Analyst Predicts Dogecoin Surge to $10 Based on Historical Trends

Technical Analysis Hints at a Significant Dogecoin Rally

Crypto analyst Dima Potts suggests Dogecoin (DOGE) is poised for a substantial price surge. A recent X (formerly Twitter) post highlighted a recurring market pattern historically preceding significant rallies for the meme coin.

Analyzing weekly price charts, Potts identified a long-term ascending channel dating back to 2014. This cycle features accumulation phases followed by parabolic price increases, with each bull run occurring approximately every four years.

DOGE's Price Cycles: A Bullish Indicator

Dogecoin has historically rebounded from the lower trendline of its ascending channel before experiencing significant price appreciation:

• 2017: DOGE touched the lower trendline and subsequently rallied to $0.01 in 2018.
• 2021: This pattern repeated, propelling DOGE to its all-time high (ATH) of $0.73.
• 2024: Dogecoin has again reached the lower trendline, suggesting a potential bullish reversal.

Potts predicts that, if history repeats, DOGE could surpass $10 during this bull cycle, following its established long-term trajectory.

Could Dogecoin Reach $10?

A tenfold increase from its current price of $0.17 (according to CoinMarketCap) may seem ambitious, yet historical trends lend credence to this possibility. Despite a recent 40% price drop, analysts remain optimistic, citing the tendency of meme coins to recover rapidly during bull markets. However, overcoming key resistance levels will be vital for Dogecoin to enter its next parabolic growth phase.

With broader market conditions showing signs of stabilization, attention is focused on Dogecoin's price action. If the four-year cycle holds true, a significant rally could be imminent.