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Although the demand for meme coins is declining, one cryptocurrency analyst has claimed so the Dogecoin The price could be about to rise parabolically by 5,202%. Recently, The price of Dogecoin has seen a significant declineIt failed to break the key resistance levels. However, with this new prediction by a cryptocurrency analyst, Dogecoin could see a potential increase in its value to new highs.
Dogecoin price will see a huge rise of 5,202%
One cryptocurrency analyst identified as “zero” on X (formerly Twitter) expressed his excitement about Dogecoin incoming price pump. The analyst suggested via his mail The price of Dogecoin appears to be ready for a significant rally, likely due to favorable market conditions and key technical indicators.
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Share a historical chart that explains DOGE Price Actions Since 2014, Zero has pointed out periods when the price of Dogecoin saw massive spikes, specifically during the bull run that followed each Bitcoin halving event.
From 2017 to 2018, the analyst revealed that the price of Dogecoin increased by 9,226.49%. After experimenting with A Bear market With a long period of price fluctuations, the meme currency witnessed another massive boom between 2020 and 2021. At that time, Dogecoin recorded a massive price increase of 30,693.75%, resulting in a current all-time high of $0.74.
Based on these upward trends, Zero expects that… Dogecoin price may see its next rally Between 2024 and 2025. He expected the famous meme currency to witness a huge increase in price by 5,202.19% to reach the $5 mark. This massive rise in value would actually push Dogecoin to its previous all-time high in 2021. Moreso, assuming the cryptocurrency can reach $5, this would represent a 50x increase from its original price. Current price Valued at $0.139.
Going forward, Zero announced that this expected price increase was a long-awaited moment DOGE ownersindicating that there was a build-up of anticipation for Running bull Over the past three years. In addition to the Dogecoin price increase, the analyst also expects Bitcoin (BTC) to rise to new highs.
DOGE ATH may be closer than investors think
It seems that many analysts in the cryptocurrency market are very optimistic about this matter Dogecoin price forecast. Notably, a cryptocurrency analyst on X, known as the “CEO,” did just that He said told his 471,600 followers that the price of Dogecoin could be poised for another all-time high soon.
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The analyst revealed that the meme coin’s price action is repeating the 2020 reversal box pattern, indicating a… Possibility of price penetration. Furthermore, Dogecoin is forming three higher lows and is already breaking resistance, indicating that a major pump may be underway. Sharing a price chart highlighting Dogecoin’s bullish technical indicators, the analyst predicted that the cryptocurrency will see a sustained rally above $0.4 soon.
Featured image created with Dall.E, chart from Tradingview.com