web3.0Dogecoin (DOGE) Trader Forecasts a Cycle Peak in Q1 of 2025 Based on Historical Analysis: 'The Real Bull Run Has Not Even Begun Yet'Dogecoin (DOGE) Trader Forecasts a Cycle Peak in Q1 of 2025 Based on Historical Analysis: 'The Real Bull Run Has Not Even Begun Yet'
Dogecoin DOGE/USD has failed to advance consistently in recent weeks, but a popular cryptocurrency trader believes the “real” bull run for the popular dog-themed
Dogecoin (CRYPTO: DOGE) has failed to advance consistently in recent weeks, but a popular cryptocurrency trader believes the “real” bull run for the popular dog-themed coin is yet to begin.
What Happened: On Wednesday, a renowned pseudonymous cryptocurrency trader known as "Kevin" shared their thoughts on the long-term prospects of the world’s largest memecoin.
In a tweet, they stated that the monthly Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are not close to their macro targets. Kevin also noted that Dogecoin’s current price structure mirrors previous cycles on a monthly time frame.
“The real Dogecoin bull run has not even begun yet,” the trader remarked. They went on to forecast a cycle peak in the first quarter of 2025 or earliest in December based on historical analysis.
Monthly RSI no where near macro target. Monthly MACD no where near target. Price structure is mirroring previous cycles on 1M time frame. The real #Dogecoin bull run has not even begun yet. Cycle top in Q1 of 2025 or earliest in December based off historical analysis. #DOGE … pic.twitter.com/DCRZmEBKi8
See Also: Peter Schiff Confronts Donald Trump And Michael Saylor’s ‘Never Sell Your Bitcoin’ Strategy: ‘What’s The Point Of Owning It?’
Why It Matters: Kevin's bullish prediction comes amid Dogecoin's unimpressive show on the price charts. According to data from Benzinga Pro, DOGE slipped 1.31% over the past week, and recorded losses of 4.2% in July.
Dogecoin is also battling bearish technical indicators, despite some traders remaining bullish on its potential compared to Bitcoin (CRYPTO: BTC).
Previously, Kevin had suggested that the altcoin season might be closer than ever, based on the latest DOGE/BTC chart.
The cryptocurrency, with a market cap exceeding $17 billion, is known for its association with Tesla (NASDAQ:TSLA) CEO Elon Musk. In a recent appearance on the X Takeover podcast, Musk said, "I've sort of got a soft spot for Dogecoin because I like dogs and memes."
Price Action: At the time of writing, DOGE is exchanging hands at $0.1212, plunging 3.34% in the last 24 hours, according to data from Benzinga Pro.
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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