Analysts say the price of Dogecoin looks "ready" and is expected to skyrocket by 5,202%.
Despite a weakening demand for meme coins, a Cryptocurrency analyst claims that the price of DOGE may experience a parabolic price pump of 5,202%. Recently, the price of DOGE has dropped significantly, failing to break through the key resistance level. However, according to this new prediction by the Cryptocurrency analyst, the value of DOGE may rise to new highs.
A cryptocurrency analyst named 'Zero' on X (formerly Twitter) expressed excitement about the price of DOGE about to pump. The analyst indicated in his post that the price of DOGE seems ready for a significant pump, possibly due to favorable market conditions and key technical indicators.
Zero shared a historical chart of DOGEPA since 2014, pointing out the periods of significant pump in DOGE price, especially during Bull Market periods after each BTCHalving event.
Analysts revealed that from 2017 to 2018, the price of DOGE surged by 9,226.49%. After experiencing the Bear Market and long periods of price Fluctuation, this meme coin saw another significant pump from 2020 to 2021. At that time, the price of DOGE soared by as much as 30,693.75%, with the current all-time high of $0.74.
Based on these bullish trends, Zero predicts that the price of DOGE may experience the next pump between 2024 and 2025. He predicts that the price of this popular meme coin could pump significantly by 5,202.19%, reaching the $5 mark. This massive value surge will effectively drive DOGE to surpass its all-time high in 2021. Furthermore, assuming this cryptocurrency can reach $5, this would represent a 50x pump from the current price of $0.139.
Looking ahead, Zero indicates that this expected price pump is a long-awaited moment for DOGE holders, indicating that people's expectations for the bull market have been increasing over the past three years. In addition to the DOGE price pump, the analyst also predicts that BTC (Bitcoin) will soar to new highs.
Many cryptocurrency market analysts seem to be very optimistic about the price prospects of Dogecoin. It is worth noting that a cryptocurrency analyst named 'CEO' told his 471,600 followers that the price of Dogecoin could soon reach a new all-time high.
Analysts revealed that DOGE's PA is repeating the reversal box pattern from 2020, indicating the potential for a breakthrough in price. In addition, DOGE is forming three higher lows and has broken through the resistance level, indicating a possible large-scale pump. The analyst shared a price chart highlighting the bullish technical indicator of DOGE, predicting that this cryptocurrency may soon continue to surge above $0.4.
(Data Source: Scott Matherson)