Bitcoin maintains a price range of about $90,000, while analysts await a strong rise in its prices, a rise that will push it to six figures, approaching its previous all-time high of $109,000. Bitcoin is expected to soon reach its significantly higher all-time targets, which will also drive altcoins up. Analysts see a rise in Dogecoin as imminent and expect a new rise in Dogecoin soon.
Dogecoin pump is approaching
Promising alternative currencies, such as Dogecoin, Cardano, and XRP, are treated as old alternative assets. The altcoins that emerged since the beginning of the Web 3 revolution are assets that have existed since Bitcoin's price rise, pumping in parallel with Ethereum (ETH). While Ethereum is said to lead the momentum of altcoins, altcoins themselves tend to be more optimistic than the pumping of Ethereum.
The same is expected for this bullish cycle. Despite the delayed altcoin season, altcoins continue to show bullish signals and indicators on their price charts. In fact, some strong and effective altcoins have been showing bullish signals since 2023, well before the Bitcoin halving event in 2024. Typically, the altcoin bull season occurs in the first quarter following a year of Bitcoin halving.
However, it seems that this pattern has broken in this bullish cycle due to a long and necessary correction phase for cryptocurrencies. This change is attributed to the rapid and strong pumping of Bitcoin during this cycle, leading to a necessary correction phase. Now, after this corrective cycle has ended, both Bitcoin and altcoins are expected to pump significantly. However, the delayed altcoin season also nullifies the four-year bullish cycle pattern, prompting analysts to rely heavily on price chart signals.
One of the altcoins that shows strong bullish signals is the leading meme coin Dogecoin (DOGE). As evident from the above post, this analyst notes the emergence of a bullish pattern on the DOGE price chart. As illustrated in the image in the post, the price of DOGE has witnessed a third breakout of the descending wedge on the DOGE/BTC chart.
The analyst concludes that every previous breakout like this has always led to a significant rise in the price of DOGE, and expects this rise to continue soon. In fact, the expectations are very high for the price of DOGE during this bullish cycle, to the extent that analysts expect the price of DOGE to reach its all-time highs, which could reach one dollar or even ten dollars.