As Bitcoin's price surges, the market also shifts to a bullish trend. Most cryptocurrencies have started to recover strongly after the latest pullback, which has sustained the upward momentum of most altcoins. While some altcoins have experienced a significant bull run, Dogecoin has gone through a small price increase, but before entering the bullish zone, it faced a considerable bearish action. Despite the bearish intervention, the DOGE price is still poised for a major bullish run as a new ATH at $5 has been pre-programmed.
Dogecoin gained public attention during the 2021 bull run. Furthermore, the bull run began with a DOGE price surge from a consolidation around $0.0045 to a peak of $0.7376. A similar rally has been recorded since the beginning of the last quarter of this year, expected to trigger a bullish trend similar to 2021. This is the reason.
The DOGE price has recently shifted from a long consolidation phase to an accumulation phase lasting from early November to mid-December, followed by a manipulation phase. Historically, a strong distribution is expected, which is anticipated to push the DOGE price to a new ATH.
A well-known analyst, Trader Tardigrade, has found similarities between the 2021 bull run and the current price movement. This analyst emphasizes that the cryptocurrency is repeating the same consolidation phase it went through in 2021. The DOGE price surged in January 2021, followed by a small consolidation leading to a major breakout to ATH. Currently, the price is witnessing the same consolidation pattern, suggesting that the next price movement in January could be a Big Bang month.
Many analysts and veterans anticipate a strong bull run in 2025, which could potentially trigger an alt season. If the Dogecoin (DOGE) bull run repeats the previous pattern, market participants can expect a new ATH significantly higher than the $1 mark, somewhere around $4.5 to $5. Once these levels are achieved, it will be very difficult for the bears to pull the levels below $1 even during strong bear market periods.
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