Despite experiencing a crash to new lows, analysts remain optimistic about the Dogecoin price outlook. Notably, Trader Tardigrade, a crypto expert on X (formerly Twitter), has predicted a surge to $2 for the Dogecoin price. The analyst cites historical price patterns that show the meme coin typically undergoes a significant pullback before a rally to new highs. 

Historical Patterns Suggest A $2 Dogecoin Price Surge

The Dogecoin price downturn may be coming to an end, as a recent analysis shared by Trader Tardigrade highlights a striking trend in the meme coin’s price action over the past few years. The analyst predicts that Dogecoin is on the verge of an explosive price rally to $2 in this bull market.

Before each of its major rallies during the previous bull cycles, the meme coin experienced a significant pullback of over 50%. This pattern, as seen on the chart, has remained consistent over the years, often preceding strong rebounds. 

Trader Tardigrade disclosed that during DOGE’s first major correction in 2016, the cryptocurrency recorded a steep decline of approximately 59.76%. After this, the meme coin rallied sharply in 2017, experiencing a rebound between the $0.013 and $0.019 price points.

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Author: Scott Matherson

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