Dogecoin Price Completes First Bull Phase Similar To 2021, Here’s What Comes Next
30 November 2024 - 5:30PM
NEWSBTC
Crypto analyst KrissPax has revealed that the Dogecoin price has
completed the first part of its bull phase, similar to what
happened in the 2021 bull run. The analyst further provided
insights into what is to come next for Dogecoin. Dogecoin
Price Completes First Bull Phase In an X post, KrissPax mentioned
that the Dogecoin price has completed its first up-phase this bull
cycle, similar to the 2021 and 2017 bull runs. He noted that those
previous cycles recorded two additional up-phases with huge
percentage gains. Based on this, Dogecoin could record two more
up-phases before its price tops in this market cycle. Related
Reading: XRP Price Prediction: Analyst Says History Is Repeating
Itself, Here’s How The crypto analyst called for patience with the
Dogecoin price while it chops sideways a bit, possibly until the
next leg of the up-phase begins. Crypto analyst Ali Martinez also
mentioned how Dogecoin would test market participants’ patience in
this parabolic run. He added that, just like in 2017 and 2020, the
TD Sequential has shown a sell signal, which could lead to a brief
correction before the bull rally continues. Meanwhile, in a
previous analysis, KrissPax provided insights into how high the
Dogecoin price could reach in this market cycle and what levels
could mark the local tops for remaining up-phases. The crypto
analyst predicted that Dogecoin could reach $3 in this bull run.
However, he said the first step is for DOGE to reach $1.
Therefore, the next up-phase could lead the Dogecoin price to $1.
Once that is done, the next up-phase could be a rally to $3, as
KrissPax predicted. However, Martinez’s chart showed a channel that
could lead DOGE to rally to as high as $14 if it gets to the upper
boundary of the channel. The median of the channel puts Dogecoin
just above $1.5. Almost Time For The Next Leg Up Crypto
analyst Kevin Capital suggested that it is almost time for the
Dogecoin price to enjoy its next leg up. In an X post, he stated
that Dogecoin has consolidated long enough and that the meme coin
has also reset some key indicators on the daily time frame. In line
with this, he believes Dogecoin will start heading higher.
Related Reading: Bitcoin Price Forms Bullish Pennant On 3-Day
Chart, $145,000 Target Swims Into View The crypto analyst added
that the next leg will give market participants a good idea of the
macro top for the Dogecoin price down the line. Crypto analyst
Master Kenobi suggested that the next leg for Dogecoin will come
unexpectedly. In an X post, he said that when it happens, it will
happen fast. His accompanying chart showed that the Dogecoin
price will break above its current all-time high (ATH) on its next
leg up and rally to as high as $1.08. At the time of writing,
the Dogecoin price is trading at around $0.42, up over 5% in the
last 24 hours, according to data from CoinMarketCap. Featured
image created with Dall.E, chart from Tradingview.com
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