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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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The 4-Year Cycle Shows Dogecoin Price Will Reach $1, Here Is The Reason
In a post on X, KrissPax hinted at the 4-year cycle to demonstrate why the price of Dogecoin could still reach $1. He stated that this meme coin has historically shown patterns reinforcing these cryptocurrency trading cycles. The analyst added that from bear market to bull run and sharp declines, DOGE has repeated these fluctuations, indicating a parabolic bull run is likely to occur this fall. In line with this, KrissPax remarked that the price of Dogecoin could reach $1 if it follows the upward sloping white resistance line, which he highlighted on the accompanying chart. Furthermore, he stated that if DOGE follows the blue curve from 2017, which supports the theory that the increases will be less in each cycle with a larger market capitalization, then the price could reach $2 in this cycle.
The price of Dogecoin is currently on an upward trend again after falling below the psychological threshold of $0.20 during the latest market correction. DOGE has risen over 17% in the past seven days and is currently looking to reclaim the previous high of around $0.26. Cryptocurrency analyst Ali Martinez has predicted that this will happen soon. In a post on X, Martinez stated that the price of Dogecoin is targeting the $0.27 level as it forms a bullish flag pattern on the hourly chart. Cryptocurrency analyst Trader Tardigrade also highlighted the breakout of DOGE on the 4-hour chart and noted that this meme coin is currently targeting the $0.295 level. Similar to KrissPax, Trader Tardigrade also pointed out that this meme coin could reach a price of 1 dollar at some point. He revealed that the price of Dogecoin has confirmed a bullish crossover on the daily chart. This analyst also noted that a significant bullish move could occur at this time. His accompanying chart shows a target of 1 dollar. The Best Is Yet to Come with DOGE In a post on X, cryptocurrency analyst Kevin Capital stated that the best bullish momentum for Dogecoin has not yet arrived. He noted that all monthly momentum, strength, and sentiment indicators for DOGE indicate that investors have yet to see the potential of this leading coin. He pointed out that this is similar to many other altcoins. Kevin Capital further stated that if the macro situation remains stable and Bitcoin prices hold, then the biggest price fluctuations for Dogecoin may still be ahead. The Fed is expected to cut interest rates in September, a positive signal for DOGE, as this could pump additional liquidity into the coin.