16 July 2024
Crypto analyst Trader Tardigrade has highlighted a historical pattern that led to the Dogecoin price surge in 2021. Based on his analysis, the foremost meme coin is ready for a similar price rally, which could happen soon enough.
Dogecoin Repeating Chart 2021 Pattern
Trader Tardigrade mentioned in an X (formerly Twitter) post that Dogecoin is repeating the same chart pattern from 2021. He noted that the meme coin was “ready to go” and suggested that Dogecoin’s price rally would begin once the bull run returns into full gear. Dogecoin made an incredible run of over 28,000% in 2021, meaning that such an impressive price rally might be on the horizon again for the foremost meme coin.
Crypto analyst Javon Marks had previously predicted that Dogecoin would make a better run than it did in the 2021 bull run. He made this prediction because the meme coin has always surpassed its previous run in every subsequent bull run. Based on this, Marks predicted that Dogecoin could rise to as high as $17 in this market cycle.
Crypto analyst Ali Martinez also once predicted that Dogecoin could rise to double digits in this market cycle. He made this prediction while noting that the meme coin looked to be mirroring its 2021 pattern. He added that this could be a “massive parabolic bull run” for Dogecoin if that were the case.
These crypto analysts form a long list of persons who have made bullish predictions for Dogecoin. Although not as bullish as Marks and Matinez, someone like crypto analyst Kevin (formerly OG Yomi) has predicted that Dogecoin could rise to as high as $3 in this bull run. Crypto analyst Altcoin Sherpa also predicted that Dogecoin will eventually rise to $1in this market cycle.
Meanwhile, crypto analyst Andrew Kang made a bullish case for Dogecoin heading into the latter parts of the bull run. He stated that meme coins account for most of the altcoins that will make new highs by year-end or the beginning of 2025.
DOGE Ready For A Huge Reboud
Trader Tardigrade recently predicted that Dogecoin could rise to as high as $0.14 when it makes this “huge rebound.” He made this prediction while stating that the meme coin has been “playing Wyckoff Accumulation,” meaning that Dogecoin whales have been adding their positions. The crypto added that “spring is here right now,” alluding to the massive bounce that Dogoicoin could make from its current price level.
Dogecoin was one of the most affected coins following the recent market downtrend. This was mainly due to the meme coin’s strong price correlation with Bitcoin. However, with the flagship crypto back above $60,000, Dogecoin also looks primed for a massive rally, which could send its price to new highs.
At the time of writing, Dogecoin is trading at around $0.11, up over 3% in the last 24 hours, according to data from CoinMarketCap.