With the bull market still in play, there is strong optimism that Dogecoin will experience a major upward move in the near term. Many crypto analysts believe the impending move could push the dog-themed meme coin toward a new yearly high or new all-time high before the bull market concludes.
New DOGE All-Time Highs On The Horizon?
Despite unfavorable market conditions, technical expert and trader DOGECAPITAL still points to a bullish outlook for Dogecoin in the short term, expressing his robust confidence in the popular meme coin. His analysis suggests that DOGE might be resuming its bull phase as it gears up for a significant rally.
DOGECAPITAL draws parallels between recent market structure and previous bull cycle trends, signaling that DOGE could be on the verge of a major breakout. With recent price action, the expert claims that Dogecoin has been able to hold onto its previous pattern movements.
After accurately adjusting the chart to fit the current price action, DOGECAPITAL anticipates the meme coin to progressively shift in the direction of the purple line or the $0.28 range. This performance is similar to the previous cycle, particularly the 2017 bull market.
DOGECAPITAL claims that the purple line as seen in his chart marks the next major milestone for Dogecoin. Furthermore, the expert expects a rise in volatility beyond this level with prices consolidating before rising to new annual highs and eventually new all-time highs. However, this depends on the consolidation period, which will cause the analyst to readjust the red line slightly again.
In the meantime, the red line acts as a short-term support level that DOGE’s price needs to adhere to, similar to the 2017 cycle where the pattern first surfaced. Should Dogecoin sustain the key support level, its next move up may extend beyond recent peaks, reigniting its bull run.
Given that DOGE reflects the 2017 market structure, the expert is confident that the meme coin will move toward its current all-time high and beyond in the coming weeks. Thus he contends that “2025 is set to be the biggest year for Dogecoin.”
While volatility is possible, he has encouraged investors to remain steadfast on the bigger picture instead of daily movements that are meant to shake out weak hands. Upcoming developments like the Department of Government Efficiency (D.O.G.E) and a possible Dogecoin Spot ETFs continue to spur optimism about the meme coin’s long-term outlook.
Dogecoin’s Price In A Boring Phase
In a comparison analysis of the 2017 and 2025 cycles by seasoned crypto pundit Trader Tardigrade, DOGE has entered the “Boring Phase.” Considering past scenarios, this phase is crucial for its next major rally to a new height.
During this period, investors tend to heavily accumulate DOGE as they await an upsurge once the phase ends. However, prior to the anticipated surge, Trader Tardigrade warns of tight consolidation at current price levels over the next few weeks.
Featured image from Pexels, chart from Tradingview.com
