Crypto Analyst Trader Tardigrade has a historical pattern that led to prominence Dogecoin Price Rise in 2021. Based on their analysis, the leading meme coin is poised for a similar price rally, which could happen soon.
Dogecoin Repeating Chart Pattern 2021
Trader Tardigrade mentioned in a publish that Dogecoin is repeating the same chart pattern as 2021. He noted that the meme coin was “ready to go” and suggested that Dogecoin’s price rally would begin once the bull run Dogecoin is back in full swing. Dogecoin has seen an incredible run of over 28,000% in 2021, meaning that such an impressive price recovery could be on the horizon again for the leading meme coin.
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Crypto Analyst Javon Marks had previously predicted that Dogecoin would perform better than it did in the 2021 Bull Run. He made this prediction because the meme coin has always outperformed its previous run in every subsequent bull run. Based on this, Marks predicted that Dogecoin could rise as high as $17 in this market cycle.
Crypto analyst Ali Martinez also once foreseen that Dogecoin could surge to double digits this market cycle. He made this prediction while noting that the meme coin seemed to mirror its 2021 pattern. He added that this could be a “major parabolic run” for Dogecoin if that were the case.
These crypto analysts make up a long list of people who have made bullish predictions for Dogecoin. While not as bullish as Marks and Matinez, someone like crypto analyst Kevin (formerly of OG Yomi) foreseen that Dogecoin could rise to $3 in this bull run. Crypto analyst Altcoin Sherpa has also predicted that Dogecoin will eventually rise to $1 in this market cycle.
Meanwhile, crypto analyst Andrew Kang has made a bullish case for Dogecoin entering the latter parts of the bull run. He stated These meme coins represent the majority of altcoins that will reach new highs by the end of the year or early 2025.
DOGE poised for a major recovery
Tardigrade Merchant recently predicted that Dogecoin could rise to $0.14 when it makes this “big recovery.” He made this prediction by stating that the meme coin has been “playing Wyckoff Accumulation”, meaning that Dogecoin whales have been adding to their positions. The crypto added that “spring is here now”, alluding to the massive jump that Dogecoin could have from its current price level.
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Dogecoin was one of the most affected coins after the recent bear market trend. This was mainly due to The strong price correlation of the meme coin with Bitcoin. However, with the Major crypto back above $60,000Dogecoin also looks poised for a massive rally, which could take its price to new highs.
At the time of writing, Dogecoin was trading at around $0.11, up more than 3% in the past 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com