Dogecoin price is on a tear and just surpassed its previous two-month high following Elon Musk mentioning D.O.G.E on X. The crypto community has caught on and is pushing the narrative, especially after Donald Trump’s numbers on the polls increased, suggesting he has higher chances of winning the elections.

DOGE price today is $0.1330, up 23% in the last 7 days, including a 6.8% increase in the last 24 hours. The crypto market is down 1.5% as Bitcoin price struggles to regain $68,000. 

DOGE is known for dramatic price increases, especially during bull runs, as seen in the 8,000% increase in 2017 and 23,000% in 2021. Can the price of DOGE rise to $2 by December?

Historic Signal Promises $4 Dogecoin Price by March 2025

Dogecoin was created in 2013, unfortunately missing the 2012 Bitcoin halving. But it nevertheless enjoyed some of the pump that followed the halving. However, moving forward, DOGE has displayed exemplary performances following Bitcoin halvings:

2nd Halving (July 9, 2016): 231 days after this halving, the price surged by approximately 8,000%, marking the start of a massive bullish run.
3rd Halving (May 11, 2020): DOGE price experienced an even more remarkable 23,000% rise 192 days after the halving, peaking during the 2021 bull run.
4th Halving (April 20, 2024): DOGE price broke out 156 days after the halving, suggesting the 2025 Dogecoin bull run cycle has begun. Given past trends, a significant price movement could follow.

Using a Fibonacci tool to estimate the price increase, we can see that the price retraced deep into the 0.785 fib levels, but it is headed up now. If the buying pressure persists, Dogecoin price may surge to the 4.236 fib extension level, which coincides with $3.95.

Dogecoin

Additionally, the DOGE bull run lasted 294 days in 2017 and 168 days in 2021. The average of these durations is 231 days. 22 days have already elapsed since the DOGE price broke out, meaning the meme coin has about 210 days to hit the top. This puts the timeline around May 16, 2025.

DOGE Price Analysis: All Eyes on $0.22

In the short term, DOGE broke out of a falling wedge and retested it to confirm the bounce. It is now clear the price of DOGE is in a bullish reversal. The immediate resistance currently sits at $0.14. 

Beyond that, the Dogecoin price may surge to $0.23, breaking yearly highs. The next stop after that is the $0.29-$0.33 range before finally targeting the previous all-time highs.

Dogecoin Price Analysis Chart

Dogecoin price prediction shows if the asset drops back into the falling wedge, it may signal crypto market weakness, turning the breakout into a fake out. DOGE may fall lower during market panic, finding support around $0.08 and $0.077.

The post Can Dogecoin Price Hit $4 By May 2025 After This Historic Signal? appeared first on CoinGape.

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Filed under: News - @ October 18, 2024 5:19 am