Analyst Olivier noted that the price of Dogecoin may only be a few weeks away from a new price All time high (ATH). The analyst also revealed what needs to happen between now and then for the meme coin to surpass its current ATH price of $0.73.
Dogecoin price could reach a new ATH if this happens
In X’s post, Olivier mentioned that the price of Dogecoin will only be a few weeks away from the new ATH once it is released. It breaks above $0.23. The accompanying analyst chart showed that the first meme would rise to an interim ATH of $1.6. Once this is done, the chart indicates that Dogecoin will rise further to $3.7.
However, based on Olivier’s chart, this $3.7 target would not represent a high for the Dogecoin price as the meme coin is still likely to rise to $32. The analyst expects Dogecoin pool This $32 price target will occur sometime in May 2025. Interestingly, this very bullish prediction comes right after cryptocurrency analyst Ali Martinez predicted that the main meme coin could rise to… Up to $23 In this market cycle.
Martinez suggested that the richest man in the world, Elon Muskcould contribute to the rise in Dogecoin prices as it now affects US President-elect Donald Trump. Musk has already proposed creating a Department of Government Efficiency (DOGE) under the Trump administration, which is expected to attract more DOGEs.
In his latest work DOG analysisMartinez also provided an update on Dogecoin price movement. He said that Dogecoin is currently consolidating within a descending triangle on lower time frames. The analyst added that a break above the $0.198 resistance could lead to a 10% rally to $0.220.
The DOGE Bull Rally is on
In X’s latest post, Cryptocurrency Analyst Slow growing trader It once again confirmed that the bullish rise in Dogecoin price has already begun. He explained that in Gaussian channel analysis, DOGE follows this pattern. First, it tries to leave the channel but fails, and returns it back to the channel, supported by the middle range. Dogecoin once again makes another attempt and eventually breaks out of the channel, triggering the start of a bullish rally.
Trader Tardigrade confirmed that the price of Dogecoin has left the channel and gone live Bull rally. The accompanying analyst chart showed that Dogecoin could rise to at least $6 this market cycle. He also recently suggested that the $10 target was possible while revealing that Dogecoin price had repeated Falling wedge pattern From 2021. Cryptocurrency analyst Dima James also predicted that DOGE could reach $10 on this uptrend.
At the time of writing, Dogecoin price is trading at around $0.19, rising over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com