As the general cryptocurrency market is witnessing a rebound, assets like Dogecoin, the leading meme coin are attracting strong optimism from the industry as bullish predictions toward the coin’s potential in the short term are on the rise.
Dogecoin’s Path To Major Gains In 2025
With the renewed optimism observed in Dogecoin’s price performance, Dima James Potts, a crypto expert and trader considering the recent movement has predicted a historic surge for DOGE, projecting the biggest price increase as the dog-themed meme coin approaches 2025.
Drawing attention to his chart, Dima James Potts pointed out a green and red line intersection that often leads to a series of green weeks almost immediately after the cross. “While history doesn’t always repeat itself exactly, it often rhymes,” the analyst added.
According to the expert, this bullish intersection occurred once again during the first week of September, and as a result, Potts looks forward to a lot of green days and weeks. While James Potts anticipates positive weeks, he also expects major drawdowns to coincide with notable upward movements as seen in previous cycles.
Furthermore, he noted that from Cycle 1 to Cycle 2, there is a growing consolidation time in each cycle, and Dogecoin’s upward movement becomes more intense each period. Meanwhile, Cycle 3, which is the current cycle has shown to be the longest one so far.
Thus Considering this trend, the expert is confident about the meme coin‘s potential as he predicts DOGE will see its most significant increase going into next year. Given Dogecoin’s long-term performance, this prediction could inspire renewed interest among investors, both old and new ones.
Potts’ analysis aligns with Master Kenobi’s, who also highlighted 3 major cycles for DOGE. Kenobi underlined that 3 major downtrend cycles made up the token’s bear market before a rally. The analyst claims that the first cycle lasted 540 days, or about 1.5 years, while the second cycle lasted 364 days or exactly 1 year.
Currently, the third downturn cycle, which lasted roughly 182 days, or half a year, is now coming to a close. Overall, this pattern according to Kenobi could indicate that, somewhere in a matrix, the bears are preparing for hibernation.
DOGE In The Spotlight
Dogecoin is presently displaying a healthy performance following a surge from $0.089 to the $0.104 level. The price spike is believed to be caused by the recent endorsement of DOGE from the owner of the X platform and the world’s wealthiest man, Elon Musk.
On Monday, Musk responded to a post from a DOGE enthusiast, DogeDesigner, saying that “naturally, our official mascot will be the Doge.” This single tweet from Musk sparked interest in Dogecoin, drawing in many investors, which resulted in a price increase.
With the market recovering, Musk’s endorsement of DOGE is closely watched by investors and traders due to a previous scenario in 2021 where the billionaire’s support for the meme coin coincided with its biggest price rally.
Featured image from Unsplash, chart from Tradingview.com
Source: https://bitcoinist.com/dogecoin-to-experience-biggest-rally/