Crypto analyst Master Kenobi provided an update on Dogecoin price action versus the 2021 bull run. The analyst pointed out that the DOGE/BTC chart was consistent with this previous cycle and predicted when Dogecoin could actually get the long-awaited pump.
Dogecoin Price Approaches Long-Expected Pump
In an X postMaster Kenobi predicted that the long-awaited Dogecoin price pump could start in the third week of this month, around 30 December. This happened when he compared the current price action with the previous cycle. Although Dogecoin pump started before the previous cycle, Master Kenobi highlighted the similarities between the two cycles in relation to the reduction of Bitcoin.
A crypto analyst noted that on the DOGE/BTC chart, the red week falls exactly 238 days after the last split, which is perfectly consistent 2021 bull run. If history were to repeat itself, Master Kenobi thinks that the price of Dogecoin will close this week in the red, followed by two weeks in the green before the long-awaited pump starts in the third week, around December 30.
His accompanying chart showed that the price of Dogecoin could converge as It is estimated at 1.7 US dollars when this long awaited event takes place at the appointed time. This would mark a new all-time high (ATH) for the premium meme coin, while DOGE’s ATH is currently $0.73.
Meanwhile, in his previous post, Master Kenobi suggested that this red phase of Dogecoin price consolidation is much needed, although he wished it happened sooner. He also predicted that the new Dogecoin ATH could happen in the first half of January if not before the end of the year.
He believes that this Dogecoin price rally to a new ATH may coincide with Donald Trump’s return to the White House based on the ‘Trump Effect’ and Photo by Elon Musk Department of Government Efficiency (DOGE). DOGE provides a better view of Dogecoin, as DOGE promoted the Ministry name.
Hidden Bullish Variation Formed on the DOGE Chart
In X post, crypto analyst Kevin Capital drew public attention to the hidden bullish divergence forming on the daily Dogecoin price chart. The analyst noted that the price of Bitcoin still needs to show bullish momentum, so nothing is guaranteed. However, he added that Dogecoin’s price action is “textbook” at the moment.
In X post, crypto analyst Trader Tardigrade and gives a bullish view on Dogecoin price. He said Dogecoin is ready for the upcoming meeting. His accompanying chart showed that DOGE could eventually reach $30 at the peak of this bull run.
At the time of writing, the price of Dogecoin is trading at around $0.41, up more than 6% in the last 24 hours, according to the report. the data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
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