So far in history, the Dogecoin price has seen two major price rallies that have led the meme coin to reach brand new all-time highs. Given this trend, the expectations are that the cryptocurrency could be getting ready for another rally like the last two bear markets. Even though the year 2025 is about to come to an end and there has been no such rally in sight, it has not dimmed bullishness among investors.
Analyst Predicts 3rd Wave For Dogecoin Price
Pseudonymous crypto analyst EtherNaysyonal shared an analysis with the Dogecoin community that shows where they expect the DOGE price to be headed next. This analysis focuses on the sudden explosive bull runs that have happened in the Dogecoin lifetime, predicting the next one that could send the meme coin toward new all-time highs.
Related Reading
Highlighting the previous performances, the crypto analyst shows how the Dogecoin price has consolidated for a long time before reaching an end in 2017. Once this bottom was established, the price saw an over 7,000% increase, rising from below $0.00028 to over $0.02 before the bear market began in 2018.
Next came another long consolidation trend that spanned years before ending in 2021. Just like the performance in 2021, the end case for the 2021 rally was similar, which was an explosive rally. The Dogecoin price increased from below $0.0028 to over $0.7, registering an over 30,000% increase by the time the run was completed.
Pointing to these previous performances, the analyst believes that Dogecoin may be on the verge of another major run. If the price sees a similar bounce, then the analyst believes that the meme coin’s price will cross $1. By the time it’s done, it could see an over 1,200% increase, causing the price to reach $2.2 before the momentum fades.
The Evolution Of DOGE
The analysis comes in response to a previous post that EtherNaysyonal had made, showing how Dogecoin has managed to evolve from a joke into a serious cryptocurrency. They explain that the existence of DOGE shows that money doesn’t always have to be serious.
Related Reading
Despite starting out as a joke, though, Dogecoin has since grown beyond that and has seen some major developments that solidified its position in the market. Just like Bitcoin, Ethereum, Solana, and XRP, Dogecoin is one of the few cryptocurrencies out of millions to be used as a reserve currency by companies.
There have also been several ETF filings for Dogecoin as it is being moved into the mainstream for institutional participation. DOGE has also been incorporated into the likes of Tesla as a payment method for merchandise, expanding its reach.
Featured image created with Dall.E, chart from Tradingview.com
Credit: Source link
