- The pioneer memecoin takes after the bullish lead carved by Bitcoin.
- Analyst marks a bullish sign for DOGE that beats its previous cycle pattern.
- Traders are advised to trade with caution as DOGE price could go parabolic.
As Bitcoin (BTC) reclaims the $95,000 price range, altcoins continue to show strong bullish indicators and Dogecoin (DOGE) is one such asset garnering attention as its current market cycle appears to be unfolding approximately two months ahead of the timeline observed in the previous cycle.
Dogecoin (DOGE) Exceeds Previous ATH Pattern
As we can see from the post above, one analyst breaks down what the pioneer memecoin asset is up to. He begins with a brief look at the previous crypto bull cycle where back in 2020, the bullish movement began for Dogecoin on November 3. This time, however, the DOGE rally kicked off on September 2, 2024.
The analyst says that based on the long-term predictions shared over the past 18 months, the trajectory of DOGE aligns remarkably well with historical patterns. Thus, if this trend continues, analysts believe DOGE could reach a new all-time high (ATH) within the next two weeks, possibly around December 2.
In fact, the analyst adds that projections suggest that DOGE could touch the yellow trendline at approximately $1.08, with the orange line marking a potential target of $2.90. Realistically, the analyst predicts a midpoint target of around $1.40 to $1.45, roughly double its previous ATH.
DOGE Holders Advised to Trade with Caution
Such projections offer a glimpse of what might be achievable if historical trends hold true. However, the analyst urges traders to approach these insights with caution. While history can guide, the unpredictable nature of macroeconomic factors and market sentiment cannot be ignored.
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