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Crypto analyst Behdark has provided an in-depth analysis of Dogecoin’s price path so far. all time high (ATH) cost 0.75 $. In his analysis, he explains why Dogecoin could still see a significant correction before meeting its current ATH.
Dogecoin Next Wave Price Is Bearish
In a TradingView postBehdark said the price of Dogecoin seems to be entering wave F, which is a bearish wave. A crypto analyst noted that the past correction waves of this diametric lasted between 196 and 347 days, so this F wave is expected to last between 196 and 347 days.
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The accompanying chart from the analyst showed that the price of Dogecoin could go down today we are at 0.15 $ in this corrective movement of wave F. Similar to waves B and D, the analyst noted that this corrective wave is expected to be highly volatile. Based on a timeline of 196 to 347 days, this wave of guidance may not end until November 2025.
When the correction wave F is finished, the price of Dogecoin will change to G. Behdark said that Wave G will be a bullish wave that may lead to a new ATH. The accompanying chart showed that Dogecoin could reach around $0.8 in this unplanned move higher. However, the most expected psychologically $1 price level you can still miss the premium meme coin.
Meanwhile, the crypto analyst added that the weekly candle below the level of invalidity at $ 0.12 will make the green spot buying opinion between $ 0.15 and 0.20. Behdark’s analysis gives a completely different view of the price of Dogecoin, considering that crypto analysts like Trader Tardigrade they predicted that the meme coin could reach double digits before mid-2025.
Behdark’s analysis also suggests that the price of Dogecoin is unlikely to reach $1 in this market cycle, the target market participants have set their sights on since the meme coin began its parabolic rally between October and November.
The Four Year Cycle Is Still Playing
Crypto analyst KrissPax gave the best view of the price of Dogecoin, saying that the four-year cycle is still in play. The analyst cited a historical pattern in which Dogecoin started in January 2021 after an uptrend in late December 2020. He then suggested that this historical trend may be repeating itself again.
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Crypto analyst Master Kenobi He had previously suggested that the Dogecoin price rebound could be in January 2025 as he referred to the historical pattern of the 2021 bull run. A crypto analyst believes that Dogecoin can reach a new ATH with the inauguration of Donald Trump, especially when the Department of Government Operations (DOGE) comes to life when Trump takes office.
At the time of writing, the price of Dogecoin is trading around $0.31, down about 2% in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
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