Speculation about Dogecoin’s anticipated rally to reclaim its current all-time high has increased throughout the community as other leading crypto assets like Bitcoin, XRP, and Solana form a latest peak. Regardless that DOGE is about halfway from revisiting its peak, crypto analysts remain confident in its future price performance.
A Remarkable Bull Run Ahead For Dogecoin
Dogecoin’s bull run appears to be removed from over as market expert and investor Dima James Potts predicts a remarkable cycle for the dog-themed meme coin. The analyst believes that Dogecoin’s current bull cycle is exhibiting strength that will outperform its previous market performances.
This prediction relies on historical data and emerging market trends that indicate that DOGE could record unprecedented gains in the continuing cycle. Specifically, past data shows that every cycle for Dogecoin has performed higher than the last, igniting the expert’s robust confidence on this cycle.
Moreover, Dima James Potts’ forecast hinges on DOGE’s remarkable growth after the past inauguration date, suggesting an analogous influence as Donald Trump prepares to assume the US Presidential seat. These events have historically served as a catalyst for Dogecoin, triggering optimism throughout the community.
In the course of the 2017 bull cycle, the expert claims that DOGE’s value soared by 30X following the inauguration date, reflecting its stark impact on the meme coin. Also, within the second bull cycle in 2021, the asset saw a whopping 80X increase over the subsequent few weeks after the inauguration date.
It is crucial to notice that Donald Trump’s inauguration because the US President is scheduled to happen today. Should Dogecoin follow just the typical of the last two cycles, James Potts anticipates an over 55X growth from its current price of $0.38. This may ultimately bring DOGE’s value to the $20 milestone within the upcoming weeks.
James Potts has underscored his confidence within the meme coin surpassing the past two bull cycles attributable to recent technical advancements and heightened global institutional adoption.
Given the rising investor confidence, expanding usage, and favorable macroeconomic conditions, Dogecoin’s price trajectory seems ready for its next big breakthrough. Several crypto enthusiasts foresee a path to a latest all-time high, with the $1 mark considered the subsequent price goal.
DOGE Making A Bullish Retest
As DOGE falters, Ali Martinez, a technical analyst and trader,x considers the trend a vital move for its upward trajectory. In keeping with Martinez, Dogecoin is retesting the breakout zone of an enormous triangle pattern in a bullish manner, signaling the potential for an additional upside move.
Should the meme coin rebound from the zone, Martinez highlights a rally to the $0.54 level, representing an almost 46% increase. The event comes amid bullish market sentiment, paving the best way for further price advances.
Featured image from Unsplash, chart from Tradingview.com