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The long-awaited Doge bull market may be imminent, as a cryptocurrency expert has declared that Doge is preparing for the next rebound and may hit a new all-time high. This prediction was made after Doge's recent weeks of gains, indicating that its bullish momentum is recovering.
Doge may see massive gains in the coming weeks
As the optimistic sentiment towards Doge continues to rise, experienced cryptocurrency expert and trader Tardigrade has claimed that this meme coin is preparing for the next big rally. Trader Tardigrade shared his prediction on the X (formerly Twitter) platform, causing a stir in the Doge community.
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Market experts say that Doge is ready for the next bull run, citing key price patterns on the charts, particularly the hidden bullish divergence pattern, which suggests that the meme coin is gathering strength to break out. The hidden bullish divergence pattern typically occurs in a downtrend, indicating that the downward momentum may reverse or slow down.
Trader Tardigrade cited key patterns in the 4-hour time frame of Doge's Relative Strength Index (RSI). According to the analyst, this key indicator provides early signs of Doge's continued uptrend, allowing the digital asset to reach higher highs.
As Doge prepares for the next significant rally, Trader Tardigrade expects two major upswings in the short term, indicating his confidence in the asset's short-term prospects. His prediction is based on historical price trends, as Doge has seen multiple rallies to market tops in the past two bull market cycles.
For the first surge, the expert has set the next target at the $2 price level. Meanwhile, if history repeats itself, the second surge will trigger a threshold of $20. Therefore, the analyst believes that the Doge bull market is just beginning and points out that it is still too early to capitalize on the uptrend.
Will Doge's market top arrive sooner than expected?
Cryptocurrency analyst Dima James Potts suggests that the market top for Doge may be closer than generally anticipated. He made this assertion after discovering that the price trend is similar to previous cycle tops.
In the first and second cycles, Doge skyrocketed 21,821% and 54,890% from the bear market lows to the peaks, respectively. Although the third cycle has not yet peaked, if past events repeat, James Potts expects Doge to peak around January 19, 2025, as this meme coin typically reaches its peak in around 1,446 days.
The market top of Doge's current cycle may arrive soon, but experts believe that the rebound in this cycle could be larger than previous ones, as the percentage gains in each cycle have been increasing, with a target price of $36.
As the overall cryptocurrency market shows signs of recovery, Doge may leverage this new momentum to achieve further gains in the coming days.
