A new Dogecoin price analysis suggests this top meme coin could reach a new ATH of $10. An expert in the cryptocurrency market, Dima James Potts, attributes this prediction to the 4 year cycle theoryillustrating parabolic growth during each major cycle.
Dogecoin price sets sights on $10 target
On January 11, Potts shared a chart comparing three distinct cycles in Dogecoin price action. The analyst predicts that Dogecoin price could skyrocket to $10 if it follows historical bullish trends observed in previous cycles. The analyst’s forecast is based on the theory of the 4-year cycle, a term characterized by Halving Events Scheduled for Bitcoinwhich reduce mining block rewards by 50%.
Potts has revealed that Bullish Dogecoin Action during each cycle it occurred after the technical indicators (“the green and red trend lines”) crossed. In cycle 1, during the initial stage of Dogecoin market performance between December 15, 2015 and December 26, 2016, the analyst reported a massive 9.404% rise to $0.01 after crossing the line green and red trend.
In Cycle 2, which occurred years later between December 2019 and December 7, 2020, the analyst revealed that Dogecoin saw another substantial rise of 29.626% to $0.5 after the trend lines were crossed. This considerable price increase represents exponential growth compared to the first cycle.
The cryptocurrency market is in the fourth year of cycle 3 and Potts anticipates greater parabolic growth in 2025 based on similar trend patterns. It predicts that Dogecoin will experience an increase of 11,049% in 2025, marking a substantial increase from its current market value of $0.32 to $10. all-time high.
On the chart, the analyst issued a pair highest price target for Dogecoin this year. He indicated that after a possible rise to the $10 target, Dogecoin could see another massive 40,037% surge to reach a price level between $30.5 and $38.5.
Potts mentioned that during this cycle, the bullish rise in Dogecoin price will be driven by technological advancements and global adoption of the most important meme coin. He also noted that historically Dogecoin’s performance was the highest during the fourth year of each cycle. As a result, he believes this current cycle would see similarly substantial growth.
Update on DOGE price action
Dogecoin is currently trading at $0.32 after experiencing a massive 20.25%. price drop during the last month. In early January, the cryptocurrency appeared to be rising significantly, driven by whale accumulation and growing investor demand for the meme coin.
Since its previous surge, Dogecoin has seen a pullback, falling 15% in the last seven days and another 3.89% in the last 24 hours. Despite this bearish behavior, analysts remain optimistic about The future price trajectory of the meme coin..
In particular, Mister Crypto, analyst at fixed that Dogecoin is currently in its final consolidation phase before a “parabolic takeoff.” The analyst suggests that Dogecoin could see a massive price surge to $1.5 once this consolidation ends.
Featured image created with Dall.E, chart from Tradingview.com
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