As the price of Bitcoin strengthened, the markets also became bullish. Most cryptocurrencies initiated a strong recovery after the latest pullback, which kept the momentum for most altcoins. While some altcoins saw a significant rise, Dogecoin saw a slight uptick, but before entering the bullish zone, it faced significant bearish action. Regardless of bearish interference, the DOGE Price remains poised for a huge surge as a new ATH at $5 is pre-programmed.
Dogecoin gained mainstream attention during the bull run of 2021. Moreover, the bull run started with the price rise of DOGE which moved from consolidation around $0.0045 to $0.7376. A similar rise has been recorded since the start of the last quarter of this year, which should trigger an uptrend similar to that of 2021. Here’s why.
The DOGE price recently moved from a long consolidation into the accumulation phase that lasted from early November to mid-December, followed by a manipulation phase. Historically, a strong distribution is expected to follow, which should push DOGE price towards a new ATH.
A popular analyst, Tardigrade Merchantdiscovered the similarities between the 2021 bull run and current price action. The analyst pointed out that the crypto was repeating the same consolidation phase that it underwent in 2021. DOGE price rose sharply in January 2021, followed by minor consolidation which further resulted in a massive breakout in the ATH. Currently, the price is experiencing the same consolidation trends, which suggests that the next price action in January could be the month of the Big Bang.
Many analysts and veterans are looking forward to a big rise in 2025, which could spark a new season. If the Dogecoin (DOGE) price rally repeats the previous pattern, market participants can expect a new ATH well above the $1 mark, somewhere near $4.5 to $5. Once these levels are reached, it would be very difficult for the bears to bring the levels back below $1, even during a strong bear market.