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Dogecoin price expectations remain high One crypto analyst has also predicted an all-time high for the meme coin. Not only are the analysts predicting a final break above the coveted USD level, they are pushing even further, predicting that Dogecoin will post a parabolic rally that could shock the crypto market. This could push Dogecoin even higher, delivering a performance that could be reminiscent of its 2021 price rally.
Dogecoin Completes Accumulation Phase
In an analysis published on TradingView, anonymous crypto analyst TradingShot gave a bullish outlook. climate forecast As for the price of Dogecoin. First, the analyst refers to a previous analysis that was first published about a year ago. This analysis had predicted that the price of DOGE would enter an accumulation phase before rising.
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Fast forward to the present, and the crypto analyst explains that Dogecoin has already entered this accumulation phase and completed it as he predicted. This leads the crypto analyst to the next phase of his predictions, which is a price rally from here.
As TradingShot points out, this accumulation phase was present in the previous bullish cycle, making it an important element here. Furthermore, the bullish crossover at the 50 and 00 1-week moving averages, as well as the 100 1-week moving average that remained flat after reaching a bearish channel/bullish flag, Leads her to the Parabolic Rally stage.This is where the fun begins.
DOGE Parabolic Rally Price Targets
With Dogecoin price now entering a parabolic bull run, cryptocurrency analyst Possible DOGE Price Levels Bitcoin could hit $2. For the more conservative, one crypto analyst predicts a rally to $2 is possible. TradingShot points to this 1,760% rise from the current level as a “good target” for this cycle.
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However, as with any parabolic rise, there is a possibility that The price will continue to rise. Even after reaching his realistic goal. In what the analyst calls an “overextension situation,” they explain that the price could rise 5,500% to $6. But some new developments need to happen, such as “some news/fundamentals that introduce new uses/adoptions for DOGE, and the market reacts with very aggressive capital flows.”
As for the timeline for when these predictions will come true, it doesn’t seem too far off, with the analyst saying it’s sometime in 2025. Using previous cycle peaks of Dogecoin’s Huge RiseTradingShot predicts that the price of Pico will reach its highest level around August 4, 2025. This means that there are only 11 months left for this prediction to be fully realized.
Featured image created using Dall.E, chart from Tradingview.com