Despite this, the cyclical Dogecoin price patterns continue to point to bullish price targets advanced consolidation and correction in the last two weeks. Interestingly, technical analysis suggests that these bullish price targets are likely to be implemented over several weeks and months rather longer-term predictions against the currently short term bearish price movement.
According to a technical analysis by crypto analyst Dima James Potts, Dogecoin could see a 3,700% increase and reach $11.65 by the end of 2025. This forecast is based on an analysis of the historical trend of Dogecoin’s performance during the four-year cycles within its monthly timeframe charts.
The historical cycle suggests a parabolic rise in Dogecoin price
Go to social media platform X Share the technical outlookCrypto analyst Dima James Potts worked on the Dogecoin price chart on the monthly time frame. According to the analyst, Dogecoin is currently in a third cycle, which is known to take place over a period of four years. What is noteworthy is that these cycles always culminated in a crazy Dogecoin price surge in the fourth year.
Potts highlighted the coin’s performance in the fourth year of each major cycle, noting two instances of notable growth. During the first cycle, Dogecoin’s fourth year opened at $0.00023 and closed at $0.00851, a 37-fold increase. In the second cycle, the fourth year started at $0.00460 and ended at $0.17064, again marking a 37x gain. These fourth-year rallies are highlighted by purple candlestick bars, as shown in the chart below.
From the looks of it, Dogecoin is about to do so transition into the fourth year of this pattern. Based on this pattern, Potts predicts that the upcoming fourth year of the current Dogecoin cycle, scheduled to begin in 2025, could follow a similar trajectory.
2025 as a crucial year for Dogecoin
As 2024 comes to a close, crypto market participants are now looking ahead to what 2025 has to offer, with the general forecast pointing to an upward trend for most of the year. According to Dima James Potts, Dogecoin is on the right track to recreate another 37-fold increase in 2025 as a repeat of the fourth annual part of its cyclical pattern. Therefore, Potts noted that if the closing price in 2024 is around $0.315, a 37-fold increase could result in a year-end price of around $11.65 in 2025.
Potts emphasizes that the $11.65 forecast is a conservative year-end estimate and not a peak price, suggesting that Dogecoin could potentially surpass this target at some point in 2025.
At the time of writing, Dogecoin is trading at $0.312 and the $11.65 target is more than 3,500% away. Interestingly, another technical analysis from crypto analyst Javon Marks also supports this outlook Dogecoin’s cyclical pattern. According to him, Dogecoin is currently in its third cycle and is preparing to reach new all-time highs by 2025.
Featured image created with Dall.E, chart from Tradingview.com