After the recent rise in the general market. Dogecoin It began to show upward momentum towards higher price levels, reviving optimism about its ability to surpass its previous all-time high and set a new peak in the ongoing market cycle.
Leap towards a new all-time high for Dogecoin
In diving into Dogecoin’s current price action, market expert and seasoned investor Master Kenobi does just that He confirmed DOGE’s path to a new all-time high while providing a possible timeframe for this milestone. While the cryptocurrency community waits for this historic moment, a market expert claims that DOGE reaching a new peak is much closer than widely expected.
Master Kenobi’s diagnosis is based on an alignment of events approximately two months ago between this current cycle and the previous cycle. He added: “Then it started on November 3, 2020, but this time it started on September 2, 2024.”
Considering that Master Kenobi’s long-term predictions for Dogecoin over the past year and a half have come true, he is confident that what comes next will likely match the rest of his predictions. As a result, the analyst claims that the subject is a dog Same angle It is at most two weeks away from hitting a new all-time high, especially between December 2nd and 9th, considering the DOGE weekly chart.
While many community members may express disbelief at this prediction, Kenobi has drawn attention to the last two market cycles where Dogecoin saw a breakout to previous highs, suggesting that history may repeat itself and DOGE may see a massive breakout from the green trendline to the Orange as shown in his chart.
Since the expert is confident that Dogecoin will reach a new all-time high in the following weeks, he expressed his great satisfaction with Historical price trends Because they are the only trustworthy resource to get a glimpse into the future of DOGE.
Meanwhile, after rising, Kenobi anticipates the next target halfway down the orange line positioned at $2.90 Level or double the previous all-time high price, which would put the meme coin between $1.40 and $1.45 in the coming weeks.
As optimism grows and DOGE gains momentum across various sectors, traders and investors are closely monitoring more signs of a sustained uptrend in anticipation of Big march to new highs similar to previous trends.
DOGE in consolidation phase?
In the past few days, Doug It fluctuated between the $0.36 and $0.42 levels, sparking speculation of a possible consolidation phase. Given the renewed strength in the market, DOGE’s trend within the range may be short-lived, as the current momentum could reinforce the memecoin’s upside.
Dogecoin is showing upside potential, rising 1% in the past day despite a decline in its daily trading volume. Meanwhile, in the larger view, such as the weekly and monthly time frame, the meme coin increased by more than 4% and 141% respectively.
Featured image from Unsplash, chart from Tradingview.com
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