Dogecoin Price Rally Above $0.74 ATHs In The Works As HTF Trend Holds
Crypto analysts predict a bullish outlook for Dogecoin, with expectations of a rally above its current all-time high (ATH) of $0.74. Analyst Balo suggests a parabolic surge may be near, citing consistent higher lows and repeating price patterns since early 2024. Meanwhile, Crypto Patel forecasts a 'mega run,' predicting DOGE could rally 10x to 33x, potentially reaching $2 and $5 during the next bull cycle, supported by fractal patterns and macro breakout structures. Despite Dogecoin currently trading at $0.17 and experiencing bearish trends, both analysts emphasize the opportunity for accumulation before a major price rally.
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Dogecoin's Potential Rally to a New All-Time High
Crypto analyst Balo has assured that a Dogecoin price rally to a new all-time high (ATH) above $0.74 is in the works. According to Balo, despite recent bearish price actions, the rally may be closer than many expect. In an X post, the analyst noted that Dogecoin's chart indicates a potential surge to $0.8, surpassing its current ATH. He emphasized that a major run for the foremost meme coin is imminent.
Recurring Patterns in Dogecoin's Price Movements
Balo further explained that since early 2024, every local bottom for Dogecoin has been characterized by a “messy” price action seemingly designed to shake out weak hands before a major move upward. He highlighted that DOGE has consistently made higher lows and retained a higher-timeframe (HTF) uptrend, signaling that the current price pattern may be following the same trend.
Opportunities for Accumulation Amid Dogecoin's Downtrend
The analyst admitted that while the prospect of a parabolic surge may feel distant, each mini cycle is drawing DOGE closer to its bull run. He also sees the current downtrend as an opportunity for investors to accumulate DOGE before the price rallies to a new ATH, which he believes is just a matter of time. Currently, DOGE is struggling below the significant $0.2 level, mirroring Bitcoin's price movements. With Bitcoin threatening to drop below $100,000, other analysts, such as Dogecoin OG, predict the DOGE price may fall to the $0.16 range in the short term.
Crypto Patel's Bullish Prediction for Dogecoin
Crypto analyst Crypto Patel has shared a similar bullish outlook, predicting that Dogecoin is ready for its next historic mega run. According to Patel, the breakout and retest phase is complete, and the structure is set for a parabolic explosion. This prediction is based on recurring patterns observed during the 2017 and 2021 bull cycles, which are now repeating on the monthly timeframe. Patel added that the current setup looks even more powerful than before.
Potential Targets for Dogecoin's Price
Patel predicts 10x to 33x growth for Dogecoin, with key targets of $2 and $5 marking new all-time highs. His analysis, supported by fractal confluence and a macro breakout structure, suggests that these levels could be reached sometime next year. At the time of writing, Dogecoin is trading at around $0.17, down over 4% in the last 24 hours, according to CoinMarketCap data.