The post Dogecoin Push To $10: Why This Recurring Trend Could Trigger A 10,000% Surge appeared on BitcoinEthereumNews.com.

Dogecoin has become known as one of the altcoins in the crypto market to put on impressive rallies with each bull market cycle. These powerful performances have solidified it as an investor favorite, and the current cycle is no different. With the expectation that the crypto market will see another bull run in the coming months, analysts believe that the Dogecoin price is set for a massive price surge that could send it into the double-digits territory. Historical Bullish Chart Formation Returns Crypto analyst Dima James Potts took to X (formerly Twitter) to share an interesting formation in the Dogecoin chart. This analysis takes into account the previous performances of the meme coin in crypto bull cycles and how the price has behaved leading up to each rally. For example, the crypto analyst points out that leading up to the 2017 bull market, there was an intersection between the Dogecoin bear market bottom and the bull cycle top. What followed this formation was a 9,000% rally that took the meme coin’s price from $0.00009 to $0.014. Then, like clockwork, leading up to the next bull cycle that ended in 2021, the Dogecoin price repeated the same pattern. Once again, there was an intersection of the line leading from the bear market bottom with that leading from the bull market top, as illustrated in the chart. Just like in 2017, this intersection marked the beginning of another significant rally for the Dogecoin price. Propelled with help from the likes of billionaire Elon Musk, the Dogecoin price went from below $0.015 to $0.7, completing an 18,000% rally during this time. Now, this same pattern has returned and like before, the crypto analyst expects that it is the signal that the DOGE price is ready to go on another rally. The lines have…

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Filed under: News - @ August 31, 2024 11:32 pm