Dogecoin price reproduces a bullish fractal of 2021, signaling the price breakout potential to new heights. A crypto analyst shared a price chart comparing this historically recurring fractal to Dogecoin’s current trajectory, predict a massive surge to new all-time highs in January.
Historic Fractal to Trigger Dogecoin Price Rise Above $4
In an X (formerly Twitter) job On Wednesday, Trader Tardigrade, a prominent crypto trader and analyst, predicted that Dogecoin, the number one meme coin, could record a explosive price rise beyond $4 by January 2025. The analyst announced that Dogecoin is repeating a crucial fractal seen during its huge price rally during the 2021 bull run.
He presented two parallel charts comparing Dogecoin’s movements between 2020 and 2021 and those of 2024. The right side of the chart shows Dogecoin Price Action in 2020, which led to a sharp increase in January 2021.
Prior to this significant price rise, Dogecoin suffered a series of consolidation models. The blue triangle in the chart indicates a local peak, the green curve highlights a price recovery after a decline, and the orange arc represents a period of gradual consolidation.
These distinctive price movements resulted in a strong breakout for Dogecoin, allowing it to surpass $0.065 in January 2021.
Based on Trader Tardigrade’s analysis, Dogecoin is repeating this bullish pattern, with the same consolidation patterns appearing on its price chart. The blue triangle on the left side of the chart shows that Dogecoin has already formed a first peak. Additionally, the green curve highlights a price recovery and the orange arc signals a rounded consolidation pattern.
If these bullish fractals hold, Dogecoin could mirror its previous price action and see a strong rally similar to that pump 2021. Therefore, the analyst called January the “big bang month”, highlighting its importance during this period. bull market. Trader Tardigrade predicts that if Dogecoin repeats the historic fractal, it could trigger a surge strong enough to propel the meme coin’s price above $4.
Analyst predicts 570% surge for Dogecoin
Crypto analyst Javon Marks also predicted a massive bullish rally for Dogecoin, highlighting the importance of historically repetitive patterns to determine the future trajectory of the coin itself. The analyst shared a chart depicting Dogecoin Price Behavior through three distinct cycles: cycle 1, cycle 2 and cycle 3.
Each cycle follows a similar pattern of consolidation within a descending triangle, followed by a breakout that leads to a substantial price increase. Dogecoin surpassed 1,618 Fibonacci Extension Level during each cycle after successfully replicating historical consolidation patterns.
Based on this analysis, the current price action of Dogecoin during cycle 3 aligns with the recurring pattern. If this trend persists, Marks predicts that Dogecoin could see a massive increase of over 570%, potentially reaching $2.28 or more.
Featured image created with Dall.E, chart from Tradingview.com