Dogecoin Rally Just Beginning, Say Analysts
Analysts predict Dogecoin’s rally is just starting, pointing to bullish patterns and historical trends suggesting significant growth ahead.
Dogecoin’s recent price surge has caught the attention of crypto analysts, with many suggesting the rally is only in its early stages. Despite gaining over 300% this year, experts believe the meme coin has significant room for further growth. Analysts point to historical trends and technical patterns to predict a potentially parabolic breakout.
Crypto analyst Philip noted that Dogecoin is still near the bottom of its current market cycle, with upward momentum likely to continue. Using Dogecoin’s monthly chart, he highlighted a recurring triangle pattern in which the coin consolidates before experiencing significant price surges. According to Philip, the ongoing rally mirrors past cycles, where Dogecoin reached new all-time highs after similar patterns.
Philip also referenced past bull runs to estimate potential future gains. In previous cycles, Dogecoin saw massive increases, with one rally delivering a 9,000% gain and another soaring by 50,000%. Based on these trends, he expects Dogecoin could replicate at least a portion of these gains in the current market cycle. This would mean significant price growth ahead, with the next milestone being to surpass its previous all-time high.
Other analysts echo this optimism. Alan Santana emphasized that Dogecoin’s current growth signals the start of a bullish phase. Meanwhile, crypto analyst Trader Tardigrade suggested that the coin could double its value from recent local tops, following its historical tendency to surge significantly after such levels.
In addition, Kevin Capital pointed out a hidden bullish divergence on Dogecoin’s 4-hour chart, suggesting further upward momentum. This divergence indicates strong support for the rally and hints at sustained buying pressure.
While the focus remains on Dogecoin breaking its previous all-time high, the coin’s strong year-to-date performance and growing investor confidence underscore its resilience. Analysts agree that Dogecoin’s rally is far from over, with the potential for substantial gains as the market cycle progresses.
