Dogecoin (DOGE) Price Prediction: DOGE Poised to Skyrocket By 100x, Here's the Target

Dogecoin has become known as one of the altcoins in the crypto market to put on impressive rallies with each bull market cycle.

Dogecoin has become one of the favorite altcoins among investors in the crypto market, and its price has seen some impressive rallies with each bull market cycle. Now, as anticipation builds for another bull run in the coming months, analysts are predicting another massive price surge for Dogecoin, with some expecting it to reach double-digits territory.

Dogecoin price forms historical bullish chart again

Crypto analyst Dima James Potts shared an interesting formation on the Dogecoin chart on X (formerly Twitter). This analysis considers the meme coin's previous performances in crypto bull cycles and how the price has behaved leading up to each rally.

For instance, the crypto analyst highlights that leading up to the 2017 bull market, there was an intersection between the Dogecoin bear market bottom and the bull cycle top. This formation was followed by a 9,000% rally, taking the meme coin's price from $0.00009 to $0.014.

Then, as if on cue, leading up to the next bull cycle that ended in 2021, the Dogecoin price repeated the same pattern. Once again, there was an intersection of the line leading from the bear market bottom with that leading from the bull market top, as shown in the chart.

Just like in 2017, this intersection marked the beginning of another significant rally for the Dogecoin price. Boosted by support from the likes of billionaire Elon Musk, the Dogecoin price went from below $0.015 to $0.7, completing an 18,000% rally during this time.

Now, this same pattern has returned and like before, the crypto analyst expects it to be the sign that the DOGE price is ready to go on another rally. The lines have now intersected like before. Moreover, Potts points out that there is always a price increase for Dogecoin in the third year of every cycle. This puts the start of the next bull rally sometime in 2024, before the major rally happens in 2025.

Dogecoin price to hit $10?

Applying the similar trend that has emerged to the last two bull cycles, Potts believes that the Dogecoin price is gearing up for a substantial price increase, particularly in 2025. Using the previous surges, he predicts that the DOGE price could go as high as $10.

If this happens, it would mark an around 10,000% increase from the meme coin's price of $0.1 at the time of writing. “In the first cycle (2017), Dogecoin saw a 9000% increase, and in the second (2021), it rose by 18,000%. If this trend continues, we may witness an equally impressive, if not larger, price appreciation in the third cycle,” the crypto analyst stated.

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