- Dogecoin, after a series of crashes, is showing signs of a potential recovery, with analysts predicting a surge similar to the 500% increase seen in late 2024.
- The current chart patterns and bullish divergence suggest that Dogecoin could see significant gains, potentially surpassing $0.5 by mid-2025.
Dogecoin, the meme coin that once captured the crypto world’s attention, has been making waves again. After trading 75% below its all-time high of $0.73, the token is showing signs of a potential revival. Interestingly, this rebound seems to echo patterns from the past, suggesting that another major surge could be on the horizon.
A History of Crashes and Recoveries
The most recent downturn for Dogecoin came after several market crashes, triggered by global events like the tariff war declared by former U.S. President Donald Trump. The Dogecoin price struggled to regain momentum as the crypto market faced turbulent times. However, just as history has shown, the market’s fortunes could soon change, with a recovery that mirrors past patterns.
Recently, President Trump’s announcement to reduce tariffs on China sparked renewed optimism in the markets, and Dogecoin’s price has begun to climb once again. This shift has led some analysts to predict that a significant surge—similar to what occurred in late 2024—could be on the cards for the dog-themed cryptocurrency.
The November 2024 Surge: A Precedent for Success
Steph is Crypto, a renowned crypto analyst, recently highlighted a key similarity between the current Dogecoin price action and the market behavior of November 2024. Back then, after completing 43 bars in a downtrend lasting 129 days, Dogecoin experienced a remarkable surge. The price shot up from below $0.1 to over $0.46, culminating in a staggering 500% increase by January 2025.
Now, Dogecoin’s chart appears to be following the same pattern. The price has once again seen 43 bars during a downtrend, which could indicate that the bottom is near. If history repeats itself, we could be looking at another potential surge, with a price increase of up to 500% in the coming months.
A 600% Surge on the Horizon?
With the price already higher than it was before the November 2024 surge, the next price target for Dogecoin could push above $0.5. Based on similar patterns from 2024, analysts suggest that this surge could occur between May and July 2025. As bullish signals become clearer, investors may want to keep an eye on these crucial months for the next potential rally.
Bullish Divergence Signals a Bright Future
Other analysts, including Karan Asghar, have pointed out the reappearance of bullish divergence in the Dogecoin chart, further strengthening the case for an impending rally. This divergence last appeared between July and August 2024, leading to a consolidation phase followed by an explosive rally. A similar pattern is now forming between March and April 2025, with the possibility of another significant rise in the coming months.
With the price target hovering around $0.4, and the time frame pointing to May and June 2025, Dogecoin investors could be in for an exciting ride. If these predictions prove accurate, the meme coin might be gearing up for a new chapter in its volatile yet intriguing journey.
