Crypto analyst Tardigrade Merchant predicted that Dogecoin price could reach double digits if it repeats the historical patterns of the 2017 bull run. The analyst previously predicted that Dogecoin could reach $8.7 if it mirrors the 2017 bull cycle.
Dogecoin Price Could Reach Double Digits If It Follows These Historical Patterns
In a MessageTrader Tardigrade revealed that Dogecoin could have formed two sub-cycles within one cycle. If so, the crypto analyst claimed that DOGE’s next bull run in 2025 would follow the Running of the bulls 2017which also experienced two surges. The analyst’s chart shows that Dogecoin price could reach $30 if it records this second rise, just like in 2017.
In 2017, the price of Dogecoin experienced two increases. During the first cycle, it reached $0.00850 before calming down. After the consolidation period, it saw a more parabolic rally, reaching $0.01. As Tardigrade Merchant indicated, something similar could happen again.
The price of Dogecoin saw a massive rise between October and November, recording a gain of over 200% during this period. However, the top meme coin has since cooled off and consolidated in the $0.4 range. If DOGE should replicate both subcycles surges from 2017this suggests that a more parabolic rally lies ahead.
As predicted by the crypto analyst, this parabolic rally would occur in 2025 and could push the price of Dogecoin up to $30. Trader Tardigrade seems confident that Dogecoin could reach double digits in this market cycle. Previously, he asked market participants to consider taking profits in this bull run when DOGE hits between $10 and $30.
A new ATH is imminent
Analyst Justin Bennett recently predicted that a new all-time high (ATH) was imminent for Dogecoin price. In an X post, he said that a new DOGE ATH appears to be a formality at this point. He noted that the most important meme coin has consolidated well on the daily chart.
The analyst shared daily and weekly chart analysis, which showed that Dogecoin price could rally back to $0.76 during this next rally. The weekly chart showed that Dogecoin could even break the resistance at this level and new rally to $1.6. Meanwhile, on the daily chart, the meme coin could reach $0.85 after crossing the $0.76 resistance.
It is worth mentioning that Dogecoin price is already experiencing bullish momentum again after Elon Musk ยป criticized DOGE in a recent meme it posted on its X platform.
At the time of writing, Dogecoin price is trading at around $0.44, up more than 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Forbes, chart from TradingView
