#CryptoAdoption Dogecoin at a crossroads, a surge of 500% or a drop of 40%?

This week, Dogecoin investors received mixed signals following the release of market analysts' forecasts regarding the future price dynamics of this meme cryptocurrency. Some predict an impressive rally, while others expect a sharp decline before any potential growth.

Crypto commentator Steph is Crypto believes that Dogecoin is ready for a significant price increase exceeding 500%. This forecast is based on a chart pattern observed before the previous market cycle, during which Dogecoin rose by 501% after a downward trend in the preceding weeks.

"Signal of a bottom," Steph wrote on social media X, implying that a similar pattern is forming again after another 129-day downward trend. If this trend continues, Dogecoin could rise to $0.73583 within the next few weeks.