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If you don’t know what to do in the bull market, you are welcome to scan the code to join the group for free. The spot code and layout strategy of the bull market can be shared for free. Welcome to private message me to join us Penguin number can be added: 3838974575 Dogecoin is exhibiting similar trends to its first full bull cycle, and if it were to mirror the bull run entirely, the meme coin’s price could soar to unprecedented heights. October is coming to an end and Dogecoin has fallen sharply. The Internet meme coin, the largest by market capitalization, has fallen 20% since the beginning of the month, in stark contrast to a 41% gain in October 2024, a 10% gain in October 2023, and a 105% surge in October 2022.  8-year-old Dogecoin pattern reborn Amid the generally bearish market sentiment, analyst Trader Tadrigrade noted similarities between the current price action and Dogecoin’s first bull cycle. He based this conclusion on an analysis of Dogecoin’s two-month chart. In particular, he noted that Dogecoin’s price action continued within a symmetrical triangle for more than a year before breaking out to unprecedented prices. This process occurred between January 2016 and February 2017, with a breakout of the triangle in March 2017. Following the breakout, Dogecoin price surged a staggering 6,366%, from $0.0003 to a high of $0.0194 in January 2018. Prior to the formation of the symmetrical triangle pattern, Dogecoin experienced a period of price downturn, which the analysts highlighted in red in the accompanying chart. Interestingly, similar consolidation occurred during the 2022 and 2023 bear markets, further strengthening the correlation between the two.  Dogecoin entered its current triangle formation in late 2024 and has been developing within this structure ever since. Notably, prices are tightening and Dogecoin has filled the symmetrical triangle, sparking optimism that a breakout is imminent. goal after breakthrough Tardigrade believes this formation is bullish for Dogecoin and expects an explosive price increase following the breakout. Specifically, the chart suggests price could rise to around $3.90, in line with the first breakout target of 2018. As of press time, Dogecoin is trading at $0.18, and if the breakthrough is successful, the increase will reach 2066%. However, further gains for Dogecoin (DOGE) are still possible. The chart shows that its price could soar to the ambitious $48 price target. If the circulating supply remains at 151.57 billion coins, a 26566% increase would bring Dogecoin's market value to $7.27 trillion, but this is somewhat unrealistic for an Internet meme coin. However, this isn’t the first time bold predictions for Dogecoin’s price have emerged in recent times. JezzaBTC said last month that Dogecoin prices could rise to $18, citing a recurring pattern in the coin’s charts. He believes that this increase will make many holders rich, but this is still extremely unlikely. If you don’t know what to do in the bull market, you are welcome to scan the code to join the group for free. The spot code and layout strategy of the bull market can be shared for free. Welcome to private message me to join us Penguin number can be added: 3838974575 |
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