Dogecoin’s Wild Ride: Will It Soar Above $10 or Just Bark at the Moon?

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So, here we are again, folks! A crypto analyst has decided to dust off their crystal ball and take a long, hard look at Dogecoin. Apparently, this meme coin is pulling a classic “look at me, I’m just like 2021!” move. If Doge can channel its inner 2021 vibes, we might just see it strut its stuff above $10. 🎉

Dogecoin Price Follows Repeating Market Cycles

Dima Potts, our resident crypto guru on X (formerly known as Twitter, but let’s be real, it’s still Twitter), has shared a post that dives deep into Dogecoin’s price history. Spoiler alert: it’s like a soap opera, but with more numbers and fewer dramatic pauses. 📈

According to Potts, Dogecoin has a knack for mimicking its past cycles every few years. It starts with a cozy little accumulation phase (think of it as Dogecoin’s version of hibernation), followed by a breakout that sends it soaring. After each price explosion, it takes a breather, only to gear up for the next big leap. It’s like a rollercoaster, but without the safety harness! 🎢

Now, let’s talk about the chart. The white lines are like Dogecoin’s long-term BFFs, guiding it since 2014. Every four years, it hits the lower trendline like it’s trying to win a game of hopscotch, leading to a price surge that makes everyone go, “Wait, what just happened?”

Back in 2017, Dogecoin hit that lower trendline and decided to party, reaching $0.01 in 2018. Fast forward to 2021, and it did the same thing, skyrocketing to an all-time high. It’s like Dogecoin has a calendar reminder for these events! 🗓️

Now, in this current bull cycle, Potts is saying Dogecoin is once again at the lower trendline. If history is any guide (and let’s be honest, it usually is), we might be on the brink of another upward reversal. Buckle up, everyone! 🚀

DOGE Predicted To Reach $10

Potts points out that these bullish reversals like to show up every four years, just like your weird uncle at family gatherings. Based on this trend, Dogecoin is looking like it’s ready to make a move. His chart suggests that if Dogecoin plays its cards right, it could hit that upper boundary of the ascending channel and maybe, just maybe, reach a jaw-dropping $10. 💰

Now, before you start planning your Dogecoin yacht party, let’s remember that it’s currently lounging around below $1. With a price tag of $0.17 and a recent 40% crash, it’s like Dogecoin is trying to do the limbo—how low can it go? But hey, analysts like Potts are still holding onto their optimism like it’s the last slice of pizza at a party. 🍕

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2025-03-18 05:13