Dogecoin (DOGE), the meme-inspired cryptocurrency, is showing signs of renewed potential following a market sell-off.
Currently trading at $0.337, DOGE has gained 1.96% in the last 24 hours despite a slight 0.65% dip over the past week.
Crypto analyst Trader Tardigrade believes Dogecoin could hit $2 by 2025 and $8 by 2028, pointing to historical cycles and strong technical indicators.
Historical Cycles
Dogecoin’s historical price movements within a recurring rising channel are central to Trader Tardigrade’s bullish projection. By examining past trends, the analyst highlights how DOGE has historically surged following significant accumulation phases.
For instance, in 2017, Dogecoin skyrocketed from $0.00015 to $0.038, marking a dramatic rise. The analyst notes that DOGE’s current price action mirrors this historical pattern, supporting a projected peak of $2 by 2025 and $8 by 2028.
While these targets are more conservative than earlier forecasts of $30, they reflect a realistic outlook based on recurring price behavior.
Dogecoin Key Levels
| Year | Price Target | Historical Context |
|---|---|---|
| 2025 | $2 | Mid-cycle peak |
| 2028 | $8 | Long-term historical channel |
Technical Insights
Trader Tardigrade emphasizes that Dogecoin’s recent retracement is not a cause for concern but rather a bullish retest of critical levels.
After breaking out of an ascending triangle pattern on January 3, DOGE surged to $0.3989 before retracing to test the triangle’s apex at $0.3435.
This behavior suggests that the retracement is part of a consolidation phase, setting the stage for a continuation of the upward trajectory.
The analyst also predicts that Dogecoin could surpass its previous all-time high of $0.7488 in the medium term, aiming for levels near $0.95.
Whale Activity
Adding to the optimism, data from IntoTheBlock reveals substantial accumulation by large holders. Over the last 90 days, cumulative inflows have risen by 3,722%, indicating that whales are actively acquiring DOGE.
Large Holder Activity
| Timeframe | Cumulative Inflows Growth |
|---|---|
| 90 Days | 3,722% |
| 30 Days | 323% |
| 7 Days | 5.33% |
This accumulation trend reduces the circulating supply, which often leads to upward price pressure over time.
Dogecoin’s long-term potential remains strong, bolstered by historical cycles, technical patterns, and whale activity.
The projections of $2 by 2025 and $8 by 2028 reflect a steady growth path, though market volatility and broader crypto trends will play a critical role.
For investors, the current consolidation phase may present an attractive buying opportunity as Dogecoin gears up for its next big move.
