As a seasoned researcher with years of observing and analyzing the cryptocurrency market under my belt, I find myself intrigued by Philip’s assertion that Dogecoin’s price rally is merely in its infancy. With over three decades of experience watching stocks, bonds, and now digital assets, I can attest that markets often surprise us with their resilience and unpredictability.
Crypto expert Philip predicts that the surge in Dogecoin‘s price, already up by more than 300% this year, is set to continue strongly. He supports his view using technical analysis, suggesting that Dogecoin could still climb much higher.
Dogecoin Price Rally Is Still In Early Stages
In a recent TradingView discussion, Philip shared his perspective that the surge in Dogecoin prices has just begun and is still in its initial phase. Upon examining Dogecoin’s monthly chart, he pointed out that this popular meme coin remains near the bottom of its cycle and is anticipated to continue rising. Furthermore, he hinted at a triangle pattern, where Dogecoin repeatedly trades within each cycle before experiencing a significant price increase, often resembling a parabolic breakout.
Even though this significant price increase started at the beginning of the year, Philip believes that it is still in its initial phase because this extraordinary rise has historically resulted in a new peak record (ATH). However, the Dogecoin price hasn’t surpassed its current ATH of $0.73, which it achieved during the previous bull run, despite experiencing an increase of more than 300% so far this year.
Based on my analysis, I anticipate that the price of Dogecoin may revisit its current all-time high (ATH). Drawing insights from past cycles, I’m optimistic about how far this meme coin could potentially soar during this bull run. In the 2016 and 2021 bull runs, Dogecoin experienced significant price surges – roughly a 9,000% increase in 2016 and approximately 50,000% in 2021.
Accordingly, he anticipates that Dogecoin’s value may reach a level comparable to its 9,000% increase during the 2016 bull market and potentially climb to a more moderate goal of $5. This implies that Dogecoin could see a price surge of over 1,000% from its current value. At present, the main objective is for DOGE to surpass its existing all-time high (ATH).
crypto expert Alan Santana recently commented that the surge in Dogecoin’s price is simply the start, suggesting that the impressive growth Dogecoin has experienced thus far marks the beginning of an upward trend or bullish phase.
The Next Stop For DOGE Is $0.88
According to a recent post by cryptocurrency expert Trader Tardigrade, he predicts that the value of Dogecoin could potentially reach $0.88 in the near future. This estimation is based on a pattern observed in previous price surges where Dogecoin has historically doubled from its local high points. As of now, $0.44 represents the current local peak for Dogecoin, leading Trader Tardigrade to anticipate that its next local peak could be $0.88.
Simultaneously, crypto expert Kevin Capital highlighted a concealed bullish trend developing in Dogecoin’s 4-hour graph for the community. He cautioned that this was worth monitoring closely.
Currently, as I speak, the value of Dogecoin stands approximately at $0.39, having increased nearly 2% over the past day, based on information from CoinMarketCap.
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2024-11-28 06:11