Positive sentiment around Dogecoin, the largest meme coin, has seen significant growth, with a wave of bullish expectations from many cryptocurrency experts about its ability to undergo a significant price movement to the upside, possibly to… New all-time highs.
The impending big rally is set to take Dogecoin to all-time highs
Amid the recent market recovery, a cryptocurrency expert and trader with the username Javon Marks on X (formerly Twitter) expected Dogecoin may be about to experience another historic price breakout, which could reach all-time highs. The experts’ bold prediction is based on past bullish performance, where the dog meme coin saw massive price moves to an all-time high.
Looking at these past big rallies and the similarities between them and previous ones, Javon Marks thinks so Dogecoin It may be preparing for another massive rally that could push it to a new and higher price peak.
It is worth noting that the expert’s forecast indicates an upside of more than 5 times from the current price of DOGE, given that the current all-time high is about 555% away at the $0.73905 mark.
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Given the past bullish performance of DOGE (Dogecoin), its prices, while similar to previous highs, could be poised for another massive uptrend to new all-time highs, and beyond. Its current all-time highs are approximately +555% at $0.73905.
This prediction highlights the strong optimism around Dogecoin, as the meme coin shows signs of strength after a period of price consolidation. Another analyst and cryptocurrency enthusiast, Ali Martinez, has too In the photo Positive outlook for DOGE in the coming months.
After investigating previous trends and breakouts of the descending triangle pattern for several years, the expert believes that… Same angle He could be on the verge of the next big rally. “History often repeats itself, and Dogecoin may be doing just that,” he said.
Historically, a breakout from a multi-year descending triangle formation is followed by a 200% rally, then a 60% retracement before an uptrend. Given that the selected pattern is currently detected on the chart and Doug After falling nearly 65%, Martinez expects a massive short-term rally similar to previous market cycles, which could lead to a new all-time high.
Large DOGE transactions are on the rise
This bullish forecast for Dogecoin comes amid significant growth in network activity due to a sharp rise in the number of large DOGE transactions. quote By Ali Martinez. The data shared by Martinez shows that this Transactions It has been constantly growing, indicating the growing interest among whales and institutional investors.
According to the expert, the continued increase in huge transactions indicates that institutional investors and Doge whales Possibly preparing for a potential rebound, the meme coin is displaying optimistic price trends.
Featured image from Unsplash, chart from Tradingview.com
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