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A long-awaited big rally for Dogecoin could be on the horizon, as one cryptocurrency expert has confirmed that DOGE is preparing for its next rally, potentially hitting a new all-time high. This prediction comes after DOGE’s recent rise in the past few weeks, indicating a revival of its upward momentum.
Dogecoin is poised for massive gains in the coming weeks
Amid the growing optimism surrounding Dogecoin, Trader Tardigrade, a seasoned cryptocurrency expert and investor, Announce The meme coin is preparing for its next major trajectory. Trader Tardigrade shared his predictions on the X platform (formerly Twitter), sparking excitement within the Dogecoin community.
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The market expert claims that DOGE is ready for this Next bull round After citing key price patterns on its chart, particularly a hidden bullish divergence formation, showing that the dog meme coin is building strength for a potential breakout. A bullish hidden divergence formation usually occurs within a downtrend, indicating a possible reversal or slowdown of downward momentum.
Trader Tardigrade cited the main pattern in the 4-hour time frame of Dogecoin’s Relative Strength Index (RSI). According to the analyst, this crucial indicator provides early signals of a sustained uptrend DogecoinWhich allows the digital asset to reach higher levels.
As DOGE prepares for its next significant rally, Trader Tardigrade expected Two major pumps are due in the short term, demonstrating his strong confidence in the asset’s near-term prospects. His diagnosis is based on historical price trends, as DOGE has seen multiple rises to the top of the market in the last two bull cycles.
For the first pump, the expert set his next target at the $2 price level. Meanwhile, the second pump is set to trigger the move to $20 threshold History should repeat itself. As a result, the analyst believes that DOGE’s uptrend has only just begun, noting that it is still too early to benefit from the rally.
Will the DOGE market top come sooner than expected?
According to For cryptocurrency analyst Dima James Potts, the top of the Dogecoin market appears to be much closer than widely expected. He made these claims after identifying price trends similar to previous cycle highs.
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In the first and second sessions. Doug It saw a rise of 21,821% and 54,890%, respectively, from its bear market lows to its peak. Although the third cycle has not yet peaked, if past events repeat, James Potts expects DOGE to peak around January 19, 2025, since Same angle It often peaks at around 1446 days.
The DOGE market top of this cycle may be approaching quickly, but the expert is confident that the rise of this cycle may be greater than on past occasions as the percentage gains have risen in each previous cycle, putting his target at $36.
With signs of a resurgence in the cryptocurrency landscape, Dogecoin may benefit from renewed momentum and see further increases in the coming days.
Featured image from Unsplash, chart from Tradingview.com