Dogecoin (DOGE) Price Could Hit $10 In This Market Cycle

Crypto analyst DOGECAPITAL has predicted that the Dogecoin price can hit $10 in this market cycle. The analyst drew similarities between the DOGE’s current price action and that of the previous bull cycles to explain why the meme coin can reach this price target.

Crypto analyst DOGECAPITAL predicts that the Dogecoin price can hit $10 in this market cycle. The analyst drew similarities between the DOGE’s current price action and that of the previous bull cycles to explain why the meme coin can reach this price target.

In an X post, DOGECAPITAL predicted that the Dogecoin price could hit $10 in this cycle and alluded to previous cycles as to why he is confident that DOGE can reach this price level.

"Is Dogecoin going to hit $10 in this cycle? I believe so. Take a look at the weekly chart, we're now in the third year of the cycle and every fourth year the top meme coin is testing the same line again, before starting the second phase of its parabolic move."

The analyst explained that the Dogecoin price also looks to be performing better than previous bull cycles. DOGECAPITAL mentioned that in 2024, DOGE had its best third-year performance, increasing 3.5 times in price, compared to 1.5 times in 2016 and 2.5 times in 2020.

"This also explains why the current pullback for Dogecoin appears larger than the previous two cycles. But according to history, Dogecoin will hold around this line on the weekly timeframe, which is around $0.20. After this consolidation period is complete, we can expect to see Dogecoin move towards $1.70 as it hits the same parallel resistance level. The second parabolic upward phase is likely to begin in the coming weeks."

This move will mirror previous cycles in which the meme coin hit the same parallel resistance level. After this move, DOGECAPITAL expects the cryptocurrency to continue increasing in price to $6,800 or $10.

"It's important to remember that the cryptocurrency market is constantly changing, and no one can predict the future with certainty. However, by studying past trends and technical indicators, we can make educated guesses about what might happen next."

Another crypto analyst Trader Tardigrade suggested that the Dogecoin price rally to $1 could happen soon as the crypto's Relative Strength Index (RSI) has hit a critical level, potentially driving a massive rally.

"The RSI on Dogecoin has reached a crucial point—either a final lower low or a potential divergence. If it manages to rise from here and the price follows suit, we might witness a substantial rally. The next target of $1 remains unchanged."

In another X post, Trader Tardigrade revealed that Dogecoin was repeating a bullish historical pattern.

"We're observing a classic pattern unfolding: following a steeper decline in the third year, a smaller decrease in the fourth year leads to a final lower high before the parabolic move commences. At this level, there's no reason to be bearish; instead, let's keep the big picture in mind."

It seems like DOGE whales are also anticipating this price rally and have been accumulating more coins. Crypto analyst Ali Martinez revealed that these whales bought 530 million DOGE in 72 hours.