Dogecoin has established itself as a noteworthy altcoin in the volatile cryptocurrency market, consistently showcasing impressive rallies during bull market cycles. This has garnered significant interest from investors, and the current cycle is no exception. With expectations of another bull run in the near future, analysts are anticipating a substantial surge in the Dogecoin price, potentially pushing it into the double-digit range.
Historical Bullish Chart Formation Returns
Crypto analyst Dima James Potts recently shared an intriguing observation regarding Dogecoin’s chart patterns on X (formerly Twitter). His analysis delves into the past performances of the meme coin during crypto bull cycles and how its price has evolved leading up to each significant rally.
For instance, Potts highlighted a key formation prior to the 2017 bull market, where an intersection between the Dogecoin bear market bottom and the subsequent bull cycle top occurred. This formation preceded a remarkable 9,000% rally that propelled the price from $0.00009 to $0.014.
Similarly, leading up to the 2021 bull cycle, the Dogecoin price exhibited a comparable pattern, with another intersection between the bear market bottom and the bull market top. This setup marked the onset of another substantial rally, catalyzed by influencers like Elon Musk, which saw the price soar from below $0.015 to $0.7, representing an 18,000% surge.
The recurring pattern has resurfaced once again, signaling another potential rally for Dogecoin. Potts predicts that the DOGE price is primed for significant growth, especially in 2025, following the established trend from previous cycles. This upward trajectory could potentially push the price to $10.
Dogecoin Price Could Touch $10
Building on the trend observed in the last two bull cycles, Potts anticipates a substantial price increase for Dogecoin, potentially reaching $10 in 2025. If this materializes, it would signify a remarkable 10,000% surge from the current price of $0.1. The analyst points to the historical trends, citing a 9,000% increase in the first cycle and an 18,000% rise in the second cycle as indicators of potential future growth.
Featured image created with Dall.E, chart from Tradingview.com
