A new Dogecoin price analysis suggests this top meme coin could rise to a new ATH of $10. A crypto market expert, Dima James Potts, attributes this prediction to the 4-year cycle theory, which illustrates parabolic growth during each major cycle.
Dogecoin Price Set Sights On $10 Target
On January 11, Potts shared a chart comparing three distinct cycles in the Dogecoin price action. The analyst predicts that the Dogecoin price could skyrocket to $10 if it follows historical bullish trends observed in previous cycles. The analyst’s forecast is grounded on the 4-year cycle theory, a term characterized by Bitcoin’s scheduled halving events, which reduce miner block rewards by 50%.
Potts has revealed that Dogecoin’s bullish action during each cycle occurred after the technical indicators—” the green and red trendlines”—crossed each other. In Cycle 1, during the early stage of the Dogecoin market performance between December 15, 2015, and December 26, 2016, the analyst reported a massive increase of 9,404% to $0.01 following the green and red trendline crossover.
In Cycle 2, which occurred years later, between December 2019 and December 7, 2020, the analyst disclosed that Dogecoin experienced another substantial rise of 29,626% to $0.5 after the trend lines crossed. This considerable price surge represents exponential growth compared to the first cycle.
The crypto market is in the fourth year of Cycle 3, and Potts anticipates greater parabolic growth in 2025 based on similar trend patterns. He predicts that Dogecoin will experience an 11,049% surge in 2025, marking a substantial rise from its current market value of $0.32 to a $10 all-time high.
In the chart, the analyst issued an even larger price target for Dogecoin this year. He indicated that after a potential surge to the $10 target, Dogecoin could experience another massive 40,037% increase to reach a price level between $30.5 and $38.5.
Potts mentioned that during this cycle, Dogecoin’s bullish price surge will be driven by technological advancements and global adoption of the top meme coin. He also noted that historically, Dogecoin’s performance was the highest during the fourth year of each cycle. As a result, he believes that this current cycle would experience similar substantial growth.
Update On DOGE Price Action
Dogecoin is currently trading at $0.32 after experiencing a massive 20.25% price crash over the past month. Earlier in January, the cryptocurrency appeared to be rising significantly, driven by whale accumulation and increasing investor demand for the meme coin.
Since its previous surge, Dogecoin has experienced a pullback, dropping by 15% over the past seven days and by another 3.89% in the last 24 hours. Despite this bearish performance, analysts remain optimistic about the meme coin’s future price trajectory.
Notably, Mister Crypto, an analyst on X, stated that Dogecoin is currently in its final consolidation phase before a “parabolic blast off.” The analyst suggests that Dogecoin could experience a massive price surge to $1.5 once this consolidation ends.
Featured image created with Dall.E, chart from Tradingview.com
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