Crypto analyst Hailey has predicted that Dogecoin could see a 2,500% rally to $2, based on a historical pattern. This is because DOGE continues to trade below the psychological level of $0.10 in the middle of trading the war between the US and Iran.
Dogecoin Eyes 2,500% rally as history repeats itself
Crypto analyst Hailey said in a X message that Dogecoin could post a gain of 2,500% if history repeats itself. The analyst noticed this outbreaks of patterns like the one formed for DOGE have historically delivered life-changing returns. The targets for DOGE during the expected rally are $0.28, $0.5, $1 and $2.
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The analyst’s accompanying chart showed that this Dogecoin rally to $2 could happen in 2029, a period that could mark the top in the next bull run. Interestingly enough, crypto analyst CW stated that the bull rally for DOGE has already started, as a green candle has appeared at the bottom of the ascending channel, a historic bottom.
Furthermore, crypto analyst TraderSZ suggested that Dogecoin has bottomed out, with the top meme coin trading at an all-time low. This was evident from the analyst’s accompanying chart DOGE could rise to $0.80 by next year, which would mark a new low for the meme coin.
However, crypto analyst Chiefra has predicted that Dogecoin is still at risk of a further downturn. The analyst said DOGE is within the final bear market accumulation range. He added that continued consolidation below $0.10 could easily lead to a further 35% decline towards $0.06. The top meme coin is also at risk of a further decline due to the conflict between the US and Iran, which continues to put pressure on the crypto market.
A DOGE rally to $0.44 in the near term
Crypto analyst Javon Marks has predicted that Dogecoin could rise to $0.44 in the short term. He noted that A Hidden bull divergence can form with DOGE’s momentum oscillator, causing lower lows to be made and the price currently having higher lows. The analyst said this points to a strong possibility of a major continuation. This continuation could lead to a 350% rally, pushing the meme coin above $0.44.
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Now a crypto analyst Trader Tardigrade warned market participants should be cautious about Dogecoin’s current price action on the daily chart. He noted that DOGE still remains above support, but two indicators are flashing bearishly. This includes the Relative Strength Index (RSI)that no longer has support. Moreover, the MACD is close to a bearish crossover. However, Trader Tardigrade is bullish on the monthly, stating that DOGE appears poised for a rally to $1.
At the time of writing, the Dogecoin price is trading around $0.09358, up almost 3% in the past 24 hours, according to facts from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com