Dogecoin’s price has shown some interesting patterns over the years, suggesting a potential path to the much-anticipated $10 mark. Let’s dive into the details.
Repeating History: Dogecoin’s Bull Cycles
A crypto analyst, Dima Potts James, noticed a recurring pattern in Dogecoin’s monthly price charts. They’ve identified three distinct bull cycles, each showing a similar upward trend. This trend involves a series of four consecutive months of price increases (let’s call them “purple candles”).
Cycle 1: Dogecoin climbed from under $0.0004 to around $0.003 in four “purple candles” before hitting a resistance level.
Cycle 2: This time, the climb to the same resistance level was even faster, also taking about four “purple candles.” Importantly, Dogecoin broke through that resistance this time, eventually peaking at its all-time high of $0.7316.
The Current Cycle and Future Predictions
Currently, Dogecoin is in its third bull cycle and is already showing two “purple candles,” with a third underway. If history repeats itself, we can expect Dogecoin to reach a resistance line sometime in December. This line isn’t fixed; it moves upward over time.
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December Projection: If Dogecoin hits this moving resistance line in December, the price could be around $1.50.
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Beyond $1.50: Just like in the second cycle, breaking through this resistance could lead to significantly higher prices. The analyst’s technical analysis suggests a potential peak of $10 sometime in 2025.
Important Note: As of writing, Dogecoin is trading at $0.454. These are predictions based on historical patterns, and the actual price could vary significantly./p>
