Cyclical Dogecoin price patterns continue to indicate bullish price targets despite the extensive consolidation and correction in the last two weeks. Interestingly, technical analysis suggests that these bullish price targets are likely to play out over several weeks and months, making them more long-term predictions against the current short term downward price action.
According to technical analysis by crypto analyst Dima James Potts, Dogecoin could see a 3,700% surge and reach $11.65 by the end of 2025. This projection comes from an analysis of historical performance trend of Dogecoin over four-year cycles within its monthly charts. .
Historical Cycle Suggests Parabolic Rise in Dogecoin Price
Turn to social media platform share technical perspectivescrypto analyst Dima James Potts worked on the Dogecoin price chart on a monthly time frame. According to the analyst, Dogecoin is currently in a third cycle which is expected to take place over four years. Notably, these cycles have always resulted in a crazy Dogecoin price surge in year four.
Highlighting the play’s performance during the fourth year of each major cycle, Potts noted two instances of remarkable growth. During the first cycle, Dogecoin Year 4 opened at $0.00023 and closed at $0.00851, a 37x increase. During the second cycle, the fourth year opened at $0.00460 and closed at $0.17064, once again delivering a 37x gain. These fourth-year rallies are highlighted by purple candlesticks, as shown in the chart below.
As it stands, Dogecoin is about to transition in the fourth year of this model. Using this model as a basis, Potts predicts that the fourth year of Dogecoin’s current cycle, which is expected to begin in 2025, could follow a similar trajectory.
2025 as a pivotal year for Dogecoin
As 2024 draws to a close, crypto market participants are now looking ahead to what 2025 has to offer, with the general forecast being an upward trajectory for most of the year. According to Dima James Potts, Dogecoin is on the right track to replenish another 37x surge in 2025 as a repeat of the fourth year portion of its cyclical pattern. So, Potts noted that if the 2024 closing price was around $0.315, a 37x increase could result in a year-end price of around $11.65 in 2025.
Potts points out that the $11.65 forecast is a conservative year-end estimate rather than a record price, suggesting that Dogecoin could potentially surpass this target at some point during 2025.
At the time of writing, Dogecoin is trading at $0.312 and the $11.65 target is over 3,500% away. Interestingly, another technical analysis from crypto analyst Javon Marks also supports this outlook regarding The cyclical pattern of Dogecoin. According to him, Dogecoin is currently in its third cycle and is preparing to reach new all-time highs by 2025.
Featured image created with Dall.E, chart from Tradingview.com