Dogecoin has been a standout meme coin with more than $25 billion in market capitalization. The coin also enjoyed high trading with 2 billion trading volume at the time of writing. However, many argue that the market capitalization of 25 billion and a max cap of around $80 billion is too big for the price to see major spikes again. However, technical charts show that there is still much room for growth in the long term.
Historical Patterns Point to Potential
A crypto analyst LLuciano_BTC (@DimaPotts36) shared a perspective on Dogecoin future. “Although it appears to be a significantly red week, zooming out to the weekly chart shows that not much has changed using Heikin Ashi candles,” he explained. “#DOGECOIN is currently positioned near the same line it has touched in previous cycles.”
This observation is particularly significant when examining Dogecoin historical performance. According to LLuciano_BTC, “Historically, Dogecoin has seen substantial upward surges starting from below or around this same parallel line (2017 & 2021). This is the moment we’ve been anticipating.”
The analysis suggests we may be nearing a crucial turning point. “The final bottom is very close to being confirmed,” LLuciano_BTC states. “While we might still see a wick below this line on the weekly timeframe, I believe #DOGECOIN will hold around this parallel line level before the next parabolic phase begins.”
DOGE Price Path to $10
The chart reveals a pattern of ascending parallel channels that have contained Dogecoin price action since 2014. Each major cycle has seen DOGE touch a support level before experiencing dramatic upward movement.
LLuciano_BTC projects that “Phase 2 is expected to drive the price upward towards the top white arrow parallel line, mirroring previous cycles (2017 & 2021), which currently aligns with the $1.75 zone and increases over time.”
While a move to $1.75 would be significant, the logarithmic growth pattern suggested in the chart indicates potential for much higher valuations in the long term. The $10+ price target, while ambitious, follows the same trajectory established in previous market cycles.
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Why This Time Could Be Different
The Dogecoin of today differs significantly from its earlier iterations. With increased mainstream adoption, celebrity endorsements, and potential utility expansions, DOGE has evolved beyond its meme origins.
As LLuciano_BTC confidently concludes, “From every fall, a greater comeback will emerge.” This sentiment captures both the cyclical nature of cryptocurrency markets and the particular resilience Dogecoin has demonstrated throughout its history. If historical patterns hold true, the journey to $10 might not be as far-fetched as many believe.
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