Dogecoin (DOGE) has a long history of explosive price surges followed by retracements, and market analysts are predicting that the cryptocurrency may be on the verge of another parabolic rally. With a stunning 440% increase in 2024 and a 46% retracement, DOGE’s pattern of dramatic price fluctuations has investors on edge, wondering if another massive surge is on the horizon.
Looking back at Dogecoin’s past, the cryptocurrency has demonstrated strikingly similar price cycles. In 2017, DOGE surged by 212%, retraced 40%, and then skyrocketed by 5,000%. In 2021, it saw a 476% increase, followed by a 56% retracement, before eventually rallying to an eye-popping 12,000%. These patterns suggest that Dogecoin’s 2024 price action could be the precursor to yet another monumental price jump.
In 2017, when #Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%.
— Ali (@ali_charts) December 23, 2024
Now, in 2024, $DOGE is up 440% and has retraced by 46%. If history repeats, another parabolic rally is on the way! pic.twitter.com/uhf2kMc0Id
The Ascending Channel and the 2025 Catalyst
Analyst Trader Tardigrade has pointed out that DOGE has formed an Ascending Channel, a bullish technical pattern that often signals an impending breakout. As DOGE approaches the upper leg of the channel, the likelihood of a surge grows stronger. This is where things get even more interesting: Elon Musk is poised to take the reins of Dogecoin in January 2025. Musk’s previous involvement with DOGE has already proven to be a major catalyst for price increases, and his official leadership is expected to fuel a new wave of interest and investment.
#Dogecoin formed an Ascending Channel from the Bottom, reaching near the upper line of the channel 🔥
— Trader Tardigrade (@TATrader_Alan) December 22, 2024
❇️ A BREAKOUT could happen at any moment from here.
A large candle was observed in January 2021.
Since Elon is set to officially assume his duties as the #DOGE head in January… pic.twitter.com/GH9v8O25Uz
For many, Musk’s role as the head of Dogecoin is seen as the key ingredient for a new all-time high. His influence, coupled with Dogecoin’s established momentum, sets the stage for another potential parabolic rally.
Predictions for 2025: Dogecoin’s Next Major Surge
Experts are increasingly optimistic about Dogecoin’s future. Analyst Javon Marks believes that this cycle mirrors DOGE’s previous explosive rallies and forecasts an upside of 75% or more. With Dogecoin still trading significantly below its all-time high of $0.739, some analysts speculate that DOGE could hit anywhere from $3 to as high as $7.20–$15 in 2025.
Meanwhile, Dima James Potts takes a more technical approach, suggesting that 2025 will mark the peak of Dogecoin’s current cycle, potentially mirroring Bitcoin’s price rally. From February to May 2025, Potts expects DOGE to reach new heights, driven by broader market trends and technological advancements.
$DOGE $10+ DOGECOIN?! 🚀🚀
— Ðima James Potts (@DimaPotts36) December 21, 2024
In this daily chart of Dogecoin, I'm going to explain when we can expect the final peak of this cycle using historical data. As mentioned in my previous posts, year 4 is typically the final year of each cycle, and that is when Dogecoin has peaked every… pic.twitter.com/8czV4Xu61q
As 2024 wraps up, all signs point to 2025 being the year Dogecoin surpasses its previous highs. With increased adoption, potential technological breakthroughs, and Musk’s leadership, the future looks brighter than ever for this meme coin.
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 Targets $10: Analyst Predicts Massive Rally Amid Bull Market Surge
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