Amidst intense stress across the broader cryptocurrency sector, Dogecoin has plummeted dramatically, dipping to around $0.327 on Wednesday. However, its possible upward momentum in this cycle remains strong, according to historical patterns, suggesting that a prolonged bull market could still be ahead.
Final Phase Of Dogecoin’s Bull Run On The Horizon?
Investors might be feeling anxious or unsure about Dogecoin following its recent price decline. Yet, as encouraging price patterns emerge, the overall sentiment for this meme-based cryptocurrency, featuring a dog motif, appears optimistic both in the short term and long term, as the current cycle continues.
Based on a thorough review of Dogecoin’s recent price trends, renowned trader and analyst Tardigrade suggests that Dogecoin’s bullish phase may extend further. According to his analysis, there is a possibility that Dogecoin’s final major bull run could be imminent.
Based on past patterns and its recent popularity within the community, it appears this forecast could indicate the start of another bull run. Historically, similar movements have signaled robust market rallies, leading some investors to predict a potential price surge.
Based on historical trends, the meme coin previously stabilized for several months around its peak prices prior to its significant surge in 2017. Interestingly, a comparable pattern seems to be developing in the current cycle as well. The 1-month chart indicates that DOGE is currently holding steady near crucial points.
If DOGE continues to produce the same outcome, Trader Tardigrade suggests that the ongoing consolidation could persist for several more months before the ultimate bull run occurs. This prediction indicates a potential rally approaching $6, which would set a new record high and potentially mark the peak of the DOGE market.
As the market’s faith increases and action heightens, crypto fans are closely watching Dogecoin’s price trend since it moves closer to significant thresholds, being a popular meme token.
Based on recent price improvements, Trader Tardigrade advises investors to stay resolute, as he believes now isn’t the moment to offload or short DOGE. This is due to the fact that Dogecoin is once again testing the peak of an Ascending Triangle pattern, which indicates a promising future for this meme currency.
As an ascending triangle forms, it typically signals a surge in positive price movement. If DOGE continues to trend upward and maintains its position above the line in the near future, we might witness a bullish breakout.
DOGE’s Next Major Rally Set In 2025
As a researcher studying the cryptocurrency market, I’ve observed a noticeable downturn in DOGE’s performance, which seems to be reflective of the broader bearish trend. However, taking a closer look at the price action, it appears strikingly similar to patterns from a year ago that were followed by an upward surge, as pointed out by KrissPax, a seasoned crypto expert.
As an analyst, I’ve observed a pattern in the asset’s movement. In November 2023, it experienced a rise, followed by a decline and consolidation, which is strikingly similar to its behavior in November 2024. Currently, Dogecoin (DOGE) is consolidating after another surge in November 2024. Given this pattern, I’m optimistic that Dogecoin might be gearing up for its next significant rally in the coming weeks.
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2025-01-09 22:11