Dogecoin could reach $0.13! Can DOGE replicate the bull run of 2021?
Something interesting is happening with Dogecoin!
This is the same level of network activity recorded in March 2020. Nine months later, Dogecoin began to rise, with the price rising from $0.01 to $0.65 between January and May 2021.
Will it take a few months for DOGE to achieve a breakout?
In the cryptocurrency market, history does not necessarily repeat itself. However, patterns tend to be consistent. If this historical pattern repeats itself, then DOGE could start heading towards a parabolic rally that could begin in March or April 2025.
However, it is also possible that the price increase could begin before the aforementioned period.
As of the time of writing, the price of Dogecoin is $0.11. Over the past 365 days, the price of Dogecoin has increased by 62.36%. Despite the rise in Dogecoin price, it is still 84.56% below its all-time high (ATH).
Bulls need to get $0.13 before going all-in
If the price is above this level, it means the bull run has begun. If the price is below this level, it means the potential rise has not yet started. However, the price is about to surpass the 20 EMA (blue). If successful, this could drive the coin price higher.
When it falls, it means that buyers are weak. Therefore, the recent rise means that buying pressure has increased. If confirmed, this could stimulate Dogecoin to rise by 27.56% to $0.13.
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However, market participants should remain vigilant. If the selling pressure increases, Dogecoin may fall back to $0.10. However, regardless of the short-term market conditions, DOGE's long-term potential remains bright.
