Will Dogecoin see its third major leap? Analysts say after the drop, it should rise
Dogecoin (DOGE) may be preparing for a big move before April 2025, and then it could soar!
A Twitter user named Master Kenobi recently shared some interesting research. He looked at Dogecoin's price trend in 2024, when it soared to $0.23, then went into a slump for several months, not reaching new highs again until 2025, breaking $0.4.
If this trend continues, Dogecoin might need to keep a low profile before April, then pick up steam in the middle of next year.
Can Dogecoin rebound quickly?
This theory is quite interesting. Dogecoin bulls would certainly be happy to hear this; a rise in risk before April wouldn't be a bad thing.
Why do I say this?
Dogecoin's staunch supporter Elon Musk is planning a big move in Washington in January, focusing on government efficiency. The newly elected U.S. President Trump is also working hard to reduce government waste, and this government is the most supportive of cryptocurrencies.
Musk's words in Washington carry weight; he has recently criticized the congressional funding measures, saying he wants to reduce 1500 pages to 100 pages.
If DOGE makes the headlines in 2025, then Dogecoin's position as the meme coin leader will be solidified.
If Trump's initiatives push cryptocurrency prices up in the coming weeks, Dogecoin will surely benefit.
However, looking at the charts now, Dogecoin's price has dipped a bit. After last week's drop, it couldn't hold the 21 and 50 DMA, and now it's hovering around $0.32.
Is Dogecoin's third major leap about to come?
Dogecoin has not yet reached the high of $0.23 at the beginning of 2024, which is an important target in a bear market.
From the charts, it seems Dogecoin might need to dip a bit more, possibly down to the low of $0.2, which could be a good buying opportunity.
Dogecoin is currently a standout in the cryptocurrency world, and it might rise above $1, potentially even fivefold in a bull market!
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