Despite its notable gains throughout this year, the Dogecoin price has yet to break above its all-time high in 2021, but analysts continue to remain bullish. Interestingly, recent analyses from crypto analysts have compared the Dogecoin price action to that of the XRP price rally, with the general consensus being new all-time highs for both cryptocurrencies in the coming months. A notable observation by crypto analyst, ProfessorAstrones, has added intrigue to this discussion, as he links XRP’s market movements to a rally in Dogecoin’s price.

Dogecoin Price Action Mirrors XRP’s Rally Dynamics

ProfessorAstrones, a pseudonymous crypto analyst, shared his perspective on social media platform X, noting that XRP’s market liquidity could flow into Dogecoin and drive its price to new heights. According to the DOGEUSDT 4-hour chart that accompanied his analysis, Dogecoin’s current price movement is defined by a tightening range formed by a descending trendline and an ascending trendline. Interestingly, this chart structure resembles that of the flag of a bullish pennant, which often signifies an upward breakout is close.

According to him, the Dogecoin price is still on track to reach a closer target of $1 and long-term targets of $3 and $5 by 2025. All these are bullish targets, and attaining even the $1 would necessitate a break above the current all-time high of $0.7316. Interestingly, his Dogecoin price outlook is also based off of a projection rotation of liquidity in the crypto market.

Specifically, he predicted a scenario where capital that has fueled XRP’s price rally will eventually flow into Dogecoin. “$XRP money will flow into $DOGE,” the analyst said. 

What this basically means is that as XRP investors start taking p

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Author: Scott Matherson