DOGE previously jumped from $0.0003 to $0.009 before a major rally.
Analysts project a rise from $0.42 to $1.46, potentially hitting $4.
Despite a daily dip, DOGE holds strong at a $23.81B market cap.
Dogecoin is once again capturing the spotlight as bullish sentiment builds around its potential for a massive breakout. As historical trends and technical trends come in synchronization, analysts are conjecturing that the meme coin might be on the verge of recording a repeat performance of its reckless past.
The market observers have targeted important areas that could boost another round of rallies, with increasing bullishness in the altcoin market. With the crypto market facing temporary downfalls, Dogecoin keeps appearing as one of the competitors in the debate regarding the following large-scale rally.
Trader Tardigrade's Bullish Forecast
According to Trader Tardigrade, Dogecoin ($DOGE) may be gearing up for a dramatic price surge reminiscent of its previous bull cycle. In a recent analysis shared on social media, Tardigrade highlights how DOGE previously skyrocketed from $0.0003 to $0.0026 and then to $0.009 before entering a parabolic rally.
This historical pattern is being used as a template to forecast the potential trajectory in the current cycle, with key price milestones of $0.42 and $1.46 potentially leading to a massive move toward the $4 mark.
The chart, displayed on a monthly timeframe (M1), outlines a technical pattern suggesting consolidation followed by exponential growth. Tardigrade notes a similar stair-step structure in the current market cycle, where $DOGE has shown accumulation behavior and breakout formations.
The projection is marked with key levels, indicating that if momentum continues to build similarly to the past, the meme coin could rally exponentially. While the forecast is speculative, it adds to the growing buzz around a possible altcoin season and DOGE’s role in it.
Price Dips but Long-Term Momentum Holds
As of June 27, Dogecoin is trading at $0.1589, marking a 0.57% decline over the past 24 hours amid a wider market cooldown. As the statistics provided by CoinMarketCap show, the daily trading volume of the meme-based cryptocurrency is now approximately equal to 757 million US dollars, which is a decrease of 14.48%, simply suggesting that the interest in it short-term investment has lowered.
Nevertheless, amid the small intraday fluctuation and the slight retracement, the total market cap of Dogecoin is still firm at 23.81 billion dollars, putting it in the ninth place on the list of cryptocurrencies. As other market participants observe, the possibility of a bullish long-term prediction could come in the form of breakout opportunities that have yet to be attained, with no max supply limit, of which the current DOGE supply shows 149.86 billion in circulation.
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