Recently, the cryptocurrency market has faced significant pressure, and Dogecoin has also been affected, with prices dropping to a low of $0.327 on Wednesday. Despite the substantial decline, Dogecoin still has strong potential for significant increases within this cycle, as past trends indicate that the bull market may continue.
Has the final wave of the Dogecoin bull market arrived?
The recent price decline of Dogecoin may have caused some investors to feel panic and uncertainty, but as the market gradually warms up, this Dogecoin-themed meme coin still has significant opportunities in both the short and long term.
According to investor and market analyst Tardigrade's research, he noted while analyzing Dogecoin's price trends that the bull market phase for Dogecoin may still continue. He predicts that the last wave of the Dogecoin bull market may be imminent.
This prediction has garnered attention from the community, as it resembles the trends of previous cycles, suggesting that Dogecoin may be on the verge of its final rebound. Historical data shows that in previous cycles, Dogecoin experienced similar strong rebounds, which has left many investors anticipating a price recovery.
From a historical perspective, before the last major surge of Dogecoin in 2017, it consolidated for several months while nearing its historical peak. Now, Dogecoin is showing a similar trend in this cycle, with charts from the past month indicating that DOGE is currently consolidating near a key price range.
If DOGE replicates its past trends, trader Tardigrade believes the current consolidation could last for several months until the final wave of the bull market arrives. Experts predict that this rebound could push the price close to $6, or even set a new historical high, reaching the market peak for DOGE.
As market confidence strengthens and activity increases, the rise of meme coins has caught the attention of more and more cryptocurrency enthusiasts. Especially as DOGE approaches important resistance levels, everyone is closely watching its price movements.
Considering the sustained positive upward trend in prices, Tardigrade advises investors to remain patient, indicating that now is not the time to sell or short DOGE. Currently, Dogecoin is retesting the vertex of an ascending triangle, suggesting a very optimistic outlook for this meme coin.
An ascending triangle typically indicates that the market has upward momentum. If the price continues to hold above this range in the coming days, DOGE is likely to break through the upward pressure line and enter a bullish phase.
The next major rebound for DOGE may occur in 2025.
Although the overall cryptocurrency market has been underperforming recently, leading to a significant drop in Dogecoin's price, cryptocurrency expert KrissPax mentioned that Dogecoin's current trend is very similar to the situation before the surge a year ago.
KrissPax points out that DOGE will see a significant rise in 2024, and before that, its price had already surged in November 2023 but then corrected and entered a consolidation phase. A similar situation occurred in November 2024, where DOGE retraced after rising and began to consolidate. Therefore, experts expect Dogecoin to experience the next significant rebound in the coming weeks.
