A potential shift from bearish performances in Dogecoin’s price seems to be on the horizon as the chart shows an encouraging trend of growing bullish momentum. With DOGE’s upside strength gradually building, analysts believe that the meme coin could be entering the beginning of a notable price move to higher levels.
Is Dogecoin’s History About To Repeat Itself?
Dogecoin may be eyeing a significant move leading to a new all-time high in the ongoing market cycle. Seasoned market expert and investor DOGECAPIATAL has identified a bullish trend that suggests that such a move might happen shortly for DOGE, solidifying its potential in the current cycle.
In the recent X (formerly Twitter) post, the expert highlighted that DOGE‘s recent price action is drawing a parallel with past cycle trends, particularly the 2017 bull market cycle. “Although both charts cover different timeframes, similar price patterns are emerging,” he stated. This development has triggered speculations about a possible massive rally for the meme coin in the upcoming weeks.
Looking at the side-by-side chart shared by the analyst, this cycle appears to be in the same position as the 2017 cycle, where prices witnessed a massive upswing. This chart attempts to illustrate how history frequently rhymes, even when it doesn’t repeat exactly.
Thus a similar price trend in 2017 would suggest that DOGE might be on the verge of a significant breakout shortly. DOGECAPITAL highlighted that this comparison is presently based on a previous chart he posted about the 1442-day cycle peaks theory that Dogecoin experiences in every cycle.
As a result, the expert is confident that the meme coin will reach its all-time highs and then rise even higher in the upcoming weeks, reflecting its performance in 2017. However, volatility is likely to increase alongside price growth.
Comparing the different time frames, DOGECAPITAL has declared that “2025 is poised to be the biggest year for Dogecoin.” Nonetheless, the expert has urged investors to be cautious during this period and concentrate on the bigger picture rather than day-to-day price movements. These fluctuations are meant to shake out weak hands.
As DOGE moves in a 2017-style trend, DOGECAPITAL has underscored his underlying commitment to providing more accurate price guidance toward the final cycle peak.
DOGE’s Bearish Performance To Extend
While DOGE’s long-term outlook remains bullish, its outlook in the short term is not looking too good. Technical expert and trader Ali Martinez has predicted a possible decline in Dogecoin’s price in the short term.
After navigating recent price action, Martinez highlighted that the meme coin has formed a death cross between the Market Value to Realized Value (MVRV) Ratio and its 200-day Moving Average (MA). As seen in the past, this development has sparked a notable decline of 26% and 44% in DOGE’s price.
With the trend repeating itself, Dogecoin could be set to see a similar reaction, suggesting a further decrease in its recent bearish movements. This trend comes amid fading whale activity on the Dogecoin network, which has dropped by nearly 88% since mid-November.
Featured image from Unsplash, chart from Tradingview.com
