When will Dogecoin explode past $3.5? — Cryptocurrency Analyst Predictions
Dogecoin has been in the spotlight recently due to a significant increase in network activity over the past month. However, this recognition has not led to significant growth in the asset’s price, fueling speculation of a delayed breakout for the meme currency.
According to the researchers, such a breakout first occurred between 2017 and 2018, when a significant increase occurred after 97 bars and 679 days. By the end of this period, the price of Dogecoin will have increased by more than 8,000%.
Between 2020 and 2021 will be the next time this type of rally occurs. Continuing with this line of thinking, 97 bars and 679 days passed between the previous rally and the subsequent one. Next time, Dogecoin will go on an even more significant rally, growing by more than 23,000% to reach its current all-time high price of $0.7.
Currently, experts note that Dogecoin is very close to reaching the iconic 97 bars and 679 days again, which could lead to a significant increase. If this holds, Dogecoin’s price could break out in April, which is the month this pattern completes. Therefore, the price of Dogecoin may break above $3.5.
Maybe the price of Dogecoin may rise to $10.
This isn’t the first time the cryptocurrency expert has raised the possibility that Dogecoin could explode; in fact, it’s not even the first time. The analyst said in an analysis published last week that the price of Dogecoin showed a similar pattern to 2020, which was followed by its famous rally.
He pointed to a descending triangle that formed and reappeared over a two-year period. This same descending triangle also appeared during the short period when Dogecoin’s price grew from less than $0.003 to over $0.7.
According to this estimate, if Dogecoin has a Bitcoin-like rally, the meme currency’s price could grow to ten dollars. The cryptocurrency expert said the market is now in a period of consolidation, which could pave the way for another major bull run. "Breaked out of the descending triangle and are now in the consolidation phase,"
It could pave the way for another big bull market."
