Dogecoin has not yet reached its previous one of $ 0.74 in 2021, but many people still believe it could reach $ 1 during this market cycle. This is because they expect another strong rally in Altcoins, such as the one that happened in 2021. However, if Dogecoin follows the same pattern he did during the last two bull races, then $ 1 could be the beginning; The price could be much higher.
Dogecoin follows the family pattern: Is the story repeated?
Crypto Expert Tradigrade has observed an early similar pattern in the Dogecoin pricing table that could suggest a rapid ascending trend. This pattern resembles what happened during the last two Alcist markets, just before the price of Dogecoin took off.
As the painting shows, this pattern first appeared before the great price rally in 2017. It begins a few years before when the price of Dogecoin makes smaller maximums and then falls to test the support again. After that, the price remains stable for a while, and then the trend is broken and the price begins to increase. During the 2017-2018 upward market, this led Dogecoin to jump more than 2,000%, going from less than $ 0.00018 to more than $ 0.0075 in just a few months.
Then, in the 2020-2021 upward market, the same employer appeared again before the price rose. After a stable price period, the price of Dogecoin exploded and rose much more than before. It rose in more than 30,000%, going from less than $ 0.002 to more than $ 0.73 in a few months. That remains the highest price that Dogecoin has reached.
Once again, Dogecoin is showing a similar pattern, and it seems that it is close to another great price jump. Based on past trends and the current constant increase, this break could give even bigger returns than before. However, Dogecoin’s total value could limit how high the price can reach.
Even so, if Dogecoin has a similar price increase as he did in 2017-2018, at least he could reach $ 4 from where he is now. But according to the table of a cryptographic analyst, the price could be even higher, possibly more than $ 10, and maybe up to $ 12.
However, because there are more than 149 billion dogcoins in circulation, it is very unlikely that the price reaches $ 12 in this cycle. If I did, the total value of Dogecoin (market capitalization) would be more than $ 1.7 billion, which is higher than Ethereum, the second largest cryptocurrency, has reached.
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