Dogecoin Price Hits ‘Final Bottom’: Technical Analysis Suggests DOGE Could Surpass $10 This Cycle

Dima James Potts has identified a critical juncture for Dogecoin (DOGE), suggesting a potential significant price surge in the ongoing cycle. The weekly chart reveals a consistent upward trend since the green and red lines intersected in early September, indicating a pivotal shift from bearish to bullish sentiment.

Key Observations for DOGE Memecoin Price

The analysis classifies Dogecoin's price movements into four distinct cycle phases, each represented by colored numbers:

• Red (1): Bear Market/Downtrend
• Orange (2): Accumulation/Sideways Movement
• Yellow (3): Small Upward Movement
• Green (4): Bull Market/Top

This framework demonstrates that Dogecoin has historically followed similar cycles: a downward phase, followed by accumulation, a slight upward movement, and ultimately, a bull run.

The recent price action indicates that Dogecoin is transitioning from the accumulation phase (orange) towards a potential upward trend (yellow). The formation of a wedge pattern suggests an impending breakout. The crossing of the green and red lines signals what could be the final bottom, implying that the recent dip may represent the lowest point before a significant upward trend.

Future Projections for DOGE Price

Dima James Potts projects that Dogecoin could surpass $10, citing increased adoption and historical cycle patterns observed in the chart. While the outlook remains bullish, the analysis cautions investors about possible market corrections, ranging from 30% to 85% during the ascent to the next peak.

Such pullbacks have occurred in previous cycles, and investors should anticipate these fluctuations. The analyst foresees a significant peak around 2025, when substantial price gains could be realized. Although the chart suggests a high target—represented by the "36" mark ($36)—specific price predictions beyond this remain speculative.

Role of Adoption

The crypto analyst emphasizes the significance of broader adoption as a key driver for Dogecoin's potential success in this cycle. Increased acceptance and usage are expected to propel the price to new heights.

With historical patterns suggesting a substantial bullish phase, the analysis encourages those predicting conservative targets, such as $1, to reconsider their forecasts based on the established trends.