Dogecoin Price Completes First Bull Phase Similar to Previous Cycles
Crypto analyst KrissPax indicated that Dogecoin has completed the initial phase of its bull cycle, mirroring trends from the 2021 bull run. Insights were shared regarding potential future movements for Dogecoin.
Dogecoin Price Completes First Bull Phase
In a post on X, KrissPax stated that Dogecoin's price has finished its first upward phase in this cycle, similar to patterns seen in the 2021 and 2017 bull runs. Historical data suggests two additional up-phases with significant gains may follow before reaching a peak in this market cycle.
Patience is advised as Dogecoin might experience sideways movement until the next phase begins. Analyst Ali Martinez noted that Dogecoin could test market participants' patience during this parabolic run, referencing sell signals from the TD Sequential indicator that may precede a brief correction before resuming the rally.
In a prior analysis, KrissPax predicted that Dogecoin could potentially reach $3 in this cycle, with an initial target of $1. Achieving the $1 mark would set the stage for a subsequent rise towards $3. Martinez's chart suggested a possible rally to $14 if Dogecoin approaches the upper boundary of its channel, with a median expectation just above $1.5.
Almost Time For The Next Leg Up
Analyst Kevin Capital suggested that Dogecoin is nearing its next upward movement. He indicated that after sufficient consolidation, key daily indicators have reset, implying that Dogecoin is poised for growth.
Kevin added that this upcoming phase will clarify the macro top for Dogecoin's price. Analyst Master Kenobi commented that the next leg may occur suddenly. His chart forecasts a breakout above the current all-time high (ATH), projecting a potential increase to $1.08.
Currently, Dogecoin trades around $0.42, reflecting over a 5% increase in the last 24 hours, based on CoinMarketCap data.
