Dogecoin Price Flashes Signal From 2021: Will 15,000% History Repeat?
The recent Dogecoin price action is flashing a familiar signal from 2021, sparking speculation about whether history is poised to repeat itself.
Back then, DOGE price experienced a meteoric 15,000% rise, captivating the crypto space. As a similar pattern has emerged, could it herald another substantial surge, driving DOGE to new heights again?
DOGE price has decreased 7.4% in the last 24 hours following the stock market crash, which wiped out over $900 billion.
The ripple effect reached the crypto markets, which have dropped by 5.2% and now have a $2.433 trillion market cap. The price of Dogecoin is $0.1596.
Despite the fall, the Dogecoin price remains bullish. As traders prepare to ride the next wave higher, an analyst has predicted that a similar pattern observed in 2021 could result in a massive DOGE price explosion in this bull run.
Dogecoin Price Repeats 2021 Signal, Will 15,000% Rally Follow?
Head of Research at NewsBTC Tony Severino shared his observation on the Dogecoin chart, noting that the two-month Logarithmic Moving Average Convergence Divergence (LMACD) had crossed bullish for the first time since 2021.
Moreover, Trader Alan observed a golden cross on the weekly chart. He noted that the last golden cross in 2023 pumped Dogecoin from $0.069 to $0.23, a 233% increase. If DOGE repeats the same scenario, it will reach $0.47.
From Severino’s observation, a quick mean calculation of the two previous price surges gives a potential increase of 8,628% if history repeats. This puts Dogecoin price around $10, with a potential market cap of $1.466 trillion.
Additionally, the average of the two periods it took to surge 4,300% and 12,000% comes down to 213 days. This means that from the time the breakout candle began forming, the 8,600% DOGE rally is likely to take 213 days, ending April 2025.
#Doge #Dogecoin #Memecoins #CryptoAMA #NovCryptoOutlook $DOGE $BTC $SOL
