Dogecoin price is replicating a bullish fractal from 2021, suggesting this Potential for a price breakout to new highs. A crypto analyst has shared a price chart comparing this historically recurring fractal to Dogecoin’s current performance. predict a massive increase reach new all-time highs by January.
Historic Fractal Triggers Dogecoin Price Surge Above $4
In an X (formerly Twitter) post On Wednesday, Trader Tardigrade, a well-known crypto trader and analyst, predicted that Dogecoin, the number one meme coin, could set a record explosive price rally rise to over $4 by January 2025. The analyst revealed that Dogecoin is repeating a key fractal seen during its huge price rise in the 2021 bull market.
He presented two parallel charts comparing Dogecoin’s movements between 2020 and 2021 and those of 2024. The right side of the diagram shows The price development of Dogecoin in 2020, leading to a massive increase in January 2021.
Before this significant price increase, Dogecoin experienced a series of Consolidation patterns. The blue triangle on the chart indicates a local peak, the green curve shows a price recovery after a decline, and the orange arc represents a phase of gradual consolidation.
These pronounced price movements culminated in a strong breakout for Dogecoin, which pushed it to over $0.065 in January 2021.
Based on Trader Tardigrade’s analysis, Dogecoin is repeating this bullish setup, with the same consolidation patterns appearing on its price chart. The blue triangle on the left side of the chart shows that Dogecoin has already reached its first peak. Furthermore, the green curve highlights a price recovery and the orange arc signals a rounding consolidation pattern.
If these bullish fractals hold, Dogecoin could mirror its previous price action and experience a strong rally similar to that Pump 2021. Therefore, the analyst referred to January as “the Big Bang month” and emphasized its importance for this period bull market. Trader Tardigrade predicts that if Dogecoin repeats the historical fractal, it could trigger a sharp increase strong enough to push the meme coin’s price above $4.
Analyst Predicts a 570% Surge for Dogecoin
Crypto analyst Javon Marks has also done this predicted a massive bull rally for Dogecoin, highlighting the importance of historically repeating patterns in determining the future development of the meme coin. The analyst shared a chart outline The price behavior of Dogecoin over three different cycles – Cycle 1, Cycle 2 and Cycle 3.
Each cycle follows a similar consolidation pattern within a descending triangle, followed by a breakout that results in a significant price rally. Dogecoin surpassed the 1,618 level Fibonacci expansion level during each cycle after successful replication of historical consolidation patterns.
Based on this analysis, the current Dogecoin price movement in Cycle 3 is consistent with the recurring pattern. If this trend continues, Marks predicts that Dogecoin could see a massive surge of over 570% and potentially reach $2.28 or more.
Featured image created with Dall.E, chart from Tradingview.com