Dogecoin (DOGE) is likely to experience volatility in the range before a big move in April 2025. In a recent post on X, analyst Master Kenobi indicated that this cryptocurrency is likely to repeat a trend similar to that of 2024.
Kenobi also focuses on Dogecoin's price in 2024, when the coin reaches $0.23 and then experiences a prolonged period of stagnation. It then emerges and trades above $0.40 by the end of the year, reaching new highs in the following year. If this trend is observed, DOGE may continue to underperform until mid-April and then surge.
Dogecoin market sentiment
The timelines of Kenobi align with economic trends, but other analysts are skeptical about the validity of the proposed timelines. However, since the model suggests a slow recovery, others believe there may be other factors that could trigger a DOGE bull run sooner. Other factors that could lead to this timeline being shortened include changes in politics and investor sentiment.
The launch of the Government Efficiency Bureau (DOGE) expected in January is likely to be the main driver of Dogecoin's price action in the short term. Elon Musk has spearheaded this project to address issues of government waste and has garnered significant attention. The fact that Elon Musk has supported DOGE for quite some time also benefits DOGE in this case.
Hope for Dogecoin has been boosted by the upcoming inauguration of U.S. President Donald Trump. His administration, expected to embrace cryptocurrency, will indirectly contribute to Dogecoin, although it may not be his top priority. Those interested in cryptocurrency are closely monitoring these developments as they believe DOGE could gain more recognition and acceptance in the future.
Musk's influence on Dogecoin
This is evidence that Musk's influence in Washington has begun to be felt. He criticized a major spending bill in Congress and could significantly cut it down, proving that he can get things done. Recognition and image related to DOGE. It will also help keep Dogecoin on theme and popular among people, as well as in meme and cryptocurrency worship.
While Dogecoin is considered to have great potential in the future, its short-term outlook is less promising. After a price drop, DOGE is trading below the 21-day and 50-day moving averages, indicating bearish pressure. Currently, it is trading at $0.32, and it will be very difficult for this coin to recover after the losses it suffered last week.
The chart shows that Dogecoin may soon retest the low of $0.20. This would be a good way to test market sentiment but could also be an excellent opportunity for anyone interested in long-term holding to buy. The drop to these levels may attract buyers waiting for DOGE's recovery.
Dogecoin, in particular, has shown reluctance to drop and has a unique position in the market that makes it a good bet for superior performance in the next bull run. According to analysts, it could even rise above $1.00 and yield returns fivefold or more. Its history of rapid and fierce growth and the presence of a strong community make it even more attractive to investors.
The overall performance of the broader cryptocurrency market will also be important for Dogecoin's future. The return of "Trump trading" and a bull market could help DOGE achieve new growth. This anticipated shift towards supporting cryptocurrency could boost the entire market, and here, Dogecoin could be the star of the show.
Master Kenobi's analysis seems to provide a clear roadmap for how DOGE could break out. Since the predicted stagnation phase from now until April 2025 could be quite challenging for investors, knowing when to enter the market is equally important. Those who are patient will reap the benefits.
Conclusion
Dogecoin has repeatedly confused its critics and emerged as a meme on the internet and a real cryptocurrency. Although the situation can be quite unpredictable in the coming months, its long-term outlook remains bright. Regardless of when the bull run begins in April 2025, Dogecoin remains an attractive cryptocurrency for investors and the public.
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