Dogecoin (DOGE) Repeating Chart Pattern from 2021, Ready for a Similar Price Surge – Analyst
- 王林Original
- 2024-07-17 09:02:10739browse
Crypto analyst Trader Tardigrade has highlighted a historical pattern that led to the Dogecoin price surge in 2021. Based on his analysis, the foremost meme coin is ready for a similar price rally, which could happen soon enough.
Crypto analyst Trader Tardigrade has highlighted a historical pattern that led to the Dogecoin price surge in 2021. Based on his analysis, the meme coin is set for a similar price rally, which could begin soon.
A glance at Dogecoin’s price chart from 2021 shows a period of consolidation followed by a sharp price increase. According to Trader Tardigrade, Dogecoin is currently repeating this pattern, indicating a potential rally.
“Dogecoin repeating the same chart from 2021. Ready to go. Once the bull run returns in full force, so will Dogecoin.”
Dogecoin Surged Over 28,000% In 2021
Dogecoin had a remarkable run in 2021, surging over 28,000% and reaching an all-time high of $0.76 in May. The meme coin’s price surge was largely driven by retail traders and social media hype.
After a period of consolidation, Dogecoin fiyatı began to rise again in April, fueled by the meme coin’s inclusion in the X (formerly Twitter) Blue service. Dogecoin’s price rally continued throughout the year, reaching a new all-time high of $0.17 in December.
Crypto Analyst Predicts Dogecoin Will Surpass 2021 Peak In This Bull Run
Crypto analyst Javon Marks is predicting that Dogecoin will have a better run than it did in the 2021 bull market. He explained that in each bull run, Dogecoin has surpassed its previous peak. Considering this, Marks believes that DOGE could cross the $17 price level this time around.
“Every bull run, Dogecoin surpasses its previous peak. 2021 top: $0.76. If we multiply this by 20x, we get $15.2. However, considering the Fib Extension, it could go even higher, reaching 22.6x the 2021 top, which comes out to $17.1.”
Several crypto analysts have made bullish predictions for Dogecoin, with some suggesting that the meme coin could double digits in 2023.
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