The Dogecoin price is replicating a bullish fractal from 2021, signaling the potential for a price breakout to new highs. A crypto analyst has shared a price chart comparing this historically recurring fractal to Dogecoin’s current trajectory, predicting a massive surge to new all-time highs by January.
Historical Fractal To Trigger Dogecoin Price Rally Above $4
In an X (formerly Twitter) post on Wednesday, Trader Tardigrade, a prominent crypto trader and analyst, predicted that Dogecoin, the number one meme coin, could record an explosive price rally beyond $4 by January 2025. The analyst announced that Dogecoin is repeating a crucial fractal observed during its huge price pump in the 2021 bull run.
He presented two parallel charts comparing Dogecoin’s movements between 2020 and 2021 and that of 2024. The right side of the chart shows Dogecoin’s price action in 2020, which led to a massive spike in January 2021.
Before this significant price surge, Dogecoin underwent a series of consolidation patterns. The blue triangle in the chart indicates a local peak, the green curve highlights a price recovery after a dip, and the orange arc represents a period of gradual consolidation.
These distinctive price movements culminated in a sharp breakout for Dogecoin, allowing it to skyrocket past $0.065 in January 2021.
Based on Trader Tardigrade’s analysis, Dogecoin is repeating this bullish setup, with the same consolidating patterns appearing on its price chart. The blue triangle on the left side of the chart shows that Dogecoin has already formed an initial peak. Additionally, the green curve highlights a price recovery, and the orange arc signals a rounding consolidation pattern.
If these bullish fractals hold, Dogecoin could mirror its previous price action and experience a strong rally similar to the 2021 pump. Consequently, the analyst labeled January “the big bang month,” emphasizing its importance during this bull market. Trader Tardigrade predicts that if Dogecoin repeats the historical fractal, it could trigger a surge strong enough to propel the meme coin’s price above $4.
Analyst Predicts 570% Surge For Dogecoin
Crypto analyst Javon Marks has also predicted a massive bull rally for Dogecoin, emphasizing the importance of historically repeating patterns in determining the meme coin’s future trajectory. The analyst shared a chart outlining Dogecoin’s price behavior across three distinct cycles — Cycle 1, Cycle 2, and Cycle 3.
Each cycle follows a similar consolidation pattern within a descending triangle, followed by a breakout that leads to a substantial price rally. Dogecoin surpassed the 1.618 Fibonacci Extension level during each cycle after successfully replicating the historical consolidation patterns.
Based on this analysis, the current Dogecoin price action in Cycle 3 aligns with the recurring pattern. If this trend persists, Marks forecasts that Dogecoin could experience a massive surge of over 570%, potentially reaching $2.28 or higher.
Featured image created with Dall.E, chart from Tradingview.com