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The much-anticipated major bull run for Dogecoin could be on the horizon as a crypto expert has asserted that DOGE is preparing for its next rally, potentially to a new all-time high. This prediction comes after DOGE’s recent upswingin the last few weeks, suggesting a revival of its bullish momentum. Dogecoin Poised For Massive Gains In The Upcoming Weeks
Amidst rising optimism in Dogecoin, Trader Tardigrade, a seasoned crypto expert and investor, has declaredthat the meme coin is gearing up for its next major run. Trader Tardigrade shared his prognosis on the X (formerly Twitter) platform, which has sparked excitement within the Dogecoin community. Related Reading Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next? 21 hours ago
The market expert claims DOGE is poised for its next bull runafter citing key price patterns on its chart, particularly the Hidden Bullish Divergence formation, showing that the dog-themed meme coin is building strength for a potential breakout. A bullish hidden divergence formation typically happens within a downtrend, indicating a possible reversal or slowing of the downward momentum.
Trader Tardigrade cited the key pattern in the 4-hour time frame of Dogecoin’s Relative Strength Index (RSI). According to the analyst, this crucial indicator offers early signs of a sustained upside trend in Dogecoin, allowing the digital asset to reach higher highs. Hidden Bullish Divergence forms on DOGE’s 4-hour chart | Source: Trader Tardigrade on X
As DOGE prepares for its next significant rally, Trader Tardigrade expects2 major pumps to take place in the short term, demonstrating his robust confidence in the asset’s near-term prospects. His prognosis is based on historical price trends, whereby DOGE saw multiple rallies to its market top in the last two bull cycles.
For the first pump, the expert has placed his next target at the $2 price level. Meanwhile, the second pump is set to trigger a move to the $20 thresholdshould history repeat itself. As a result, the analyst believes DOGE’s bull run has just started, noting it is still early to capitalize on the upswing. DOGE’s Market Top Coming Soon Than Expected?
Accordingto crypto analyst, Dima James Potts, Dogecoin’s market top appears to be much closer than widely expected. He made the claims after identifying price trends akin to previous cycle tops. Related Reading Dogecoin Price To $1 Soon? Textbook Weekly Golden Cross Shows What’s Coming Next 1 week ago
In the first and second cycles, DOGEwitnessed a surge of 21,821% and 54,890%, respectively, from its bear market low to its peaks. Although the third cycle has not yet topped, should past events reoccur, James Potts expects DOGE to top around January 19, 2025, since the meme coinhas often reached its peak in approximately 1446 days.
DOGE’s market top for this cycle might be fast approaching, but the expert is confident that this cycle’s rally might be larger than the past occasions as the percentage gains in each previous cycle have risen, placing his target at $36.
With indications of a resurgence in the general cryptocurrency landscape, Dogecoin might take advantage of the renewed momentum and see more increases in the upcoming days. DOGE trading at $0.38 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com