Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20

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According to crypto expert Javon Marks, Dogecoin is expected to continue its upward trend, marking a new bullish period for the popular meme currency. Furthermore, Marks has made an estimate of how high Dogecoin might climb during this bull run.

Dogecoin To Rally Above $20 As It Enters New Bull Cycle

According to a recent post on platform X, analyst Javon Marks anticipates that the value of Dogecoin could surge beyond $20, given its current bullish trend. In making this bold forecast, he points out that Dogecoin has consistently demonstrated larger increases during each successive market cycle.

Mark suggested that, given historical trends, Dogecoin might experience a significant surge of more than 60 times its current price and potentially soar above $20. He supported his claim by pointing out that in past bull markets, Dogecoin’s value increased by as much as 90 times in 2017 and an astounding 306 times in 2021. Furthermore, he noted that the current stage of Dogecoin could lead to a “God candle” formation, which would pave the way for reaching this $20 target.

Other crypto experts, including Dima James, anticipate that Dogecoin might surge to double-digit figures during this bull market. James based his prediction on historical trends, suggesting that the popular meme coin could attain such impressive heights. Similarly, analyst Ali Martinez speculated that Dogecoin could potentially hit $23 if it manages to reach the 2.272 Fibonacci level in this cycle.

In the immediate future, attention is likely to center around Dogecoin attempting to regain its previous record high of $0.73 and potentially surpassing it. Crypto expert Master Kenobi forecasts that DOGE might soon reach its previous high due to a potential breakout from a symmetrical triangle formation. Furthermore, the analyst hinted at Donald Trump’s inauguration on January 20th as a possible trigger for this price surge.

Higher Prices Are Expected

According to a recent post by crypto expert Kevin Capital, Dogecoin could potentially see increased prices as long as it remains above $0.26 and follows a positive falling trend channel, as depicted in his attached chart. Additionally, he mentioned that if Dogecoin experiences a breakout from this bullish pattern, the projected target price based on the measured move method is approximately $1.30.

Lately, Dogecoin’s price has plummeted together with the overall cryptocurrency market. But these studies predict there might be further potential for the popular meme coin to surge upwards. In truth, crypto analyst Trader Tardigrade proposes that a bullish turnaround could occur ahead of schedule.

In a recent analysis shared on platform X, it was pointed out that Dogecoin is experiencing a breakout from a double bottom pattern on its 4-hour chart. The graph provided suggests that DOGE may initially bounce back to approximately $0.36, and then potentially regain the significant $0.40 price point.

Currently, as I’m typing this, the price of Dogecoin stands approximately at $0.34. It has experienced a nearly 5% increase over the past 24 hours based on data from CoinMarketCap.

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2025-01-14 20:10