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Crypto analyst Dima James has once again raised the possibility that the Dogecoin price will rise above $10 in this market cycle. The crypto analyst referenced historical data to show how high DOGE could go in this bull cycle.
How high the price of Dogecoin could be in this market cycle
In one X messageDima James shared a chart showing that the Dogecoin price could reach as high as $80 in this market cycle. The analyst also predicted that the cycling top for Dogecoin could happen sometime between February 11 and May 7, 2025. The analyst pointed to historical data to explain why he is confident Dogecoin could achieve this goal.
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Analyzing the daily chart, the crypto analyst explained that year 4 is typically the last year of each cycle, and that is when the Dogecoin price has peaked each time. He highlighted an indicator on the chart that accurately predicted everything Bitcoin summit. The analyst noted that Dogecoin tends to peak three to four weeks after Bitcoin tops out.
In line with this, the analyst predicts that the cycle top for Dogecoin will occur sometime between February 11 and May 7. Meanwhile, further discussing the four-year cycle, Dima James noted that the Dogecoin price had an impressive performance in the third year of this cycle (2024) compared to the third year of the cycle. previous cycles (2016 and 2020).
He further confirmed his prediction that the Dogecoin price will end this year at $0.31, which will be the meme coin’s best performance in its third year yet. Year 4 has historically been the biggest year for Dogecoin, and Dima James expects a similar or even greater outcome in 2025, with Dogecoin outperforming the previous year 4 cycle’s performance. The analyst believes this will happen as due to increased acceptance and technological advancements.
DOGE has found a local bottom
In an X-post, crypto analyst Trader Tardigrade mentioned that the Dogecoin price may have found a local bottom. The analyst explained that there is a Doji Dragonfly reaching the Fibonacci level of 0.618 on the daily chart. He further noted that DOGE showing price rejection at this level indicates a potential bottom.
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The crypto analyst recently mentioned that the Dogecoin price remained stuck within a range. He predicted that a break above this range could send Dogecoin to the psychological level of $1. In another X post, Trader Tardigrade stated that Dogecoin had entered the Gaussian channel on the daily chart.
The crypto analyst added that the Dogecoin price has halted its downtrend in the mid-band of the channel, highlighting the supportive nature of the Gaussian Channel. In line with this, Trader Tardigrade suggested that Dogecoin is poised for a bullish reversal.
At the time of writing, the Dogecoin price is trading around $0.33, up more than 12% in the past 24 hours, according to facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Credit : www.newsbtc.com
