As Dogecoin approaches its best cyclical performance in its third year ever, a prominent market expert stated that the leader of this meme coin will perform even better next year.
Dogecoin is experiencing its best cyclical third year ever. The largest meme token by market capitalization has appreciated an astonishing 243% over the past year, largely due to the price surge in November.
With this trend, the token's performance in 2016 and 2020 also improved. For context, Dogecoin grew by 72.37% and 114.86% in those years, which pales in comparison to this year's surge.
It is noteworthy that the fourth year of each cycle is the best year for Dogecoin's performance. The percentage increase of this asset has already surpassed the previous cycle, and a community enthusiast known as the 'Chief Investment Officer' expects a similar situation to occur next year.
Analyst: Dogecoin will rise 12,000% by 2021.
On a Christmas day, a postal analyst and Chief Investment Officer believes that Dogecoin will repeat its cyclical performance in the fourth year. Meanwhile, he stated that the Meme token will improve on the gains seen in 2021.
For context, Dogecoin surged 12,000% in 2021, reaching an all-time high of $0.73995. Notably, this year's increase is more than double that of 2018, when the leading meme token skyrocketed by 5,000% six years ago.
Meanwhile, a prominent community figure asserts that this historical trend will continue into next year. By 2025, Dogecoin's increase is expected to exceed 12,000%, which would drive Dogecoin to an unprecedented price of over $40 each.
Dogecoin market experts support this claim.
Although this prediction is ambitious, the analyst is not the only one holding this view. In fact, another analysis supports the claim made by Dogecoin enthusiasts that the increase exceeds 12,000%.
For context, seasoned market analyst Ali Martinez ridiculed the idea. In a recent assessment, he revealed similarities in Dogecoin's last three bull market cycles.
The assessment states that Dogecoin surged 212% from the bear market low, pulled back 40%, and skyrocketed by 5,000% in 2017. The token's price repeated a similar pattern in 2021, growing by 476%, correcting by 56%, and then appreciating by 12,000%.
Martinez pointed out that Dogecoin has grown by 440% and is currently in a correction phase, with a pullback of over 46%. If a similar pattern fully materializes, the leader of the meme coin market could rise over 12,000% by 2025.
Meanwhile, the trading price of DOGE is $0.3170, having dropped 4.5% in the past 24 hours.
