The highly anticipated Dogecoin bull market may be on the horizon, as a cryptocurrency expert asserts that Dogecoin is preparing for the next round of rebounds, potentially setting new historical highs. This prediction was made after Dogecoin's rise in recent weeks, indicating that its bull market momentum is recovering.
Dogecoin is expected to achieve significant gains in the coming weeks.
As optimism for Dogecoin continues to rise, experienced cryptocurrency expert and trader Tardigrade claims that this meme coin is preparing for the next big surge. Trader Tardigrade shared his predictions on the X (formerly Twitter) platform, causing a stir in the Dogecoin community.
Market experts state that DOGE is ready for the next round of bull market, previously citing key price patterns on the charts, especially the hidden bullish divergence pattern, indicating that the dog-themed meme coin is building momentum, ready to break out. Hidden bullish divergence typically occurs in a downtrend, suggesting that the downward momentum may reverse or slow down.
Trader Tardigrade cited key patterns in the Dogecoin Relative Strength Index (RSI) over a 4-hour timeframe. According to analysts, this key indicator provides early signs of the sustained upward trend for Dogecoin, enabling the digital asset to reach higher highs.
As DOGE prepares for the next significant rise, trader Tardigrade anticipates two large surges in the short term, indicating his confidence in the asset's short-term outlook. His prediction is based on historical price trends, showing that DOGE has repeatedly risen to market tops during the past two bull market cycles.
For the first surge, experts set the next target at the $2 price level. Meanwhile, if history repeats itself, a second surge could trigger a rise to the $20 threshold. Therefore, analysts believe that the bull market for DOGE has just begun and point out that it is still too early to take advantage of the upward trend.
Is DOGE's market top arriving faster than expected?
Cryptocurrency analyst Dima James Potts stated that the market top for Dogecoin seems closer than generally expected. He made the assertion after finding that the price trend is similar to previous cycle tops.
In the first and second cycles, DOGE surged from bear market lows to peaks of 21,821% and 54,890%, respectively. Although the third cycle has not yet peaked, if past events repeat, James Potts expects DOGE to peak around January 19, 2025, as this meme coin typically reaches its peak in about 1,446 days.
The market top for DOGE in this cycle may be coming soon, but experts believe that the rebound in this cycle could be larger than in the past, as the percentage gains in each previous cycle have been increasing, with a target price of $36.
With signs of recovery in the overall cryptocurrency market, Dogecoin may take advantage of this new momentum to achieve further rises in the coming days.
