Recent forecasts indicate that Dogecoin’s price might soon ascend to double digits, reminiscent of the bullish trends seen in 2017. Cryptocurrency trader Tardigrade predicts that if Dogecoin follows its previous trajectory, it could reach approximately $8.7. This outlook is supported by the emergence of two distinct sub-cycles in Dogecoin’s price patterns, suggesting the potential for a significant increase by 2025, much like the exhilarating climb of the 2017 bull market.
Historical Price Trends
Back in 2017, Dogecoin experienced two remarkable price spikes. Initially, it rose to $0.00850 and later exploded to $0.01. Current market dynamics imply that if Dogecoin continues on this path, there’s a chance it could skyrocket to around $30.
Recent Developments
From October to November, Dogecoin saw a staggering increase of over 200%, but it has recently stabilized around $0.40. Analyst Justin Bennett believes that Dogecoin is approaching a new record high, with estimates suggesting it could peak between $0.76 and $1.6 in the next market cycle.
Market Momentum
As of now, Dogecoin hovers around $0.44, marking a more than 3% gain in just the last 24 hours. This newfound momentum can be attributed, in part, to influential supporters like Elon Musk, who continue to rally behind the popular cryptocurrency.
Source: Bitcoinist
