With the mainstream crypto market under a lot of pressure, Dogecoin fell sharply, reaching as low as $0.327 on Wednesday. Despite the significant price decline, DOGE’s potential for further growth in the current cycle may remain the same as past trends suggest a continued bull phase.
The Last Phase of the Dogecoin Bull Run on the Horizon?
Dogecoin may have caused fear and uncertainty among investors after the recent price drop. However, with positive price trends emerging, the short-term and long-term dog-themed meme coin remains strong as this cycle continues.
After examining Dogecoin’s recent price action, Trader Tardigrade, a market expert and investor, has underlined an extension of the DOGE bull section. In his analysis, the expert predicted that DOGE’s final bull run may be near.
This forecast, which has attracted public attention, is in line with trends during previous cycles, suggesting that its final bull run may be about to begin. Historical styles show that this movement has preceded strong rallies in the past, causing speculation about the resurgence of the price among investors.
As noted in previous patterns, i meme coin it rallied for several months near its all-time highs before its last rally in 2017. Meanwhile, a similar trend has emerged in this ongoing cycle as the 1-month chart shows that DOGE is currently consolidating near key levels.
If DOGE repeats the same result, Trader Tardigrade says the current consolidation may continue for several months until the last bull run. As a result, the expert foresees a rally in the near future $6 levelwhich marks a new all-time high and potential market high for DOGE.
Given the growing optimism in the market as well growing workcrypto enthusiasts are actively monitoring DOGE’s price trajectory as the meme coin climbs to critical milestones.
Considering the continued positive development in the price, Trader Tardigrade urged investors to remain firm, to be aware that now is not the time to sell or short DOGE. This is because Dogecoin is retesting the essence of the Ascending Triangle formation, which shows a good idea of ​​the meme coin.
When an ascending triangle pattern opens, it usually indicates upward momentum. DOGE’s move to the top line raises the strength bullish burst if the price holds above the line in the coming days.
DoGE’s Next Major Rally is set for 2025
The recent bearish performance in the mainstream crypto market has resulted in a significant drop in DOGE. Despite the decline, KrissPax, a crypto expert, highlighted that the price action of Dogecoin is very similar to the previous trends of the last year that preceded the upward movement.
KrissPax noted that before the big increase in 2024, the stock peaked in November 2023, then fell and consolidated. In November 2024, THE DOGE it also sold well, then collapsed, and is currently collapsing. Because of this, the expert expects the next big meeting of Dogecoin in the coming weeks.
Featured image from Unsplash, chart from Tradingview.com