Dogecoin Price May Reach Next Peak Around April As Analyst Envisions A 154,400% Surge For DOGE

The Dogecoin price has recently experienced a notable correction, retracing 34% over the past month to settle at $0.259 as of Tuesday. This marks a substantial

The price of Dogecoin (CRYPTO: DOGE) has declined sharply in recent weeks, amid a broader downturn in the cryptocurrency market. However, some analysts remain optimistic about the long-term potential of the memecoin, suggesting that it could still experience significant gains in the coming months.

One analyst, who goes by the name Dima Potts on social media platform X (formerly Twitter (NYSE:TWTR)), recently shared his thoughts on the possible price movements of Dogecoin. Potts, who has a large following among crypto enthusiasts, indicated that the anticipated pullback in the memecoin’s price has finally occurred.

According to Potts, if this pullback stabilizes, the market could be poised to target all-time highs, ranging between $1.50 and $2.10. However, the analyst noted that this price zone might act as a significant resistance level for Dogecoin, as seen in prior market cycles.

In a more detailed analysis, Potts highlighted a historical correlation in the Dogecoin price cycles. The first cycle peaked 1,442 days after its initial high, experiencing an increase of 21,821% from its low point.

The second cycle followed suit, reaching its peak another 1,442 days later, but with an even more dramatic rise of 54,890%.

With the cryptocurrency now in its third cycle, Potts speculates that if historical patterns hold true, the Dogecoin price could reach its next peak around the week of April 14th.

Another analyst, who prefers to remain anonymous, has also offered a bullish outlook for Dogecoin. The analyst, in a recent analysis, suggested that the memecoin could experience a 154,400% surge in the coming months.

This astronomical rise, according to the analyst, could be fueled by growing adoption, increasing institutional interest, and ongoing technological improvements.

However, not all analysts are convinced about the short-term bullish prospects of Dogecoin. Technical analyst Grumlin, for instance, has issued a warning, predicting that the memecoin may dip to the $0.02 level in the near term.

If Grumlin's analysis proves accurate, Dogecoin would experience a significant crash of over 92%. However, the analyst also points to a likely rebound from an ascending support line, which could set the stage for a subsequent upward breakout.

At the time of writing, Dogecoin was trading at $0.259, with losses of 21% and 27% over the seven-day and fourteen-day time frames, respectively. It remains to be seen which side will break first and how investors will react to each scenario.