The Dogecoin price action has returned into a bullish trend in the past 24 hours after spending the majority of the past seven days on a correction path. Particularly, the Dogecoin price is currently up by about 4.5% in the past 24 hours.
According to crypto analyst Master Kenobi, Dogecoin’s market movement appears to be mirroring past cycles but with a significant twist; events are unfolding two months ahead of schedule. His insights, shared on social media platform X, predicted that the Dogecoin price is on its way to new heights up to the $2.9 mark.
Early Start For The Dogecoin Price Cycle In 2024
In his analysis, Master Kenobi noted that this year’s cycle began on September 2, 2024, compared to the November 3, 2020 start of the previous one. This two-month lead has seemingly influenced how price action and key breakout patterns have changed compared to the previous cycle. Nonetheless, he emphasizes that the movement so far aligns with the long-range predictions he has developed over the past year and a half.
His analysis draws attention to Dogecoin’s history of massive breakouts, particularly during its past cycles when it surged from its established green trendline to touch higher orange trendlines shown in the chart below. According to Kenobi, this historical precedent reinforces the belief that a new Dogecoin price all-time high (ATH) could be reached in the next two weeks.
The Bullish Targets: $1.08, $2.90, Or Somewhere In Between
Kenobi’s DOGE chart highlights two key price targets for the Dogecoin price this cycle
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Author: Scott Matherson
