Expert Says Dogecoin Targets 19,533% to $45 if History Repeats

A prominent market analyst has predicted a stupendous price pump for Dogecoin this bull cycle.

Market expert Dima Potts made the lofty call in an X post on Feb. 23, citing cyclical repetition. He suggested that Dogecoin, the largest meme coin by market cap, would defy its current bearish momentum for a staggering 19,533% uptrend.

For this to happen, Dogecoin would first have to regain bullish momentum. The leading meme coin has struggled recently amid a broader market correction, retracing over 52% from its December high of $0.4846.

Amid this poor run of form, the token has posted severe retracements in five of the last six weeks. However, Potts remains optimistic that DOGE will rebound from current struggles and surge to at least $10 this cycle.

Dogecoin Eyes Rebound from “Never Miss Zone”

Potts identified that Dogecoin’s recent price action has seen it trend toward the “never miss zone,” from which the token has historically rebounded. Notably, the asset surged from this area after a consolidation phase in the 2017 and 2021 cycles.

Furthermore, the wave-like indicator aligns with Dogecoin’s cyclical 1,442-day pattern. The pointer shows that the prominent meme coin has completed each cycle in 206 weeks, with the last concluding on May 7, 2021.

Meanwhile, with the cycle already 1,388 days in, Potts suggested that Dogecoin would soon enter the second phase of its cyclical parabolic expansion. He also identified the expected peak point for the imminent bullish phase, with an accompanying chart suggesting an almost 1,636% surge close to $4.

$45: Dogecoin’s Ultimate Target

After the phase two pump, the analyst speculates that there would be a brief retracement before the final push to the cycle’s ultimate target. Citing the historical pattern of the wave-like indicator, Potts believes Dogecoin would follow the line to a peak price of $45.

Meanwhile, the prominent market watcher highlighted that DOGE has consistently crossed the red vertical line, as shown in the chart in the last two cycles. As a result, he expects a repeat this cycle, aligning with the $45 price prediction.

Furthermore, Potts stated that the period in which Dogecoin reaches the level above the red line will determine the timing of this cycle’s peak. Nonetheless, he believes the leading meme coin to closely follow its historical pattern or outperform it, citing technological advancement, growing adoption, and emerging institutional traction.

While technical analysis suggests a likely rebound to higher prices, on-chain metrics indicate otherwise. Whale activities on the Dogecoin ecosystem have reached new lows, with just 66 large transactions and 60,000 active addresses per day.

Dogecoin users would have to correct this trend to increase the chances of a near-term price upsurge. In the meantime, DOGE trades at $0.2325, down over 4% in the past 24 hours.