Dogecoin (DOGE) price has gained attention following recent price analyses indicating a potential surge. Analysts suggest that if DOGE maintains a critical support level, it could see a significant rally. The cryptocurrency has shown resilience, remaining within an ascending channel, which could indicate further upward movement.
Could Dogecoin Price Hit $20 in the Next Bull Run?
Analyst Javon Marks has shared insights on Dogecoin price, suggesting that its historical market cycles indicate the potential for a substantial rally. Marks referenced previous cycles where DOGE experienced exponential growth, with a 90X increase in 2017 and a surge exceeding 306X in 2021. He noted that each bullish phase outperformed the previous one, supporting the possibility of an even larger price jump in the next cycle.
His analysis projects that if DOGE follows the same pattern, it could experience another massive rally, surpassing its previous all-time high. Marks highlighted that DOGE demonstrated a repeating trend of accumulation and breakout phases. He suggested that if this trend holds, DOGE could achieve a crypto rally exceeding 306X, pushing its price beyond $20.
More so, Marks’ analysis points to the possibility of continued expansion, with the cryptocurrency following its previous performance trajectory.
Similarly, a recent CoinGape report highlighted the crypto rally, emphasizing Dogecoin price movements aligning with past market cycles. If the top meme coin price structure follows the 2017 trend, the DOGE price could be on track for a new all-time high. However, breaking through the key resistance level at $0.30 remains crucial for sustained upward momentum.
DOGE Must Hold Above $0.19 to Sustain Momentum
Analyst Ali Martinez provided a separate technical perspective on Dogecoin price, emphasizing the importance of maintaining a key support level. According to his analysis, DOGE must remain above $0.19 to retain its bullish setup. If this level holds, the meme coin could see a crypto rally targeting a potential rise toward $10.
Martinez’s chart illustrates an ascending price channel, showing that DOGE has historically followed a structured upward trend. He identified multiple resistance and support zones, suggesting that the asset could continue its upward momentum. His analysis indicates that breaking below $0.19 could weaken the bullish outlook, while sustained price action above this level may drive further gains.
Top Meme Coin Price Action
Both analysts present scenarios where Dogecoin price could see notable gains. Marks’ projection points to the possibility of the meme coin surpassing $20 if it follows its historical market cycles. Meanwhile, Martinez’s technical analysis suggests that maintaining a key support level could lead to a parabolic rise toward $10.
However, despite the bullish projections, Dogecoin (DOGE) price has experienced a 14% decline in the past 24 hours, trading at $0.002134. Market data shows that the meme coin trading volume surged by 64.53% to $6.37 million, indicating heightened activity.
On the positive, DOGE whales have been buying aggressively, accumulating 750 million tokens amid the recent price drop to $0.2. This large-scale accumulation suggests strong investor confidence and a potential rebound in Dogecoin price.
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