Can Dogecoin Price Hit $20? Here's What Will Occur If DOGE Repeats Previous Cycles

Crypto analyst Trader Tardigrade has raised the potential of the Dogecoin price rallying to as high as $20 on this bull run. The $20 price prediction got here into the image because the crypto analyst revealed what would occur if DOGE repeated previous cycles.

Dogecoin To Rally To $20 If This Happens

In an X post, Trader Tardigrade predicted that the Dogecoin price could rise to as high as $20 if it replicates its historical performance. He noted that Dogecoin experienced bull rallies after surpassing the previous candle body high in 20217 and 2021, with gains of three,000% and eight,000%, respectively.

In keeping with this, he predicted that the Dogeocoin price could rally to as high as $20.68 if DOGE follows an analogous pattern. Interestingly, Trader Tardigrade previously predicted that DOGE could rally to as high as $8 if it mirrors the 2017 bull run and rally to as high as $30 if it mirrors the 2021 bull run.

Aligning price trend points to $20 for DOGE | Source: Trader Tardigrade on X

Meanwhile, the crypto analyst also suggested that the foremost meme coin could soon begin the subsequent leg of its bull run. In one other X post, he stated that the Dogecoin price has broken out a converging triangle and the moving average convergence divergence (MACD) shows a bullish crossover. He added that DOGE may start a bull rally from here.

Crypto analyst Ali Martinez also hinted a bullish reversal for the Dogecoin price. In an X post, he stated that the TD Sequential has presented a buy signal on DOGE’s hourly chart. This means that the foremost meme coin may very well be well primed to record one other move to the upside.

DOGE’s Outlook Is Far From Bearish

In an X post, crypto analyst Kevin Capital made a case for why the Dogecoin price is removed from being bearish. He stated that DOGE continues to be seeing fast expansion on the 50 and 200 moving averages after its weekly golden cross occurred. He added that the meme coin is above the macro golden pocket at $0.26 and is battling the macro .786.

In keeping with this, he suggested that there was no reason for market participants to be bearish on the Dogecoin price. Nonetheless, within the meantime, he mentioned that he wasn’t focus very much on DOGE or other altcoins since the Bitcoin price will determine the subsequent move available in the market. The crypto analyst reassured that nothing has modified regarding DOGE’s bull run, stating that cycle tops don’t occur when everyone seems to be bearish.

Crypto analyst Javon Marks also recently made a bullish case for the Dogecoin price, predicting that it could witness no less than a 5x increase from its current level.

On the time of writing, the Dogecoin price is trading at around $0.35, down over 3% within the last 24 hours, in response to data from CoinMarketCap.