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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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.