Dogecoin price repeats an upward fractal from 2021, indicating… Possibility of price penetration To new highs. A cryptocurrency analyst shared a price chart comparing this historically recurring fractal to Dogecoin’s current trajectory, Expect a huge boom to all-time highs by January.
The historical fractal sends the price of Dogecoin above $4
In X (formerly Twitter) mail On Wednesday, Trader Tardigrade, a prominent cryptocurrency trader and analyst, predicted that Dogecoin, the number one cryptocurrency, could set a record. Explosive price rise It exceeds $4 by January 2025. The analyst announced that Dogecoin is repeating a crucial fractal observed during the massive price pump in the 2021 uptrend.
He presented two parallel charts comparing Dogecoin’s movements between 2020 and 2021 and 2024. The right side of the chart is shown Dogecoin price movement in 2020, leading to a massive rally in January 2021.
Before this significant price rise, Dogecoin underwent a series of operations Patterns of unification. The blue triangle in the chart indicates a local peak, the green curve highlights a price recovery after a decline, and the orange arc represents a period of gradual consolidation.
These remarkable price movements culminated in a sharp breakout for Dogecoin, allowing it to surge beyond $0.065 in January 2021.
Based on Trader Tardigrade analysis, Dogecoin repeats this bullish setup, with the same consolidation patterns appearing on the price chart. The blue triangle on the left side of the chart shows that Dogecoin has already formed an initial top. In addition, the green curve highlights a price recovery, and the orange arc indicates an approximate coherent pattern.
If this Up fractals Continuing, Dogecoin could reverse the previous price action and see a strong rally similar to Pump 2021. Therefore, the analyst described January as the “big bang month,” emphasizing its importance during this month Bull market. Trader Tardigrade predicts that if Dogecoin repeats the historical fractal, it could trigger a rally strong enough to push the memecoin’s price above $4.
The analyst expects a 570% rise in Dogecoin
Cryptocurrency analyst Javon Marks did too anticipation A huge bull run for Dogecoin, emphasizing the importance of… Historically recurring patterns In determining the future path of the meme currency. The analyst shared a chart showing this Dogecoin price behavior Across three distinct courses – Course 1, Course 2, and Course 3.
Each cycle follows a similar consolidation pattern within a descending triangle, followed by a breakout that leads to a significant price rise. Dogecoin crossed the 1,618 level Fibonacci extension level During each cycle after successfully repeating historical consolidation patterns.
Based on this analysis, Dogecoin’s current price action in the third cycle conforms to the recurring pattern. If this trend continues, Marks expects Dogecoin to see a massive rally of over 570%, potentially reaching $2.28 or higher.
Featured image created with Dall.E, chart from Tradingview.com
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