Here’s Why Dogecoin Price Could Hit $10 This Cycle

Crypto analyst DOGECAPITAL has predicted that the Dogecoin price can hit $10 in this market cycle. The analyst drew similarities between the DOGE’s current price action and that of the previous bull cycles to explain why the meme coin can reach this price target.

Why The Dogecoin Price Could Hit $10 In This Cycle

In an X post, DOGECAPITAL predicted that the Dogecoin price could hit $10 in this cycle and alluded to previous cycles as to why he is confident that DOGE can reach this price level. He remarked that the weekly Dogecoin chart highlights the price action of the previous two cycles.

As part of his analysis of this weekly chart, he noted that every fourth year, the top meme coin retests the same line (which he highlighted on his accompanying chart) before beginning the second phase of its parabolic move.

The Dogecoin price also looks to be performing better than previous bull cycles. The analyst mentioned that in 2024, DOGE had its best third-year performance, increasing 3.5 times in price, compared to 1.5 times in 2016 and 2.5 times in 2020.

DOGECAPITAL added that this explains why the current pullback for the Dogecoin price appears larger than the previous two cycles. However, based on history, the analyst opined that DOGE will hold around this line on the weekly timeframe, which is approximately $0.20.

Once this consolidation period is complete, the crypto analyst stated that Dogecoin is expected to move towards $1.70. This move will mirror previous cycles in which the meme coin hit the same parallel resistance level. DOGECAPITAL remarked that the second parabolic upward phase is likely to begin in the coming weeks.

DOGE’s Rally To $1 Could Happen Soon

Crypto analyst Trader Tardigrade also suggested that the Dogecoin price rally to $1 could happen soon. He noted that DOGE’s Relative Strength Index (RSI) has hit a critical level, potentially driving a massive rally. The analyst added that the next target of $1 remains unchanged.

In another X post, he revealed that Dogecoin was repeating a bullish historical pattern. In line with this, he assured market participants there is no reason to be bearish at this level. Instead, he advised them to focus on the big picture for the DOGE price.

DOGE whales look to be anticipating this Dogecoin price rally and are already accumulating more coins. Crypto analyst Ali Martinez revealed that these whales have bought 530 million DOGE in 72 hours.

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