A fresh Dogecoin price forecast suggests it is on a new bullish trajectory, predicting that this meme-inspired cryptocurrency could achieve new all-time highs. Specifically, crypto analyst @Kev_Capital_TA on X has provided a significant prediction indicating that the meme coin may finally breach the $1 mark. This outlook is based entirely on the historical performance of Dogecoin’s price, examining the average duration of days required for each parabolic jump to occur.
DOGE Is Poised for a Rally
The crypto analyst outlined that, thus far, the average duration for Dogecoin price cycles prior to a parabolic surge has been 1,095 days. Considering this trend has remained consistent, it is anticipated that this year will not deviate from the pattern, leading to an expected surge in Dogecoin’s value.
Currently, however, Dogecoin has surpassed the average duration of days, and the anticipated parabolic surge has yet to materialize. This delay indicates a postponement, but it does not imply that the surge won’t happen soon. In fact, it may suggest that the Dogecoin price is getting ready for a rally.
DOGE has now been 1,246 days since the last parabolic surge with no signs of bullish momentum visible. This means the surge is already over 150 days behind its expected schedule. On a more pessimistic note, this delay could indicate a potential break from the prevailing trend for Dogecoin.
The crypto analyst highlights that DOGE’s lag and continued downtrend could be indicative of this shift. “Indeed, #DOGE is 151 days behind schedule. There is clear evidence that the four-year cycle might be disrupted. Please don’t shoot the messenger; just be thankful I’m here to share this information.”
Nonetheless, the analyst’s chart illustrates the possibilities if Dogecoin were to execute a parabolic surge this time. From the current low of approximately $0.1, DOGE could potentially surge as high as $2.2, representing an increase of over 2,100% from its present position.
The average number of days it has taken for each #Dogecoin four-year cycle is 1,095 days before a parabolic surge has been observed. We are currently at 1,246 days and the price is still trending downward with no parabolic surge in sight. Yes #DOGE is 151 days behind schedule. The four… pic.twitter.com/HPOE4IruLr
— Kevin (@Kev_Capital_TA) October 5, 2024
Whales May Propel Dogecoin Price Upwards
Even though Dogecoin’s price has not adhered to the four-year parabolic trend, this has not diminished the bullish sentiment, particularly among whale investors. Another crypto analyst, Ali Martinez, pointed out that DOGE whales have been preparing for a potential upward movement.
This indicates that the DOGE whales are still anticipating a price increase for Dogecoin. The expectation for a bullish Q4 2024 for the broader crypto market further supports this outlook. Should Bitcoin’s price continue to ascend, Dogecoin’s price is likely to follow suit.
Featured image created with Dall.E, chart from Tradingview.com