Connect with us

Hi, what are you looking for?

Crypto News

Analyst Predicts Dogecoin Price Can Reach $80, Here’s When

Analyst Predicts Dogecoin Price Can Reach $80, Here's When

Crypto analyst DOGECAPITAL has provided an ultra-bullish outlook for the Dogecoin price, suggesting it could rally to as high as $80. The analyst’s chart also hinted at when the foremost meme coin could reach this ambitious price target.

Here’s When The Dogecoin Price Could Reach $80

In an X post, DOGECAPITAL made an analysis of the Dogecoin price in which he suggested that DOGE could rally to as high as $80. His accompanying chart showed that the foremost meme coin could reach this target between now and 2026.

Image

In his analysis, he also explained why the DOGE price is primed for a parabolic rally. DOGECAPITAL noted that in previous cycles, Dogecoin has always witnessed a parabolic upward reversal whenever the meme coin has approached the lower white on his accompanying chart, especially in the fourth year of each cycle.

A similar price action already looks to be playing out for DOGE. The analyst remarked that market participants are seeing another opportunity for a bounce at the lower white line, similar to the pattern seen in 2021. He added that if historical trends repeat, Dogecoin will likely begin its upward reversal soon, entering phase 2 of its parabolic rise.

DOGE Replicating 2017 Pattern

Crypto analyst Master Kenobi revealed that the current pattern on the DOGE chart rhymes well with the 2017 pattern. He further remarked that the bull market then consisted of two roughly equal pumps, both in terms of value and duration.

Image

Based on this similarity between the current price action and that of the 2017 bull run, the crypto analyst predicted that the top meme coin could reach a top of $1.1 sometime in the first week of June. He added that there is no guarantee this will actually happen, but as an interesting observation, he claimed that it might be worth considering.

Crypto analyst Trader Tardigrade also provided a bullish outlook for the Dogecoin price, He revealed that the DOGE’s weekly candle closed with a Doji. The analyst noted that this indicates a potential reversal from a downtrend to an uptrend at this level. Alluding to previous DOGE candles, he added that there was a Doji right at the start of the last surge.

Image

In another post, Trader Tardigrade asserted that Dogecoin is building momentum for an uptrend reversal. He revealed that the 4-hour chart shows an ascending triangle with higher lows formation.

Image

Crypto analyst Ali Martinez mentioned that Dogecoin is at the edge, facing a big test. He raised the possibility of the meme coin dropping below $0.16711. However, if it holds firm, it could rebound to as high as $6.5.

Image

The post Analyst Predicts Dogecoin Price Can Reach $80, Here’s When appeared first on CoinGape.

You May Also Like

World News

US Secretary of State Marco Rubio will discuss the possibility of deporting suspected Tren de Aragua gang members to El Salvador in an upcoming...

Science&Tech News

Consumer rights group Which? is suing Apple for £3bn over the way it deploys the iCloud. If the lawsuit succeeds, around 40 million Apple...

Science&Tech News

Battle lines have been drawn between the almost 200 countries meeting in Azerbaijan as they seek to agree a new pot of money to...

Crypto News

The Bank of Russia has issued a directive for financial institutions to prepare for the integration of the digital ruble. The move aims to...