Cryptocurrency analyst Trader Tardigrade predicts that if Dogecoin can reproduce the historical trends of the 2017 bull market, the price could potentially rise to double digits. He previously mentioned that based on the 2017 bull market cycle, Dogecoin is expected to rise to $8.7.
According to these historical patterns, Dogecoin's price may truly reach double digits.
In a post on X, Tardigrade analyzed that Dogecoin may have experienced two sub-cycles within one cycle. If this is the case, 2025 will welcome a bull market similar to that of 2017, and there may even be a second surge, with prices expected to soar to $30, similar to the 2017 trend.
In 2017, Dogecoin experienced two bull markets. In the first cycle, it once rose to $0.00850 and then began to pull back. After a consolidation period, Dogecoin welcomed a second parabolic rise, with the price skyrocketing to $0.01. As analyst Tardigrade pointed out, a similar situation might happen again.
Dogecoin's price experienced a massive bull market between October and November this year, with an increase of over 200%. However, as the most important meme coin, its momentum subsequently cooled down, with the current price consolidating around $0.4. If Dogecoin can replicate the two sub-cycles of the 2017 surge, a more parabolic rebound is likely to occur in the future.
As predicted by cryptocurrency analysts, Dogecoin may experience a parabolic rebound in 2025, potentially pushing its price up to $30. Trader Tardigrade is clearly optimistic about Dogecoin's performance in the current market cycle, believing it can reach double digits. Prior to this, he also reminded market participants that when Dogecoin's price is between $10 and $30, they should consider taking profits during this bull market.
Moreover, it seems that Dogecoin is on the verge of setting a new all-time high (ATH).
Analyst Justin Bennett also predicts that Dogecoin is very likely to break its existing price record. In a post on X, he mentioned that it's just a matter of time before Dogecoin's price hits a new high, especially with its strong and favorable performance on the daily chart.
The analyst shared the daily and weekly chart analysis of Dogecoin, predicting that Dogecoin could rebound to $0.76 in the next round of increases. The weekly chart shows that Dogecoin could even break through this resistance level and further rise to $1.6. On the daily chart, if Dogecoin breaks through the resistance level of $0.76, the price may continue to rise to $0.85.
It is worth noting that since Elon Musk posted meme promotions for Dogecoin on his X platform, Dogecoin's price has once again shown bullish momentum.
According to CoinMarketCap data, at the time of writing, Dogecoin's price is approximately $0.44, having risen over 3% in the past 24 hours.
