Over the course of the last month, there have been a lot of positive forecasts made about Dogecoin, particularly in light of the recovery of the cryptocurrency market. One cryptocurrency analyst who goes by the name southofearth on TradingView has made the most recent positive prediction in this lengthy run of bullish forecasts. It is anticipated that the price of DOGE would climb higher than what was anticipated, as stated by the expert.

The Price of Dogecoin Continues to Follow Previous Patterns

The research that was published on the TradingView website illustrates the progression of the price of Dogecoin ever since it was first introduced in the year 2013. The performance of DOGE in the years preceding up to each Bitcoin halving is shown in the graphic, along with how this may help identify the time at which it will begin to rebound.

There has been a significant increase in the price of Dogecoin after each of the halvings, which suggests that this event serves as a catalyst for the meme currency to experience a positive trend. Considering that the next Bitcoin halving is anticipated to take place at some point during the month of April, the price of DOGE seems to be getting ready for yet another breakout.

Despite the fact that it is experiencing a little bit more volatility, the cryptocurrency researcher notes that the present trend that DOGE is exhibiting is comparable to the pattern that it had in the years before. However, due to the fact that it will mostly continue to follow this pattern, there is a great probability that it will continue to rise in the same manner.

In addition to this, they explain that the markets are moving at a quicker pace, and that the investment cycle of four years that investors are used to may be increasing shorter. As a result of this, the bull market starts sooner, whilst the bear market lasts for a longer period of time. In this particular scenario, the analyst is of the opinion that the price of DOGE may reach its highest point in October of 2024, rather than in 2025 as was anticipated.



On top of that, Southofearth disclosed their price projections for Dogecoin in the future, which totaled four different projections. According to the first, the price is now at $1, which seems to be the beginning of the breakout. Following the initial objective, which was set at $2, the subsequent target is positioned at 1005 on the scale.

After then, it is anticipated that there will be a further increase to $14, and then it will continue to go all the way up to $27. According to the cryptocurrency expert, the next all-time high price for DOGE is likely to be $27. This forecast is based on what has occurred to the coin in the years before to this one.

Nevertheless, this is not the end of the story; the expert was able to forecast that the price of DOGE may potentially go to $100 or more. On the other hand, in order for this to take place, there must be "hyperbitcoinization happening due to dollar index breaking down," as is explained by the expert.

In the event that the crypto expert is right, the price of DOGE might see a surge of 16,000% from this point forward. Given that the market valuation of DOGE is currently at $20 billion and that such a shift would make it greater than Ethereum, the likelihood of this occurring is very low. Therefore, the chance of this happening is quite low.

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