Interest in Dogecoin appears to be rising once again with the meme coin demonstrating the potential for another notable price upswing, capturing the attention of investors and crypto enthusiasts as they anticipate a massive run-up to a new all-time high in the ongoing market cycle.

Dogecoin To Hit A New Peak In The Next Parabolic Run?

As Dogecoin gears up for another leg up, Trader Tardigrade, a market expert and crypto content creator, has forecasted an impending price surge for DOGE that could push the crypto asset to a new all-time high, sparking optimism within the community about its capacity in the short term.

Trader Tardigrade’s bold prediction shared on the X (formerly Twitter) platform implies that DOGE’s next rally could see the meme coin surpass its previous peaks, considering indicators and price trends seen in previous market cycles. It is worth noting that the market analyst anticipates an uptick due to DOGE reaching key Fibonacci ranges, paving the way for a rocket-like price rally.

According to Trader Tardigrade, Dogecoin has currently moved into the Fibonacci range between 0.618 and 0.88, a zone where DOGE entered a consolidation phase for several weeks as a stage station during the 2018 to 2021 market cycle.

In the event that Dogecoin breaks out from the zone, the analyst is confident that the meme coin is “bound for a rocket ride” to a new all-time high, reflecting the crypto asset’s resiliency over past cycles. Meanwhile, he claims that the present price peak is merely the first station, noting that DOGE still has a long way to go.

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Author: Godspower Owie