Dogecoin enthusiasts are buzzing with excitement as a significant bull run may be on the horizon. According to a well-regarded crypto expert, Dogecoin (DOGE) is poised for its next rally, which could potentially lead to a new all-time high. This prediction follows a noticeable upswing in DOGE’s value over recent weeks, signaling a possible revival of its bullish momentum.
Dogecoin Poised For Massive Gains In The Upcoming Weeks
Amidst rising optimism surrounding Dogecoin, Trader Tardigrade, a seasoned crypto expert and investor, has announced that the popular meme coin is gearing up for its next major run. Trader Tardigrade shared these insights on the X platform (formerly Twitter), igniting excitement within the Dogecoin community.
Key Indicators Suggest a Bull Run
The market expert highlights that DOGE is positioned for its next bull run after identifying critical price patterns on its chart. Particularly, the Hidden Bullish Divergence formation suggests that the dog-themed meme coin is building strength for a potential breakout. This formation typically occurs during a downtrend, indicating a possible reversal or slowing of the downward momentum.
Trader Tardigrade pointed out this crucial pattern in Dogecoin’s Relative Strength Index (RSI) on the 4-hour time frame. According to the analyst, this indicator provides early signs of a sustained upward trend, allowing the digital asset to reach new heights.
The Two Major Pumps Ahead
As DOGE prepares for its next significant rally, Trader Tardigrade anticipates two major pumps in the short term, showcasing his strong confidence in the asset’s near-term prospects. His forecast is grounded in historical price trends, where DOGE experienced multiple rallies to its market peak in the last two bull cycles.
For the first pump, the expert targets a price level of $2. Meanwhile, the second pump is expected to propel DOGE to the $20 threshold, should historical patterns repeat. Consequently, the analyst believes DOGE’s bull run is just beginning, emphasizing that it’s still early to capitalize on the upswing.
DOGE’s Market Top Sooner Than Expected?
According to crypto analyst Dima James Potts, Dogecoin’s market top might be closer than many anticipate. He made this claim after identifying price trends reminiscent of previous cycle tops.
Historical Comparisons and Predictions
In the first and second cycles, DOGE experienced surges of 21,821% and 54,890%, respectively, from its bear market low to its peaks. While the third cycle has not yet peaked, if past patterns hold, James Potts anticipates DOGE will peak around January 19, 2025, given the meme coin historically reaches its zenith approximately 1,446 days into the cycle.
Although the market top for this cycle might be approaching quickly, the expert is optimistic that this rally could surpass previous occasions. The percentage gains in each cycle have increased, prompting Potts to set a target of $36 for DOGE.
The Broader Cryptocurrency Landscape
With signs of a resurgence across the cryptocurrency landscape, Dogecoin may seize the opportunity presented by renewed momentum to achieve further gains in the coming days.
