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Cryptographic analyzer Dima James He once again raised the possibility of Dogecoin price rising above $10 this market cycle. The cryptocurrency analyst pointed to historical data to show how high DOGE has risen in this bull cycle.
How high will the price of Dogecoin go this market cycle?
in Share XDema James shared a chart showing that the price of Dogecoin could reach $80 this market cycle. The analyst also expected that Highest cycle for Dogecoin It could happen sometime between February 11 and May 7, 2025. The analyst pointed to historical data to explain why he is confident Dogecoin can reach this goal.
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Analyzing the daily chart, the cryptocurrency analyst explained that year 4 is usually the last year of each cycle, which is the time when Dogecoin price reaches its peak each time. He highlighted an indicator on the chart that accurately predicted everything Bitcoin Summit. The analyst noted that Dogecoin tends to peak three to four weeks after Bitcoin reaches its peak.
In line with this, the analyst predicts that the peak of the Dogecoin cycle will occur sometime between February 11 and May 7. Meanwhile, when discussing the four-year cycle further, Dima James pointed out that Dogecoin price had a great performance in the third year of this cycle (2024) compared to the third year of the year. Previous courses (2016 and 2020).
He also reiterated his prediction that Dogecoin’s price will end this year at $0.31, marking the meme coin’s best performance for the third year so far. Year 4 has historically been the most important year for Dogecoin, and Dima James expects a similar or even greater result in 2025, with Dogecoin outperforming the previous Year 4 cycle. The analyst believes this will happen due to increased adoption and technological advancement.
DOGE has found a local bottom
Posted by X, Cryptocurrency Analyst Slow growing trader It was stated that the price of Dogecoin may have found a local bottom. The analyst explained that there is a Doji Dragonfly candle reaching the 0.618 Fibonacci level on the daily chart. He further noted that DOGE’s display of price rejection at this level indicates a potential bottom has been found.
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the A crypto analyst recently mentioned That Dogecoin price was stuck in a range. He predicted that a break above this range could send Dogecoin to the psychological level of $1. In another X post, Trader Tardigrade mentioned that Dogecoin entered a Gaussian channel on the daily chart.
The cryptocurrency analyst added that Dogecoin price stopped its downtrend at the middle range of the channel, highlighting the supportive nature of the Gaussian channel. In line with this, trader Tardigrade noted that Dogecoin is ready for a bullish reversal.
At the time of writing, Dogecoin price is trading at around $0.33, up more than 12% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com