Dogecoin Will Rise to $30 as DOGE Repeats Same Price Action of 2021: Top Analysts

While Dogecoin has recently undergone a massive bearish attack, analysts are making bold statements about a potential recovery.

yesterday, The price of Dogecoin has fallen to $0.34 after trading in the $0.40 range earlier. While the meme has yet to recover from this decline, some market watchers are already predicting a recovery to $30.

Among those who have expressed these ambitious predictions is Trader Tardigrade on X. according to To him, the next Dogecoin pump is on the way. The basis for this perspective comes from the historical chart of Dogecoin, especially when analyzed from a weekly time frame.

Dogecoin historical patterns

In this Dogecoin price newsThe chart highlights that Doji showed a double bottom during the 2019 and 2020 down cycle. After these events, a descending channel pattern emerged, which was verified by a major breakout.

Its chart shows that Dogecoin similarly posted two bear market bottoms in 2022 and 2023, followed by a Formation of a descending channel Which led to another hack.

Another key point from the chart was the cooling off after Dogecoin’s initial speculative surge in Q1 2021. While DOGE traded at two zeros in Q4 2020, it erased one zero at the start of the new year.

Specifically, the meme coin rose from approximately $0.002452 in November 2020 to $0.08495 by February, representing a massive growth of 3,366%.

However, Dogecoin later entered a consolidation phase, trading around $0.05 for a few weeks before taking off again. Specifically, by April 2021, the trend had changed, and Dogecoin skyrocketed by 677% from $0.05529 to over $0.43 in the same month.

Dogecoin follows this pattern

Analyst Tardigrade believes that Dogecoin perfectly reflects this pattern with its sustained price action. Tardigrade predicts a shift soon for Dogecoin. Dogecoin is similarly expected to create giant green candles in the coming weeks, as seen in historical patterns.

In the scenario where Dogecoin reflects the entire 2020/2021 period, Tardigrade expects Dogecoin to rise to $30. From the current price of $0.3633, hitting $30 would represent a massive return of 8,158% for those holding Dogecoin today during this decline.

It should be noted that at $30, Dogecoin would have a market cap of over $4 trillion, which is a highly speculative scenario. However, so did other market watchers Argued for a similar price point For Dogecoin in this course.

Meanwhile, conservative estimates for Dogecoin this season include a price of $3 and a target of $8.