A recent technical analysis of the monthly Dogecoin price chart suggests that the meme coin could be preparing for another parabolic rally. Based on this outlook, a crypto analyst predicts that DOGE could hit a price target of $10 or more before the end of 2025.
Dogecoin Price Chart Shows Path To $10
According to X (formerly Twitter) crypto analyst Dima Potts, Dogecoin is apparently following patterns seen in previous 4-year cycles, where major price explosions occurred during the fourth year. Using this historical data, the analyst forecasts that the meme coin could hit a new price target above $10.
Sharing a monthly DOGE price chart using Heikin Ashi candlesticks, Potts highlights interesting patterns in Dogecoin’s past movements in 2017 and 2021. During these bull market periods, Dogecoin experienced parabolic rallies that saw its price surge as high as 37x from cycle lows.
Potts highlights an intriguing pattern in which DOGE spends years in accumulation before breaking out into a parabolic trend. The chart uses curved green and red lines to outline these accumulation and breakout phases.
The vertical green lines mark the points where this explosive move began, aligning closely with Bitcoin’s post-halving price rallies. Additionally, the purple boxes mark previous bull rallies, with each breakout signaling a clear move past the accumulation zone.
The white arrow and vertical green line in Potts’ chart analysis show that Dogecoin is nearing the end of its current cycle, suggesting that another parabolic breakout could occur soon. If history were to repeat itself, the analyst predicts that Dogecoin could experience its next major breakout move in April 2025, continuing this explosive growth throughout the rest of the year.
If the meme coin follows its past 37x growth pattern, its price could close the daily candle on December 31, 2025, to reach an all-time high of $11.71. Potts also highlights that $11.71 may not be the price peak of this market cycle, as each fourth year, Dogecoin has progressively delivered stronger price rallies.
The analyst also notes that bullish factors like heightened institutional interest, increasing global adoption, and technological progress will be major contributors to Dogecoin’s bullish performance this cycle.
Analyst Sees Demand Driving DOGE’s Next Rally
In other news, Ali Martinez, a prominent crypto analyst on X, predicts that Dogecoin could be on the verge of a strong price rally if demand increases. Based on the chart, the DOGE price has been moving within an Ascending Channel since 2015.
While the lower boundary of this Ascending Channel acts as a strong support, the mid-line represents a key resistance zone, and the upper boundary marks the potential peak of Dogecoin’s price movements.
Currently, DOGE has been respecting these key support and resistance levels by bouncing off the 0.618 Fibonacci level. However, the chart suggests that a breakout above 0.786 Fib could trigger a rally toward 1.0 Fib or higher. This level aligns with a price range of $0.4 – $7.
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Credit: Source link