bullish momentum. Comparing the historical setups with the previous cycles, Tardigrade expects a solid Bull Run period over the next three months for Dogecoin.

On the other side of the chart, reflecting on DOGE’s journey, its peak was marked by a record-high price of $0.7316 reached on May 8, 2021, a testament to its resiliency in the crypto sphere that remains. Presently, the current valuation pins a decline of 80.26% from this ATH, which underscores the ongoing evolution across the markets.

Dogecoin now trades at $0.145789, with a 24-hour trading volume of $58.89 billion and a market capitalization of $21.06 billion. Despite a decrease of 8.99% over the last 24 hours, DOGE remains one of the most prominent players in the cryptocurrency market.

Although the general market sentiment could be leaning bearish on Dogecoin in the short term, it is important to note that this is closely linked to the retracement in price that Bitcoin has recently experienced from its pivotal support level of $70K. And so, despite these fluctuations, the crypto community steadfastly waited for what Dogecoin would do.

Analyst Predicts 4x Surge to $10 For Dogecoin

Despite a recent dip in its price, DOGE is set for a huge bull run. With the altseason just around the corner, DOGE is set to scale unchartered territories. This momentary correction has not impacted the value of DOGE or its strength to break market expectations.

In a recent analysis, a well-known crypto analyst, JAVON MARKS, shared a highly optimistic outlook for Dogecoin (DOGE), suggesting that the popular cryptocurrency could be on the verge of a substantial price surge. According to the analyst, Dogecoin’s price trajectory indicates a potential rise of more than 4x from its current levels, potentially reaching $10 or higher.

The analysis is based on observing a breakout trend that has historically led to significant price increases. Dogecoin’s highest recorded price was $0.7316 on May 8, 2021. Compared to this peak, DOGE’s current price is approximately 77.84% lower. However, the analyst believes the recent breakout pattern is reminiscent of previous rallies, each larger than the last.

Related Reading |  Injective (INJ) Defies Trends: Bulls Eye New All-Time Highs Amid Market Dip 

Ammar Raza: Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.