Technical Analysis Suggests a Massive Bull Run Ahead
Dogecoin (DOGE) may be on the verge of a massive price breakout, according to crypto analyst Dima Potts. In a recent post on X (formerly Twitter), Potts highlighted a repeating market cycle that has historically triggered major rallies for the popular meme coin.
Analyzing weekly price charts, Potts pointed out that Dogecoin has followed a long-term ascending channel since 2014. This cycle consists of accumulation phases followed by parabolic surges, with each bull run occurring every four years.
DOGE’s Price Cycles: A Bullish Pattern
Dogecoin has historically rebounded off the lower white trendline of its ascending channel before experiencing a massive price rally:
- 2017: DOGE touched the lower trendline and surged to $0.01 in 2018.
- 2021: The same pattern repeated, sending DOGE to its all-time high (ATH) of $0.73.
- 2024: Dogecoin has once again hit the lower trendline, hinting at an imminent bullish reversal.
Potts suggests that if history repeats, DOGE could follow its long-term trajectory and surge past $10 during this bull cycle.
Can Dogecoin Really Hit $10?
While a 10x increase from its current price of $0.17 (as per CoinMarketCap) may seem ambitious, historical trends support the possibility.
Despite DOGE’s recent 40% drop, analysts remain optimistic, noting that meme coins often experience rapid recoveries in bull markets. However, breaking key resistance levels will be crucial for Dogecoin to enter its next parabolic growth phase.
With broader market conditions stabilizing, all eyes are now on Dogecoin’s price action. If it follows the four-year cycle, a massive rally could be on the horizon.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your own research before making any investment decisions.
Note: This article has been refined and enhanced by ChatGPT.
