Dogecoin Preparing for Another Big Surge, All-Time High Earnings?

Robert Novoski

The positive sentiment surrounding Dogecoin, the largest meme coin has seen significant growth, with a wave of bullish predictions from several crypto experts about its potential to experience a massive upward price movement, likely to occur. new all-time high.

The Upcoming Massive Rally Will Take Dogecoin To New All-Time Highs

Amid the recent market recovery, a crypto expert and trader with the username Javon Marks on X (formerly Twitter) did estimated that Dogecoin may be about to experience another historic price breakout, which could reach a new all-time high. The expert’s bold prediction is based on its past bull run performance, where the dog-themed meme coin experienced a massive price move to its previous all-time high.

Considering the significant climbs in the past and their similarities to previous climbs, Javon Marks believes so Dogecoin may be preparing for another big spike that could push it to new and higher price peaks.

It is worth noting that the experts’ predictions imply an increase of more than 5X of the current DOGE price, considering that the current all-time high is around 555% away located at $0.73905.

The post read:

Looking at the performance of DOGE’s (Dogecoin) previous bull run, DOGE price, with its similarities to previous gains, could be poised for another big rally to a new all-time high, and beyond. The current all-time high is almost +555% at $0.73905.

Dogecoin
Dogecoin poised for another historic move to new highs | Source: Javon Marks at X

This prediction highlights the strong optimism surrounding Dogecoin, as the meme coin is showing signs of strength after a period of price consolidation. Another analyst and crypto enthusiast, Ali Martinez did too depicted positive outlook for DOGE in the coming months.

After investigating the previous trend and the breakout of the multi-year descending triangle pattern, experts believe that the same angle may be on the verge of its next big rally. “History often repeats itself, and Dogecoin may do just that,” he said.

Historically, a breakout of a multi-year descending triangle formation is followed by a 200% spike, then a 60% retracement before the rally. Considering certain current patterns have been revealed on the charts and DOGE has retraced approximately 65%, Martinez anticipates a massive near-term rally similar to previous market cycles, potentially leading to new all-time highs.

Large DOGE Transactions Are on the Rise

This bullish forecast for Dogecoin comes amidst significant growth in network activity due to a sharp increase in the number of large DOGE transactions, such as quoted by Ali Martinez. The data shared by Martinez shows this transaction has continued to grow, showing increasing interest among whales and institutional investors.

According to the expert, the constant increase in large transactions indicates that institutional investors and DOGE Whale may be gearing up for a possible rise, as the meme coin shows an optimistic price trend.

Dogecoin
DOGE trading at $0.11 on 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com

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