The new Dogecoin price forecast has put it on another bullish path and this time, it predicts that the meme coin is headed for a new all-time high. In particular, crypto analyst @Kev_Capital_TA on X made a remarkable prediction about a meme coin that could see it cross the $1 market. This is based entirely on the past performance of the Dogecoin price, taking into account the average number of days it takes for each parabolic surge to occur.
DOGE Deserves Surgery
The crypto analyst explained that until now, the price of Dogecoin has maintained an average of 1,095 days per cycle before the parabolic surgery. Naturally, with this trend that has held until now, this year is expected to be different and the price of Dogecoin is expected to follow.
However, currently the price of Dogecoin has exceeded the normal number of days and the parabolic explosion is yet to happen. This suggests a delay, but it doesn’t necessarily mean that surgery won’t happen soon. Rather, this could mean that the price of Dogecoin is due for an operation.
DOGE is now 1,246 days from the last parabolic sweep with no visible momentum. This puts the operation after more than 150 days already. On a more positive note, this delay could mean that the price of Dogecoin is finally breaking out of this trend.
A crypto analyst points to DOGE being behind schedule and still trending down as a possible reason. “Yes #DOGE is 151 days behind. The four-year cycle shows clear evidence that it may be broken. Don’t attack the messenger, just say thank you that I understand that you have given me such information.”
However, the crypto analyst’s chart shows what could happen if the price of Dogecoin were to complete a parabolic rise this time. From the current low of $0.1, DOGE could go up to $2.2, which would be an increase of over 2,100% from here.
Average number of days taken for each #Dogecoin a four-year cycle is 1,095 days before a price-matching operation occurs. We are currently sitting at 1,246 days and the price is still trending down without a parabolic surge. Yes #DOGE it is 151 days behind. Four… pic.twitter.com/HPOE4IruLr
— Kevin (@Kev_Capital_TA) October 5, 2024
Whales Could Push Dogecoin Price Higher
Despite the price of Dogecoin not following a 4-year parabolic trend, it did not end the bullish sentiment, especially among whales. Another crypto analyst, Ali Martinez, noted that DOGE’s whales have been positioning themselves to move higher.
This means that DOGE whales are still waiting for the price of Dogecoin to rise. This is further reinforced by the fact that Q4 2024 is expected to be bullish in the crypto market. If the price of Bitcoin continues to rise, so will the price of Dogecoin.
The featured image was created with Dall.E, a chart from Tradingview.com