Dogecoin Value Is Replicating Bullish Sample From 2021, However Can It Rally To $16?

Crypto analyst Dealer Tardigrade has drawn the crypto group’s consideration to a bullish sample from 2021, which the Dogecoin value is replicating. This has raised the opportunity of the foremost meme coin rallying to $16 on this market cycle. 

Dogecoin Value Replicates 2021 Bullish Sample

In an X publish, Dealer Tardigrade revealed that the Dogecoin value has repeated an analogous sample from the 2021 bull run. His accompanying chart confirmed that the sample led to an enormous god candle for Dogecoin within the earlier cycle. In step with this, the crypto analyst raised the opportunity of DOGE witnessing one other god candle that may ship its value to $16.  

Dealer Tardigrade remarked that DOGE could be massive, suggesting that the Dogecoin value might attain this value degree. On a number of events, the crypto analyst has predicted that Dogecoin might attain this value goal in this bull run. Not too long ago, he said that between $10 and $30 could be the highest for the foremost meme coin on this market cycle.  

In the meantime, he additionally said that the Dogecoin value might attain $30 by March 2025 if it mirrors the 2021 bull run. In the meantime, Dogecoin seems to share similarities to the 2021 bull run in comparison with some other cycle, which means that it might replicate the parabolic rally recorded throughout that interval. 

Even earlier than the DOGE bull run started, Dealer Tardigrade revealed that the Dogecoin value was flashing the identical sample that led to the 28,000% surge in 2021. This projected rally to $16 on this market cycle stays potential. Apart from Dealer Tardigrade, crypto analysts like Ali Martinez have additionally indicated that Dogecoin can attain this $16 goal. 

Martinez said that the Dogecoin value might rise as excessive as $23 on this market cycle. He defined that this might occur if the foremost meme coin reached the two.272 Fibonacci degree. 

DOGE To $1 Is Imminent

Within the meantime, a psychological quick to mid-term goal for the Dogecoin value stays at $1, and crypto analyst Grasp Kenobi has predicted that DOGE will quickly attain this goal with Bitcoin above $100,000. Based mostly on his current evaluation, Dogecoin’s subsequent leg to the upside might start anytime now, because it has recorded a consolidation much like the earlier cycle. 

Crypto analyst Kevin Capital additionally alluded to this consolidation interval within the earlier cycle whereas suggesting that the following leg up is loading. He famous that within the final cycle when the Dogecoin value had its first main leg up, it consolidated for twenty-four days after that transfer earlier than recording one other leg as much as the macro golden pocket. 

If Dogecoin have been to comply with an analogous path, he predicts that the following leg will begin by the tip of this week, and the meme coin will start its rally to the macro golden pocket which is at $3.80 to $4. 

On the time of writing, the Dogecoin value is buying and selling at round $0.43, up over 4% within the final 24 hours, in response to knowledge from CoinMarketCap. 

Featured picture created with Dall.E, chart from Tradingview.com