A new Dogecoin price prediction has put the coin on another upward trajectory, and this time, the meme is expected to reach all-time highs. In particular, cryptocurrency analyst @Kev_Capital_TA on This is entirely based on the past Dogecoin price performancetaking into account the average number of days it takes for each parabolic wave to occur.
DOGE is due to increase
The cryptocurrency analyst explained that so far, Dogecoin price has maintained an average of 1,095 days per cycle before a parabolic rise. Naturally, with this trend continuing so far, this year is expected to be no different and the Dogecoin price is expected to follow suit.
However, at the moment, the price of Dogecoin has exceeded the average number of days and Equivalent mutation It hasn’t happened yet. This indicates a delay, but it does not necessarily mean that the troop increase will not happen soon. This could even mean that the price of Dogecoin is about to rise.
DOGE now has 1,246 days since the last parabolic rally with no upward momentum in sight. This puts the increase more than 150 days behind schedule. On the downside, this delay could mean that Dogecoin price has finally broken away from the trend.
The cryptocurrency analyst points to the fact that DOGE is behind schedule and still trending lower as a reason this might be the case. “Yes #DOGE is 151 days behind schedule. The 4 year cycle shows clear evidence that it is potentially broken. Don’t attack the messenger just be grateful to hear from you providing such information.”
However, the cryptocurrency analyst’s chart shows what could happen if Dogecoin price completes the parabolic rally this time. From the current low price of around $0.1, DOGE could rise to $2.2, which would represent an increase of over 2,100% from here.
The average number of days each took #Dogecoin The four-year cycle is 1,095 days before an equivalent rise in price occurs. We are currently sitting at 1,246 days and the price is still trending lower without any equivalent rise. Yes #DOGE 151 days behind schedule. The four… pic.twitter.com/HPOE4IruLr
– Kevin (@Kev_Capital_TA) October 5, 2024
Whales could push the price of Dogecoin higher
Although Dogecoin price has not followed the parabolic trend for four years, it has not eroded bullish sentiment, especially among whales. Another cryptographer, Ali Martinez, male The DOGE whales were positioning themselves for an upward move.
This means that DOGE whales are still anticipating a rise Regarding the price of Dogecoin. This is reinforced by the fact that the fourth quarter of 2024 is expected to be bullish for the cryptocurrency market. If the price of Bitcoin continues to rise, the price of Dogecoin will also rise.
Featured image created with Dall.E, chart from Tradingview.com