Crypto Analyst Predicts When Dogecoin Price Will Hit $3 This Cycle

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,018,425,501	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,018,425,501

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.017	2.64%	0.660	0.660	0.661

Price Change

Price Change %

Current Price

Bid Price

Offer

0.017

2.64%

0.660

0.661

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.664	0.630	0.645	0.643	0.440000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.664

0.630

0.645

0.643

0.440000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:05:27	1.90	0.660	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:05:27

1.90

0.660

USD

Price x Volume	Volume	Base Symbol	Related Pairs
49,820.47	77,192.24	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

49,820.47

77,192.24

Crypto Analyst Predicts When Dogecoin Price Will Hit $3 This Cycle

18/01/2025 8:00pm

NEWSBTC

Dogecoin has cleared the $0.4 mark again after a few days of interesting price inflows that have caused its price to rebound notably from $0.31. This strong upward movement has allowed Dogecoin to reverse the price losses it incurred in the previous week. Related Reading: Dogecoin Open Interest Spikes To Nearly $5 Billion – Impact On Price Furthermore, this recent rally has positioned Dogecoin back on track for further upward movement, and the next outlook is price targets to expect in the case of a continued rally henceforth. A technical analysis on the TradingView platform highlighted a compelling comparison between Dogecoin’s current price movements and its historical patterns to predict a significant rally that could bring Dogecoin to $3 this cycle. Dogecoin’s Consolidation Mirrors January 2021 Rally The technical analysis in question looks at Dogecoin’s price action from a long-term perspective by analyzing formations on the weekly candlesticks. Interestingly, the weekly candlesticks show Dogecoin has been consolidating just below the $0.5 price level in a downward and upward movement throughout the past six weeks. The analyst highlighted that Dogecoin’s recent consolidation is almost an exact replica of a similar behavior above the 1-week moving average (MA50) in January 2021. This symmetrical positioning in time relative to the previous market cycle adds credibility to the argument that Dogecoin is following a cyclical pattern, which has been proposed by various analysts through multiple technical analyses. Back in 2021, the cryptocurrency transitioned from a period of accumulation to explosive growth, generating returns of over 3,600% from its bottom. Expanding on this cyclical pattern, the analyst highlighted another similarity in Dogecoin’s price rally in Q4 2024. Dogecoin’s price has risen by approximately 480% since its August 2024 bottom, a figure that matches the 480% increase observed during the November-December 2020 period. Following that initial phase 1 surge in 2020, Dogecoin entered a consolidation phase in January 2021 before starting phase 2 of its rally. The current consolidation, therefore, appears to mirror this historical sequence and lends voice to a prediction that Dogecoin may be on the verge of repeating its past performance. Phase 2 Target: A Path To $3 Based on the historical precedent, the analyst anticipates that Dogecoin’s “Phase 2” could bring a rally of 3,600%, similar to the cycle observed in early 2021. In terms of a price target, the projection is a 3,600% increase from the August 2024 low, which would bring Dogecoin towards the $3 mark. The timeframe for this price target is as early as the next three weeks, though the analyst noted that it could occur much later than that. Related Reading: Dogecoin Bulls Eye $3 As Whales Scoop 200 Million DOGE In The Last 2 Days At the time of writing, Dogecoin is trading at $0.3947, although it recently traded at an intraday high of $0.4334. A move to $3 would represent a 777% increase from the current price. Featured image from VOI, chart from TradingView

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