Cryptocurrency analyst Ali recently shared the data of X, emphasizing the historic price surge of DOGE. From the data, the price of DOGE has experienced some significant surges in the past - rising by 1,000% twice during the bull market, each time lasting 27 to 42 days. Currently, its trading price is about $0.38, and people are wondering if we will see another significant surge.
From the candlestick chart, it can be seen that the price of Dogecoin has experienced two surges. The first surge can be traced back to 2017, when the price of a token rose from $0 to $0.0022 within 42 days. The second surge occurred in 2021, and it surpassed all previous surges as the price exceeded $0.5 within just 27 days. Many retail investors are excited about this, which helps drive up the price.
During these periods, the DOGE price has risen rapidly and the trading volume has increased significantly. This indicates that Dogecoin can bring substantial returns in a short period of time, despite the high risks. After these significant increases, the price usually stabilizes and remains within a range for a period of time.
As of early 2025, the trading price of DOGE is about $0.38, recovering from the early pullback area. The current price trend indicates a bullish momentum, forming higher lows compared to the previous decline. Key support levels have been identified at $0.005, $0.055, and $0.06, while resistance levels are around $0.4 and $0.7.
The price trend is consistent with the historical trend of a long-term consolidation phase before a significant breakthrough. Analysts point out that the current market behavior may represent the early stage of a potential new uptrend.
Analyst tweets trigger investor speculation
Alibaba's tweet emphasized the 1,000% rapid rise in the past cycle, sparking discussions in the cryptocurrency community about the possibility of a similar rebound in the future. His observations indicate that DOGE has historically demonstrated the ability to generate significant returns in a relatively short period of time.
Market participants are now monitoring trading volume as past bull market cycles coincided with a sharp increase in market interest. It remains uncertain whether the price of Dogecoin can replicate its past performance, but its historical trend continues to be a focal point for traders.
Key patterns and observations of traders
The previous bull market of DOGE highlighted its speculative nature and the trend of moving in a parabolic pattern during the bull market phase. These moves are usually driven by retail speculation, media attention, and a significant increase in trading volume. The fluctuations in the price of DOGE demonstrate how crucial timing is when dealing with such unpredictable markets.
Currently, the price of DOGE is near a key resistance level, and everyone who trades or studies the market is carefully observing what will happen next. Although historical data can provide insights into potential outcomes, the highly speculative nature of DOGE requires careful consideration.