Amid bullish Dogecoin price predictions, a notable market analyst has projected when the meme coin will likely reach its cycle top.
The recent disclosure comes amid a turbulent phase in the broader cryptocurrency market, with Dogecoin (DOGE) suffering massive losses. Down 32% since Jan. 20, DOGE has witnessed two consecutive weekly losing candles, with the bears on the verge of triggering a third one this week.
Despite the bearish price action, analysts like Dima Potts believe a bullish phase will emerge. In his latest report, Potts tried to identify the exact time Dogecoin price would reach its top for this cycle, forecasting an ambitious price target for when this bullish phase emerges.
Dogecoin Following a 4-Year Cycle
To drive home his point, the analyst pointed out a recurrent pattern in Dogecoin’s price history. According to his analysis, Dogecoin has followed a predictable cycle over the years, with peaks occurring roughly every four years.
The first major peak happened 1,442 days after the previous high, marking an extraordinary 21,821% price increase from the cycle low to the peak. For context, this peak price was the $0.0187 top Dogecoin claimed in January 2018.
Data from his chart shows that the second cycle mirrored this pattern, also topping out exactly 1,442 days after the previous peak. This time, Dogecoin recorded an even larger surge, jumping by 54,890% from its cycle low to the peak of $0.74 in May 2021.
Currently, Dogecoin is in its third major cycle. Potts predicts that if history repeats, the next peak will happen around the week of April 14, 2025. He believes that this cycle could be just as strong, if not stronger, than the previous ones.
His report predicts a price of $10+, but data from the chart shows he expects DOGE to hit an ambitious $440 price, which would mark a 175,900% increase from the current price of $0.25. Expectedly, several proponents have dismissed the $440 price target as wishful thinking.
Nonetheless, according to the analyst, factors such as growing adoption and increasing institutional interest could drive Dogecoin’s price higher. Recall that leading institutions such as Grayscale have filed to introduce a Dogecoin ETF, which could attract more capital inflow.
Analysts Remain Bullish on Dogecoin
Meanwhile, several other analysts remain bullish on Dogecoin. Market watcher Ali Martinez recently noted the importance of Dogecoin holding above $0.19. Currently, DOGE changes hands at $0.2527, down 2.91% in the past 24 hours.
As long as #Dogecoin $DOGE holds above $0.19, the setup for a parabolic rally toward $10 remains strong! Momentum is building. Let’s see if #DOGE takes off! pic.twitter.com/aEwutCnaDV
— Ali (@ali_charts) February 6, 2025
Martinez believes that as long as the $0.19 support level remains intact, a parabolic rally toward $10 is still in play, aligning with Potts’ smaller target. Martinez has noted that momentum is steadily building, and this increases the chances of a major breakout.
In contrast, another analyst, AMCrypto, expects Dogecoin to experience a short-term decline before resuming its upward trend. He noted that Dogecoin had previously broken out of a cup and handle pattern, which resulted in a 300% rally.
Is there another leg down for $DOGE?
DOGE recently dumped to the $0.21 level before bouncing back.
It had a bullish breakout from the cup and handle pattern, which resulted in a 300% pump.
Since then, it has yet to retest the breakout level, which is around $0.17-$0.18.
— AMCrypto (@AMCryptoAlex) February 6, 2025
Despite the surge, AMCrypto believes Dogecoin has not yet retested its breakout level even with the latest drop to $0.21 earlier this week. He suggests that the price could dip further to the $0.17-$0.18 range before resuming its climb toward a new all-time high.
