Analyst Breaks Down What Could be a Hastened Path for Dogecoin (DOGE) to Hit a New ATH Ahead of Previous Patterns

Pioneer Memecoin Dogecoin Rallies, Exceeding Historic Patterns

Updated: November 28, 2024, 12:45 PM GST

Read Time: 1 min

As Bitcoin (BTC) surges, altcoins have been showing impressive bullish trends. Dogecoin (DOGE) has been gaining attention as its current market cycle appears to be unfolding approximately two months ahead of the timeline observed in the previous one.

Dogecoin (DOGE) Outpaces Previous ATH Pattern

An analyst has broken down the recent performance of the pioneer memecoin:

"In this cycle, events have aligned roughly two months ahead of the previous one. Back then, the uptrend started on November 3, 2020, while this time, it kicked off on September 2, 2024."

Predictions for DOGE's Future

Analysts predict that based on historical patterns, DOGE could reach a new all-time high (ATH) within the next two weeks, possibly around December 2. They have set potential targets of $1.08 (yellow trendline) and $2.90 (orange line). A more realistic midpoint target is estimated at $1.40 to $1.45, roughly double its previous ATH.

Caution Advised for DOGE Traders

While these projections provide insights, the analyst urges traders to proceed with caution. Macroeconomic factors and market sentiment can impact price movements.