The original meme coin Dogecoin has traditionally been left for dead by serious crypto investors during long bear market doldrums. But savvy traders aware of DOGE’s cyclical price patterns may soon have the last laugh if the asset continues demonstrating historical repetitions pointing to epic price lifts.
TLDR
- Dogecoin saw massive 10x price surges in 24 hours back in January 2021 during previous bull markets
- Analysis shows falling wedge patterns and consolidation periods consistently precede parabolic DOGE breakouts
- Current consolidation suggests potential for another major bull run launching in April 2024
- Technical analysts are closely monitoring if history repeats, though crypto markets remain unpredictable
- Recent DOGE listings on major Japanese exchange Bitflyer and bullish indicators have fueled price rise predictions
As the popular Shiba-Inu themed token consolidates through early 2024, analysis by crypto expert Ali Martinez spotlights bullish signs of an impending rally.
Martinez notes Dogecoin bull markets consistently play out in similar falling wedge structures – surging up to 10x within 24-hour flashes before crashing back down to earth after peaking.
The price action of #Dogecoin appears to mirror patterns observed in its past bull markets. If history repeats itself, we could see $DOGE enter a parabolic breakout around April! pic.twitter.com/fL1J3CP3mR
— Ali (@ali_charts) February 26, 2024
Based on current chart patterns mirroring past cycles, indications suggest DOGE winding up for its next parabolic breakout as soon as April 2024. That aligns symbolically with when the Bitcoin halving post-bubble pops historically as well. With Dogecoin prone to riding crypto manias to exaggerated new highs, the timing indicates massive fireworks on the horizon.
The last two Dogecoin mega-bulls saw the asset spike over a staggering 9000% between 2013-2025 and another 20,000% into 2019 from 2018 bargain basement lows. So the potential for exponentially gains always exists with traditionally volatile DOGE before gravity sets back in.
Recent green shoots suggest the Dogecoin price already percolating for a moonshot as well. The past month alone has seen 24% returns materialize, pushing back towards the crucial $0.10 threshold. And DOGE just achieved a key listing on leading Japanese exchange Bitflyer to boot.
With bullish indicators flashing positive momentum on the Dogecoin chart even as Bitcoin and broader markets temp consolidation, expectations are raging for a breakout. Technical analysis shows DOGE striving to break past overhead resistance and MA resistance between $0.11 to $0.12.
Crossing that Rubicon could set off FOMO fueled buying leading to a classic short squeeze for the ages. And with the timing coinciding with crypto’s four-year market cycle, all systems appear go for Dogecoin to mutated into its final meme coin boss form.
Of course, cryptocurrency prices always carry unpredictability and boom-bust risk. But based on all available signs, evidence mounts of the Doge gearing up to have its dog day yet again.
The burgeoning rally back towards $0.10 likely constitutes just the starting blocks. So while DOGE tempers anticipation with its usual patience, once momentum initiates it may become impossible to hop aboard the moon ride.
Source: https://blockonomi.com/here-we-go-again-dogecoin-doge-price-primed-for-parabolic-2024-breakout-as-history-rhymes/