The Dogecoin Prize could prepare for a new upward wave while a cryptographic analyst projects a Shows new heights of all time. The analyst cites past performances as a reason for this bullish projection, highlighting the action of the Dogecoin prices of previous bull cycles.
Dogecoin Performance Price price to push it above $ 0.73
Crypto analyst Javon Marks went to X (formerly Twitter) on February 22 in share A bullish prediction of the price of Dogecoin. The analyst has highlighted Past performance of the bull market To support his forecasts, predicting that Doge could soon rally over his highest time of $ 0.73905.
In his painting, Marks revealed Dogecoin price action During the Bull Run 2016/2017 and the Haussier market 2020/2021. In both cycles, Doge apparently experienced a quick price accident, following a drop -down price. However, after a long period of consolidation, he recorded a massive price rally which sparked an ATH escape at $ 0.00232 in 2018.
During the 2021 Hard market, the play even knew its famous escape which transformed many long -term investors into millionaires. The price also recorded a major rally after undergoing an apparently stagnant price action. At the time, the historic rally catapulted Dogecoin to its current ATH of $ 0.73905.
On the basis of these past bullish trends, Marks estimates that Dogecoin can reflect a similar price action. The higher -time piece has recently experienced a drop to new stockings and has been in consolidation for weeks. At the end of this Downward trend and consolidation periodMarks suggests that Dogecoin could initiate his next upward wave, potentially bankrupt above his current ATH.
The analyst plans that a bullish move of almost 200% towards a new ATH can be on the horizon for Dogecoin if its price action precisely reflected past optimistic trends. The price of the Doges was confronted severe volatility Recently, after his previous escape from upward prices. A move to a new ATH would be a historic moment for the memes piece on the cryptography market, more solidifying its position as a number one coin.
Update on the action of the DOGE price
Despite the rising feelings in progress, the Dogecoin Prize is still confronted Severe descent pressure. It has been in the red zone for weeks. Despite a major price rally earlier this year, the memes piece is down by almost 33.1% last month, according to CoinmarketCap.
This massive price accident was the result of various lower factors, especially Bitcoin decline below the $ 100,000 mark and continuous weakness, the recent Prices implemented On China, Canada and Mexico by the United States (United States), and the larger drop in the market, which has seen most of the altcoins and coins fall.
All these lower factors apparently pushed the price of DOGE to $ 0.23, eradicating a large part of its earnings reached this year. Nevertheless, while Dogecoin remains down, the whales continue to take advantage of the dip in accumulate more parts In the hope of a price rally.
Felash star image, tradingView.com graphic