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

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	22,329,687,111	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

22,329,687,111

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.005217	2.07%	0.257568	0.257438	0.257439

Price Change

Price Change %

Current Price

Bid Price

Offer

0.005217

2.07%

0.257568

0.257438

0.257439

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.258055	0.251068	0.252351	0.252351	0.077142 - 0.449994

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.258055

0.251068

0.252351

0.077142 - 0.449994

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	16:16:00	60.95	0.257568	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

16:16:00

60.95

0.257568

USD

Price x Volume	Volume	Base Symbol	Related Pairs
175,789.95	690,832.58	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

175,789.95

690,832.58

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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