{"id":37021,"date":"2025-01-18T20:00:50","date_gmt":"2025-01-18T20:00:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37021"},"modified":"2025-01-18T20:00:50","modified_gmt":"2025-01-18T20:00:50","slug":"crypto-analyst-predicts-when-dogecoin-price-will-hit-3-this-cycle","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37021","title":{"rendered":"Crypto Analyst Predicts When Dogecoin Price Will Hit $3 This Cycle"},"content":{"rendered":"

Dogecoin has cleared the $0.4 mark again <\/a>after a few days of interesting price inflows that have caused its price to rebound notably from $0.31. This strong upward movement has allowed Dogecoin to reverse the price losses it incurred in the previous week. <\/p>\n

Furthermore, this recent rally has positioned Dogecoin back on track for further upward movement, and the next outlook is price targets to expect<\/a> in the case of a continued rally henceforth.<\/p>\n

A technical analysis on the TradingView platform highlighted a compelling comparison between Dogecoin\u2019s current price movements and its historical patterns to predict a significant rally that could bring Dogecoin to $3 this cycle.<\/a>\u00a0<\/p>\n

Dogecoin\u2019s Consolidation Mirrors January 2021 Rally<\/strong><\/h2>\n

The technical analysis in question<\/a> looks at Dogecoin\u2019s price action from a long-term perspective by analyzing formations on the weekly candlesticks. Interestingly, the weekly candlesticks show Dogecoin has been consolidating just below the $0.5 price level in a downward and upward movement throughout the past six weeks.\u00a0<\/p>\n

The analyst highlighted that Dogecoin\u2019s recent consolidation is almost an exact replica of a similar behavior above the 1-week moving average (MA50) in January 2021. This symmetrical positioning in time relative to the previous market cycle adds credibility to the argument that Dogecoin is following a cyclical pattern, which has been proposed by various analysts through multiple technical analyses. <\/p>\n

Back in 2021, the cryptocurrency transitioned from a period of accumulation to explosive growth, generating returns of over 3,600% from its bottom.<\/p>\n

Expanding on this cyclical pattern, the analyst highlighted another similarity in Dogecoin\u2019s price rally in Q4 2024. Dogecoin\u2019s price has risen by approximately 480% since its August 2024 bottom,<\/a> a figure that matches the 480% increase observed during the November-December 2020 period. <\/p>\n

Following that initial phase 1 surge in 2020, Dogecoin entered a consolidation phase in January 2021 before starting phase 2 of its rally. The current consolidation, therefore, appears to mirror this historical sequence and lends voice to a prediction that Dogecoin may be on the verge of repeating its past performance<\/a>.<\/p>\n

Phase 2 Target: A Path To $3<\/h2>\n

Based on the historical precedent, the analyst anticipates that Dogecoin\u2019s \u201cPhase 2\u201d could bring a rally of 3,600%, similar to the cycle observed in early 2021. In terms of a price target, the projection is a 3,600% increase from the August 2024 low, which would bring Dogecoin towards the $3 mark. The timeframe for this price target is as early as the next three weeks, though the analyst noted that it could occur much later than that.<\/p>\n\n

At the time of writing, Dogecoin is trading at<\/a> $0.3947, although it recently traded at an intraday high of $0.4334. A move to $3 would represent a 777% increase from the current price.\u00a0<\/p>\n

Featured image from VOI, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Dogecoin has cleared the $0.4 mark again after a few days of interesting price inflows that have caused its price to rebound notably from $0.31. This strong upward movement has allowed Dogecoin to reverse the price losses it incurred in the previous week. Furthermore, this recent rally has positioned Dogecoin back on track for further […]<\/p>\n","protected":false},"author":0,"featured_media":37022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37021"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37021"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37022"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}