If past cycles repeat, Trader Tardigrade predicts price surges to $8.7 and as high as $30 in a future bull run for Dogecoin. Alongside this, Dogecoin's technical analysis seems poised for a rally towards $0.40, indicating strong bullish momentum.

Trader Tardigrade presents Dogecoin's bull forecast, suggesting that the crypto may echo past market cycles for big gains. If historical patterns repeat, Dogecoin could see two significant price surges, according to his analysis.

Dogecoin is set to mirror past cycles

Projecting Bull Run 1, $Doge could soar to $8.7 by Aug 2025.
If Bull Run 2 kicks in, $Doge might skyrocket to $30 by Mar 2025.

At the first rally, known as Bull Run 1, he believes Doge could hit $8.7 by Aug. 2025. As for the future of this coin, he says that if a second, more intense bull run happens, then the rise would be much steeper; Dogecoin may go up to $30 by March 2025.

Dogecoin's past cycle-based behavior has been used in this projection as previous bullruns increased exponentially. Tardigrade is very bullish on Doge as an asset, even giving a pretty good scenario for future growth as long as market conditions match ones.

Dogecoin Technical Outlook: Key Levels Point to $0.40 Target

Dogecoin is breaking up from a key trendline on the 4-hour timeframe to the benefit of bulls. Doge is currently at $0.2424, and moving above the ascending support line means there could be upward momentum.

The current extension holds further weight to the idea that Dogecoin is racing towards the next major resistance level of $0.40, which represents a 60% increase from the current price.

DOGE/USD 4-hour chart | Source: Trading View

Further supporting a bullish setup, the Average True Range is now 0.00968, which is an increase, meaning increased volatility and trading interest. Also, the Awesome Oscillator has turned green bars into positive territory, and with that, buying momentum is building, signaling the beginning of an uptrend.

If this momentum holds through, Dogecoin can still rally toward the $0.40 target, matching previous resistance levels. If the bullishness around Dogecoin continues, this level may act as a strategic price point with which traders may see a potential entry opportunity as Dogecoin projects further strength after its recent breakout.

On-Chain Data Shows 90%+ of Dogecoin Holders Currently in Profit

A majority of Dogecoin holders are in the green, according to on-chain data, which shows a majority has profited. At today's price of $0.2415, an impressive 91.17% of 5.82 million addresses are In the Money meaning that they hold Doge at a lower average price today than they do in current terms.

In/Out of the Money for DOGE holders | Source: IntoTheBlock

Quite amazingly, the addresses that are Out of the Money are 0 addresses, indicating no tracked holders are at a loss. On top of this, 8.83%, or 563.78k, of all the addresses are more specifically at the Money, which is to say they have Doge equal to where it is right now. This indicates that they are at break-even in Doge and all those involved have a very positive outlook on Doge.