Dogecoin Eyes Bullish Resurgence as Analysts Predict a Major Upswing

• Dogecoin briefly reclaimed $0.2200 after a 15% surge amid a broader market rebound, reducing its YTD deficit to 30%.
• Analysts note Dogecoin’s strong cyclical performance, drawing on historical patterns post-Bitcoin halving cycles.
• Market expert KALEO warns not to fade DOGE, hinting at sustained upward momentum, while CryptoELITE projects a potential run to $5.

Dogecoin has shown immense strength at this point in the bull cycle, suggesting a rapid price development for the meme coin. Following a broader market rebound, DOGE briefly reclaimed the $0.2200 level after an impressive 15% surge yesterday. However, the move was short-lived as DOGE fell to the $0.19 level amidst the bearish reversal.

Dogecoin Bullish Cyclical Performance and Historical Patterns

Market expert KALEO has emphasized that Dogecoin has entered a super-bullish phase in its cyclical performance. His analysis, supported by a 3-day chart, draws parallels with Dogecoin’s behavior following previous Bitcoin halving events.

For instance, after the 2016 Bitcoin halving, DOGE broke out from a price range 84 bars (252 days) later, surging to its cycle peak of $0.0194 in January 2018. Similarly, after the 2020 halving, Dogecoin broke out from an ascending triangle and, after 86 bars (258 days), rallied to reach its then all-time high of $0.7605 in 2021.

More recently, DOGE displayed a similar price action pattern, breaking from an ascending triangle in November to a high of $0.4846. KALEO pointed out that after retesting the triangle in 98 bars (294 days), Dogecoin appears poised to continue its bullish uptrend.

If history repeats itself, the meme coin could potentially target unprecedented price levels, though KALEO did not specify an exact target for this bullish continuation.

Adding to the optimistic outlook, analyst CryptoELITE has predicted that Dogecoin is set to resume a significant northward move, with some projections hinting at a run toward $5. This bullish sentiment is further supported by renewed whale activity; prominent market watcher Ali Martinez recently highlighted that whales are returning to the Dogecoin network, having stacked 140 million DOGE over the past 24 hours.

This influx of large holders suggests that, despite recent struggles, institutional and long-term investors are once again backing the asset.