Crypto analyst DOGECAPITAL predicts Dogecoin could hit $10 this cycle, citing past bull run patterns.
DOGECAPITAL made a prediction in an X post that the price of Dogecoin might reach $10 during this cycle. He indicated that he is certain that DOGE can reach this price level by referring to prior cycles as the reason for his confidence.
An observation that he made was that the weekly Dogecoin chart exemplifies the price behavior of the two cycles that came before it. His examination of this weekly chart included the observation that the top meme coin retests the same line (which he underlined on his accompanying chart) every four years before commencing the second phase of its parabolic move.
He made this observation as part of his analysis of the top meme coin. Additionally, it appears that the price of Dogecoin is performing better than it did during past bull cycles.
The expert stated that the price of DOGE increased by 3.5 times in 2024, which was substantially higher than the 1.5 times increase in 2016 and the 2.5 times increase in 2020. This was the best third-year performance for DOGE.
DOGECAPITAL went on to say that this sheds light on the reason why the current decline in the price of Dogecoin appears to be more significant than the two cycles that came before it.
On the other hand, the expert believes that DOGE will remain in the vicinity of this line on the weekly timescale, which is roughly $0.20. This prediction is based on historical data.
Following the conclusion of this period of consolidation, the cryptocurrency analyst predicted that Dogecoin will climb closer to $1.70 during the subsequent time. When the meme coin reaches the same parallel resistance level, this move will be a reflection of past cycles that occurred previously.
DOGECAPITAL recently stated that they anticipate the start of the second parabolic upward phase in the coming weeks. Trader Tardigrade, a cryptocurrency specialist, also claimed that the price of Dogecoin might soon surge to $1.
The Relative Strength Index (RSI) for DOGE has reached a significant level, which could potentially drive a big rally, as he pointed out. The expert also mentioned that the subsequent target of reaching one dollar remains unchanged.
He disclosed this info on the platform X (formerly known as Twitter), which stated that Dogecoin was following a historically bullish pattern. As a result of this, he gave the market players the assurance that there is no cause to engage in negative behavior at this degree.
DOGE’s Rally To $1 Could Happen Soon
Instead, he suggested that they concentrate on the bigger picture with regard to the price of DOGE. DOGE whales appear to be anticipating this Dogecoin price surge and are already amassing additional coins in anticipation of it going forward. In just three days, these whales have purchased 530 million DOGE, according to the findings of a crypto analyst named Ali Martinez.
