Dogecoin $10 Price Target Back In Play? Here’s What The Charts Say
Dogecoin is in Crazy 40% drop Starting this week. Despite a little recovery since then, at the time of writing, Dogecoin is still at a 20% loss over the 7-day timeframe.
However, technical analysis shows that Dogecoin’s bull run may still be in play, and the meme coins can still reach the $10 target target for this cycle. The analysis is based on the time it took Dogecoin to reach new historical peaks and market peaks in previous cycles.
Dogecoin’s historical cycle and price peak
Dogecoin’s price changes have historically Follow a well-defined cycle, Several analysts have observed Consistent mode Cross cycle. It is worth noting that Dogecoin is now in its third market cycle, and the price dynamics in the current cycle have shown signs of repetition that are different from the previous two cycles.
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according to Crypto analyst DogeCapital (@dimapotts36), Dogecoin’s price history has an amazing cycle pattern, repeated approximately every 1,442 days. This 1,442-day pattern is the average time of Dogecoin prices reaching the final peak of each cycle, and is calculated from the bear market.
The first cycle spanned between 2013 and 2018 reduced Doge Rally’s peak from its cycle to peak by 21,821%. At that time, Dogecoin was trading at less than $0.00009, but eventually soared to more than $0.01 for the first time. At the time, Dogecoin was still considered a mere joke coin, with only early investors pushing for speculative trading in its price action.
The bear market is low at $0.00125, but as the cryptocurrency market enters the euphoric bull stage in 2021, Dogecoin has become one of the biggest winners of Meme Coin Craze as it grows 54,890% over its cycle-lower cycle. Meme Coin Mania Get Dogecoin Retailer’s Outstanding During this period, it eventually pushed its price to the current $0.7316.
With the third cycle moving, crypto analyst Dogeceptal Point it possible It takes the same 1,422 days to reach the new peak.
Timeline for the new Dogecoin price peak
Dogecoin’s current market cycle began immediately after its all-time high in 2021, and Meme Coin has entered a long bear market since. The price of the cycle is lower than sometime in 2022, when Dogecoin corrected to $0.055.
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Repeat 1442-day cycle means Dogecoin will reach its market peak on April 14, 2025 2022 bear market is low. Although this percentage increase is particularly smaller than the 54,890% rally seen during the Dogecoin 2021 cycle, the capital needed to create such an increase is significantly higher to the market value of cryptocurrencies.
At the time of writing, Dogecoin is trading at $0.2669, up 1.1% over the past 24 hours.
Featured images from Adobe Stock, charts from TradingView.com
