Dogecoin Price Replicates ‘Reversal Box’ Move From 2020, What Happens Next?

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As a seasoned researcher with a decade of experience in the cryptocurrency market, I have witnessed numerous trends and cycles that seem to repeat themselves, albeit with varying degrees of intensity. The current Dogecoin (DOGE) price action, as analyzed by Trader Tardigrade, appears to be a replica of the ‘Reversal Box’ pattern from 2020, which is undeniably bullish for DOGE.

Crypto expert Trader Tardigrade has pointed out a recurring trend in Dogecoin‘s price movement that mirrors its past behavior, which he believes is positive news for the popular meme currency. He further shared his insights on what we can expect to unfold in the near future.

Dogecoin Price Replicates Reversal Box Move From 2020

Trader Tardigrade mentioned in an X post that the Dogecoin price has repeated the move in a ‘Reversal Box’ from 2020. He added that the price action is almost the same, as DOGE has again formed three higher lows and is now breaking the resistance before the “hard pump.” In 2020, the meme coin formed these three higher lows before it broke out and rose to its current all-time high (ATH) of $0.73. 

According to the analyst’s latest chart, he anticipates Dogecoin’s price will surge to at least $0.7 following these recent lows. Yet, considering his past forecasts, it seems improbable that this would mark the peak for Dogecoin during this bull run. Last month, Trader Tardigrade speculated that by 2025, Dogecoin might reach as high as $3.7.

According to self-proclaimed Dogecoin expert Kevin Capital, the price of Dogecoin could potentially reach $3.80. He also echoed the sentiment of Trader Tardigrade that a price surge might be imminent. Kevin stated that the 2-week money flow on DOGE has turned green for just the third time ever in history. On the two previous occasions when this occurred, Dogecoin experienced a breakout and set a new all-time high (ATH).

DOGE Could Rise To $12

According to renowned crypto expert Master Kenobi’s latest analysis on Dogecoin, he predicts the price could reach $12 during this bull market run. He believes that the market is approximately halfway through a 91-day process, which is the estimated timeframe for Dogecoin to surpass its current all-time high (ATH) after breaking above it.

He said that the chart looks to be repeating the pattern from the 2021 bull run, with the Dogecoin price getting ready for a pump that could take its price to $0.55 in the short term. Master Kenobi added that things are about to move “incredibly fast.” His accompanying chart showed that DOGE could climb to $1 and even $2.7 before the year ends. 

In approximately July 2025, it is possible for the value of Dogecoin to reach around $12, which may indicate a peak for the leading meme coin according to crypto analyst Dima James. Notably, Dima James has drawn comparisons between Dogecoin’s current price action and its behavior in the 2021 market cycle, also suggesting that Dogecoin could climb to $10.

Currently, when I’m typing this, the value of Dogecoin stands approximately at $0.145. However, it has dropped by more than 1% within the past day, as indicated by information from CoinMarketCap.

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2024-10-23 00:41