Crypto analyst Trader Tardigrade has drawn the crypto group’s consideration to a bullish sample from 2021, which the Dogecoin worth is replicating. This has raised the potential for the foremost meme coin rallying to $16 on this market cycle.
Dogecoin Price Replicates 2021 Bullish Pattern
In an X post, Trader Tardigrade revealed that the Dogecoin worth has repeated the same sample from the 2021 bull run. His accompanying chart confirmed that the sample led to an enormous god candle for Dogecoin within the earlier cycle. In line with this, the crypto analyst raised the potential for DOGE witnessing one other god candle that may ship its worth to $16.
Trader Tardigrade remarked that DOGE could be huge, suggesting that the Dogecoin worth might attain this worth degree. On a number of events, the crypto analyst has predicted that Dogecoin might attain this worth goal in this bull run. Recently, he acknowledged that between $10 and $30 could be the highest for the foremost meme coin on this market cycle.
Meanwhile, he additionally acknowledged that the Dogecoin worth could reach $30 by March 2025 if it mirrors the 2021 bull run. Meanwhile, Dogecoin appears to share similarities to the 2021 bull run in comparison with some other cycle, which means that it might replicate the parabolic rally recorded throughout that interval.
Even earlier than the DOGE bull run started, Trader Tardigrade revealed that the Dogecoin worth was flashing the identical sample that led to the 28,000% surge in 2021. This projected rally to $16 on this market cycle stays doable. Besides Trader Tardigrade, crypto analysts like Ali Martinez have additionally indicated that Dogecoin can attain this $16 goal.
Martinez acknowledged that the Dogecoin worth might rise as excessive as $23 on this market cycle. He defined that this might occur if the foremost meme coin reached the two.272 Fibonacci degree.
DOGE To $1 Is Imminent
In the meantime, a psychological brief to mid-term goal for the Dogecoin worth stays at $1, and crypto analyst Master Kenobi has predicted that DOGE will quickly attain this goal with Bitcoin above $100,000. Based on his current evaluation, Dogecoin’s subsequent leg to the upside might start anytime now, because it has recorded a consolidation much like the earlier cycle.
Crypto analyst Kevin Capital additionally alluded to this consolidation interval within the earlier cycle whereas suggesting that the subsequent leg up is loading. He famous that within the final cycle when the Dogecoin worth had its first main leg up, it consolidated for twenty-four days after that transfer earlier than recording one other leg as much as the macro golden pocket.
If Dogecoin had been to observe the same path, he predicts that the subsequent leg will begin by the tip of this week, and the meme coin will start its rally to the macro golden pocket which is at $3.80 to $4.
At the time of writing, the Dogecoin worth is buying and selling at round $0.43, up over 4% within the final 24 hours, in line with data from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
