The Historical Performance That Says Dogecoin Price Will Hit $11.71 By End Of Year

Historically, the Dogecoin price has recorded some of the most legendary rallies in the crypto space. Over the last couple of bull markets, the meme coin seems to have started a trend of outperforming its previous cycle’s performance, notching way more gains than anyone expected. Following this trend, the Dogecoin price is once again approaching a point where it could initiate another rally, and this time around, a crypto analyst predicts that it will reach double-digit values.The Anatomy Of The Historical BreakoutCrypto analyst Dima Potts has predicted a possible 37x rally for the Dogecoin price this bull cycle. This forecast is gleaned from the previous cycle performances of the meme coin, with each one registering higher gains than the previous bull market.Mainly, each rally has been triggered when the Dogecoin price has broken out of a descending trendline, highlighted in yellow in the chart below, that begins from the top of the last cycle. This was the case back in 2017, and a repeat of this same breakout in 2021 solidified the trend for the meme coin.After the first breakout was completed back in 2017, the price would rise sharply over the next few months. By the time the bull market was drawing to a close in 2018, the Dogecoin price had completed an 83x rally, rising from below $0.0004 to above $0.0014.The descending trendline began once again with the top in 2018, spanning over two years again before breaking out in 2021. Once the breakout was confirmed in 2021, just like it did in 2017, it triggered a multi-month Dogecoin price rally, and before the end of the year, the price rose a cumulative 183x, moving from under $0.004 to over $0.7.Why The Dogecoin Price Can Rally Above $11Using this established trend, Dima Potts has outlined how the Dogecoin price could follow the same path. Right now, the altcoin is nearing the completion of the descending trendline, and the only thing that remains is a breakout. The main level of interest lies at $0.4,1, and the analyst believes that if the Dogecoin price closes a week above this level, then the trend would be confirmed.In the most bullish scenario, the price would follow the trend of each cycle’s explosion being higher than the last, suggesting a possible 283x return. However, the crypto analyst takes a more conservative stance, predicting that a 37x rally from the price at which Dogecoin started 2025is likely. This would put the price at $11.71, given that Dogecoin started the year with a price of $0.31.Weiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC