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Dogecoin

Can Dogecoin Price Hit $20? Here’s What Will Happen If DOGE Repeats Previous Cycles

Scott Matherson
by Scott Matherson
8 months ago
·
Posted in Altcoin News, Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto analyst Trader Tardigrade has raised the possibility of the Dogecoin price rallying to as high as $20 in this bull run. The $20 price prediction came into the picture as the crypto analyst revealed what would happen if DOGE repeated previous cycles. 

Dogecoin To Rally To $20 If This Happens

In an X post, Trader Tardigrade predicted that the Dogecoin price could rise to as high as $20 if it replicates its historical performance. He noted that Dogecoin experienced bull rallies after surpassing the previous candle body high in 20217 and 2021, with gains of 3,000% and 8,000%, respectively. 

Related Reading: Dogecoin Price Breaks Symmetrical Triangle Ahead Of Trump’s Inauguration – What To Expect

In line with this, he predicted that the Dogeocoin price could rally to as high as $20.68 if DOGE follows a similar pattern. Interestingly, Trader Tardigrade previously predicted that DOGE could rally to as high as $8 if it mirrors the 2017 bull run and rally to as high as $30 if it mirrors the 2021 bull run. 

Dogecoin
Aligning price trend points to $20 for DOGE | Source: Trader Tardigrade on X

Meanwhile, the crypto analyst also suggested that the foremost meme coin could soon begin the next leg of its bull run. In another X post, he stated that the Dogecoin price has broken out a converging triangle and the moving average convergence divergence (MACD) shows a bullish crossover. He added that DOGE may start a bull rally from here. 

Crypto analyst Ali Martinez also hinted a bullish reversal for the Dogecoin price. In an X post, he stated that the TD Sequential has presented a buy signal on DOGE’s hourly chart. This indicates that the foremost meme coin could be well primed to record another move to the upside. 

DOGE’s Outlook Is Far From Bearish

In an X post, crypto analyst Kevin Capital made a case for why the Dogecoin price is far from being bearish. He stated that DOGE is still seeing fast expansion on the 50 and 200 moving averages after its weekly golden cross occurred. He added that the meme coin is above the macro golden pocket at $0.26 and is battling the macro .786.  

Related Reading: Dogecoin Price Prediction: Pundit Says Expect DOGE At $1.30 If This Level Holds

In line with this, he suggested that there was no reason for market participants to be bearish on the Dogecoin price. However, in the meantime, he mentioned that he wasn’t focus very much on DOGE or other altcoins because the Bitcoin price will determine the next move in the market. The crypto analyst reassured that nothing has changed regarding DOGE’s bull run, stating that cycle tops don’t occur when everyone is bearish. 

Crypto analyst Javon Marks also recently made a bullish case for the Dogecoin price, predicting that it could witness at least a 5x increase from its current level. 

​​At the time of writing, the Dogecoin price is trading at around $0.35, down over 3% in the last 24 hours, according to data from CoinMarketCap.

Dogecoin
DOGE trading at $0.34 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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