Bitcoin and Dogecoin Historical Price Action Leads Top Analysts to Believe DOGE Hitting $1 Is Near: Here’s the Timeframe
Analysts Ali (@ali_charts) and Karl (@karl_xbt) have sparked excitement in the Dogecoin community with their bold predictions about the meme-inspired cryptocurrency potentially embarking on a meteoric rally.
On March 8th, Ali (@ali_charts) tweeted, “This may sound wild, but if history is any guide, #Dogecoin $DOGE could hit $1 by mid-April!”
Echoing Ali’s sentiment, analyst Karl (@karl_xbt) shared his own analysis, stating: “Small case study on $DOGE and how it ran after $BTC broke its ATH in 2020. I think we are on the verge of seeing something similar when $BTC breaks through $69,000. Leading me to believe that #DOGE is on the trajectory for $1 and higher.”
Karl has conducted a “small case study” analyzing how Dogecoin’s price reacted and “ran” higher after Bitcoin broke its previous all-time high price level back in 2020. Based on this historical analysis, Karl believes we are now nearing a similar setup where Bitcoin is on the verge of breaking through its all-time high of around $69,000 that was set in November 2021.
Karl expects that just as Dogecoin saw a major price rally after Bitcoin’s 2020 all-time high breakthrough, a similar phenomenon could play out if/when Bitcoin takes out its $69,000 record high. This leads Karl to conclude that Dogecoin is “on the trajectory for $1 and higher” price levels, mirroring the kind of explosive upside move it exhibited after Bitcoin’s previous record was broken in 2020.
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If Dogecoin were to rally from $0.17 to $1 as predicted by the analysts, that would represent an increase of approximately 488%.
The analysts did not provide any other specific details beyond their bold predictions about Dogecoin potentially hitting $1 by mid-April based on studying its historical price action in relation to Bitcoin’s movements.
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