With the general crypto market under severe pressure, Dogecoin has declined sharply, reaching as low as $0.327 on Wednesday. Despite the notable downswing in price, DOGE’s potential to surge significantly in the current cycle may still be intact as past trends hint at a persistent bull phase.
Final Phase Of Dogecoin’s Bull Run On The Horizon?
Dogecoin may have triggered fear and uncertainty among investors after its latest price drop. However, with positive price trends unfolding, the dog-themed meme coin’s short-term and long-term outlook remains bullish as this cycle progresses.
Following an examination of Dogecoin’s recent price action, Trader Tardigrade, a market expert and investor, has underlined an extension of DOGE’s bull phase. In his analysis, the expert has predicted that DOGE’s final bull run could be on the horizon.
This forecast, which has attracted attention in the community, aligns with trends during previous cycles, suggesting that its last bull run may be about to begin. Historical trends show that this movement has preceded strong rallies in the past, triggering speculations about a resurgence in price among investors.
As observed in past patterns, the meme coin consolidated for a few months close to its all-time high levels before its last spike in 2017. Meanwhile, a similar trend has emerged in this ongoing cycle as the 1-month chart shows that DOGE is currently consolidating near key levels.
Should DOGE reiterate the same result, Trader Tardigrade claims that the current consolidation may continue for a few months until the final bull run takes place. As a result, the expert foresees a rally close to the $6 level, marking a new all-time high and a possible market top for DOGE.
Given the growing confidence in the market and rising activity, crypto enthusiasts are actively monitoring DOGE’s price trajectory as the meme coin rises toward important barriers.
Considering ongoing positive developments in price, Trader Tardigrade has urged investors to be steadfast, noting that now is not the time to sell or short DOGE. This is because Dogecoin is retesting the apex of the Ascending Triangle formation, reflecting a positive outlook for the meme coin.
When an ascending triangle pattern unfolds, it usually indicates an upside momentum. DOGE’s move to the upper line suggests a potential bullish breakout if the price holds above the line in the coming days.
DOGE’s Next Major Rally Set In 2025
Recent bearish performance in the general crypto market has triggered a notable decline in DOGE. Despite the drop, KrissPax, a crypto expert, highlighted that Dogecoin’s price action is quite similar to past trends from a year ago that preceded an upward move.
KrissPax noted that prior to a significant increase in 2024, the asset moved higher in November 2023, then fell and consolidated. In November 2024, DOGE also traded higher, then fell, and is currently consolidating. Due to this, the expert anticipates Dogecoin’s next major rally in the coming weeks.
Featured image from Unsplash, chart from Tradingview.com
