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Dogecoin price

Past Performance Says Dogecoin Price Will Fall To $0.32 And Then Rocket 60% To $0.52, Here’s Why

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

Crypto analyst Bartfil has provided insights into the next move for the Dogecoin price based on past performances. Based on his analysis, Dogecoin could witness a significant price correction before it continues its upward trend. 

Where The Dogecoin Price Is Headed Next

In a TradingView post, Bartfil compared the current situation of the Dogecoin price to its price action during the previous bull market. This led to the analyst’s prediction that Dogecoin could drop to around $0.32 to $0.34. The analyst added that DOGE could then witness a strong rally to around $0.52 to $0.53. 

Related Reading: Dogecoin Price Consolidates Ahead Of Rally, Can The Next Leg-Up Push It To A $0.74 ATH?
Dogecoin price 1
Source: TradingView

That Dogecoin price range is the 68.8 Fibonacci level of the global swing from the peak of the previous bull market to the bottom. Once the Dogecoin price peaks, Bartfil predicts that the foremost meme coin could still experience a significant drop to around $0.25. The analyst’s accompanying chart suggested that Dogecoin could peak between now and March 2025 and then record this price drop to $0.25 in the second quarter of next year. 

Crypto analyst Trader Tardigrade also predicted that the Dogecoin price could peak by March 2025 if it mirrors the 2021 bull run. However, the analyst provided a more bullish outlook for Dogecoin, stating that DOGE could reach as high as $30 by then. Meanwhile, the analyst predicted that the meme coin would reach $8 by August 2025 if it mirrors the 2017 bull run. 

In the meantime, the Dogecoin price is at risk of a drop to $0.32 based on Bartfil’s analysis. Crypto analyst Kevin Capital also recently warned that Dogecoin could drop further from its current levels if it starts closing candles below a trendline, which he highlighted on the chart. 

Overbought Condition Has Eased

In an X post, Trader Tardigrade said that DOGE’s Relative Strength Index (RSI) overbought condition had eased back to 50 since the Dogecoin price pullback occurred. With the overbought condition now cooling off, the crypto analyst remarked that another uptrend could happen for Dogecoin at any time now. 

DOGE price 2
Source: TradingView

The analyst’s accompanying chart showed that the Dogecoin price could rally to $0.54 on its next leg up. Based on the chart’s projections, this rally could happen before the year ends. Meanwhile, in another post, the analyst reaffirmed that the Dogecoin bull cycle still has a long way to go. 

Related Reading: Shiba Inu Burn Skyrockets 1,068% Amid Market Bleed, Can Bullishness Push Price Above $0.00003 Again?

The analyst revealed that the Dogecoin price was currently consolidating at a location similar to the 2021 bull run. His chart showed that this range was just before Dogecoin recorded its next leg up in that cycle. Meanwhile, Trader Tardigrade again suggested that the foremost meme coin could peak at around $34 in this market cycle. 

Dogecoin price 3
Source: TradingView

At the time of writing, the Dogecoin price is trading at around $0.39, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

Dogecoin price chart from Tradingview.com
DOGE price regains bullish momentum | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, 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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