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Dogecoin’s recent price action has sparked intense debate among traders, with many drawing comparisons to its 2017 bull market cycle. Crypto analyst Master Kenobi highlights that Dogecoin experienced two nearly identical value surges in duration and magnitude during its previous bull market. If history is any indication, DOGE could be primed for a significant upward move, potentially reaching $1.1 by early June.
💡 WHEN DOGE?
— Master Kenobi (@btc_MasterPlan) March 17, 2025
The current pattern on the DOGE chart rhymes very well with the 2017 pattern. The bull market back then consisted of two roughly equal pumps, both in terms of value and duration. I’ve marked them on the chart on the left with two yellow, equal, and parallel lines… pic.twitter.com/Qra9wDan1o
Technical Indicators Support a Bullish Case
Traders have meticulously plotted Dogecoin’s current price cycle, marking critical points with parallel lines that align with previous trends. One crucial factor in this analysis is the 200-day simple moving average (SMA), which has historically served as a key support level. Back in 2017, Dogecoin hit a local bottom when it touched this indicator before launching into a parabolic rally. A similar setup appears to be forming now, reinforcing the theory that DOGE could be entering a new phase of its bull run.
Adding to the bullish sentiment, Dogecoin recently closed a weekly Doji candle, a pattern often associated with market indecision and potential reversals. Historically, when this pattern appears at a major support level, it precedes substantial price movements. This signals that bearish momentum might be waning, creating the possibility of a rapid upward breakout if buyers step in at the current levels.
#Dogecoin weekly candle closed with a DOJI 🔥
— Trader Tardigrade (@TATrader_Alan) March 17, 2025
This indicates a potential reversal from a downtrend to an UPTREND at this level.
Looking back at previous $Doge candles, there was a DOJI right at the start of the last SURGE 🚀 pic.twitter.com/QPf5MJI5Cz
Historical Cycles Suggest a Parabolic Move
Market analysts, including Dima Potts, have observed that Dogecoin follows a four-year cycle, where it tends to rebound sharply from established support levels marked by long-term trend lines. This pattern played out in 2021, when DOGE surged after reaching the lower end of its historical range. If this trend persists, the meme coin could be approaching the second phase of its bull run, setting the stage for a parabolic price explosion in the coming months.
While historical trends and technical patterns suggest a bullish future, market conditions remain uncertain. Traders should monitor key support levels and macroeconomic factors before making any investment decisions. However, if the past is any guide, Dogecoin could be on the verge of another spectacular rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Dogecoin (DOGE) Poised for Breakout? Key Technical Signals Indicate Bullish Surge
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
