Sep 10, 2024 12:05
Crypto analyst Trader Tardigrade has made an ultra-bullish prediction for Dogecoin (DOGE), suggesting that the foremost meme coin will rise to $3.7. The analyst also provided insights into when this meteoric rise will happen. When Dogecoin Will Rise To $3.7 The accompanying chart, which Trader Tardigrade shared in his analysis, showed that Dogecoin will rise to $3.7 in 2025 and could be the peak for the foremost meme coin in this market cycle. As part of his analysis, the crypto analyst explained why he was confident that a price pump was on the horizon for the foremost meme coin. Related Reading: Bitcoin Rainbow Chart Forecasts An End To Bearish Headwinds With $60,000+ Target Trader Tardigrade mentioned that Dogecoin consistently forms inverse Head and Shoulders in each cycle. He further noted that the mem coin is currently at the right shoulder in this cycle, meaning that the price rally that comes after the corrective move on the right shoulder is imminent. His accompanying chart showed how Dogecoin rose to its current all-time high (ATH) of $0.73 after this bullish pattern formed back then. It is worth mentioning that Trader Tardigrade isnt the only crypto analyst who has predicted that Dogecoin could rise to as high as $3.7 in this bull run. Crypto analyst Kevin Capital (formerly OG Yomi) once predicted that Dogecoin could rise to as high as $3.80 and even surpass it. He explained that the foremost meme coin has never failed to meet or surpass the 1.618 Macro FIB extension measured from previous bull market highs to bear market lows. Kevin also recently provided a bullish analysis for Dogecoin, stating that the meme coin should reach its current ATH or close to it in December later this year. He explained that his prediction is based on the average time between previous ATHs and crypto cycles. He urged Dogecoin holders to stay positive as the market is still in a bullish trend even though it might take a while for the meme coin to recover. DOGE Could Lead The Next Market Rally Crypto analyst Ali Martinez raised the possibility of Dogecoin being the coin that first breaks out and kicks off the next leg up. The crypto analyst also gave a bullish analysis of the meme coins current price action. Martinez told market participants to watch out for a falling wedge on the daily chart as a sustained close above $.10 could spark a bullish run to $0.15. Related Reading: XRP Price To $100: Why Has It Not Hit This Price Yet? Kevin also highlighted this falling wedge pattern in a recent analysis, stating that Dogecoin was showing signs of being oversold on higher time frames and looking primed for a breakout soon. He remarked that Dogecoins setup is as bullish as it can be. At the time of writing, Dogecoin is trading at around $0.09, up over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
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