A new study by FieryTrading, posted on TradingView, suggests that Dogecoin (DOGE) could reach $2 this cycle. This prediction is based on past price trends and how the market has behaved in earlier cycles.
What you'll learn 👉
Historical Price Action Analysis
FieryTrading’s analysis focuses on DOGE’s performance in past bull cycles, noting two significant price surges:
- A 9,000% increase occurring 38 months after the previous market top
- A 30,000% surge happening 34 months after the preceding cycle peak
The expert notes that February 2024 was around 33 months after the last big rise in DOGE price, which matches the timeframes seen in earlier bull cycles.
Potential for Significant Growth
The expert says past price action may not exactly reflect the future, but think even a small part of the growth in earlier cycles could push Dogecoin to new highs. The analysis suggests a price of $1 or even $2 for Dogecoin is quite possible based on what has happened before.
FieryTrading includes an important disclaimer, stating that the analysis is based on only two previous occurrences in markedly different macro market conditions. The projection relies solely on timing, and the analyst emphasizes that it’s unlikely the scenario will unfold exactly as presented.
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The analysis has sparked discussion within the cryptocurrency community, with many investors reconsidering DOGE’s potential in the current market cycle. FieryTrading encourages readers to share their thoughts on Dogecoin’s prospects, highlighting the speculative nature of meme coins and the importance of community sentiment in driving price action.
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