Looming Parabolic Rally Could Send Dogecoin Price Over $1 And As High As $20

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As a seasoned researcher with years of experience in analyzing cryptocurrency markets, I find the predictions made by Ali Martinez and Trader Tardigrade regarding Dogecoin‘s price movement quite intriguing. The historical trends and technical analysis presented by these analysts suggest that we might be on the verge of a significant parabolic rally for DOGE, with potential targets as high as $20 if Dogecoin reaches the upper boundary of its ascending channel.

According to crypto expert Ali Martinez, there’s a strong possibility of an impending steep increase in the value of Dogecoin. If historical trends hold true, Dogecoin might surge beyond a dollar and potentially peak at around $20.

Dogecoin Price Set For Rally Above $1 

In a recent post on X, Ali Martinez presented a chart suggesting that the price of Dogecoin might surge beyond $1 if it touches the midpoint of the ascending channel. To be more precise, this midpoint sets a potential target for Dogecoin at approximately $1.9. Furthermore, if Dogecoin manages to reach the upper limit of the channel, its value could potentially skyrocket to around $20.

Martinez posted a graph hinting at past patterns, suggesting that a steep upward trend, or a “parabolic rally,” is imminent. The analyst pointed out that in 2017, when Dogecoin started its parabolic growth, it jumped by 212%, then dipped by 40%, before soaring again by an impressive 5,000%. Fast forward to 2021, DOGE experienced a 476% surge, followed by a 56% dip, and subsequently, a massive 12,000% increase.

Given its past performance, Dogecoin’s price might mirror a similar historical trend once more. Already experiencing a 440% increase in this market cycle, it then dropped by 46%. If history repeats, Dogecoin could see another significant surge like the previous 5,000% and 12,000% spikes.

As a crypto investor, I’ve been keeping a close eye on Dogecoin, and recent analysis by Crypto Analyst Trader Tardigrade suggests an interesting pattern. He notes that the price of Dogecoin has formed an ascending channel from its bottom, approaching the upper line of this channel. This alignment hints at a potential breakout, which could occur anytime soon, according to his assessment.

In January 2025, Elon Musk will take over as head of the Department of Government Efficiency (D.O.G.E), and a trader named Tardigrade has observed this development. The analyst thinks that this could potentially boost Dogecoin’s price to unprecedented levels.

A Price Rebound Is Imminent

In a recent X post, Ali Martinez suggested that a Dogecoin price rebound was imminent. He stated that the TD Sequential presents a buy signal on the DOGE daily chart, anticipating a price rebound. His accompanying chart showed that a rebound could send Dogecoin to $0.48 in the short term. 

According to Trader Tardigrade, a recovery is about to happen in the Dogecoin market. He explained that the current price movement represents the end of the first half of the second wave for Dogecoin. He pointed out that Dogecoin hasn’t yet reached the orange line on the provided chart but is getting quite close. Based on this analysis, the trader predicts that Dogecoin will resume its upward trend in no time.

Currently, as I’m typing this, the value of Dogecoin stands approximately at $0.32. There’s been a rise of more than 2% in its price within the past 24 hours, based on information from CoinMarketCap.

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2024-12-24 23:11