A new one Dogecoin Price Prediction has put it on another bullish path and this time it predicts that the meme coin is destined for new all-time highs. In particular, crypto analyst @Kev_Capital_TA on This is completely based on the past performance of the Dogecoin pricetaking into account the average number of days it takes for each parabolic wave to manifest.
DOGE is ready for a wave
The crypto analyst explained that the Dogecoin price has maintained an average of 1,095 days for each cycle so far before a parabolic wave. Naturally, given this trend so far, this year is expected to be no different and the Dogecoin price is expected to follow suit.
However, currently the Dogecoin price has exceeded the average number of days parabolic wave has yet to take place. This signals a slowdown, but doesn’t necessarily mean the rise won’t happen soon. Rather, this could mean that the Dogecoin price is in for a rise.
DOGE has now reached 1,246 days since the last parabolic wave and no bullish momentum in sight. As a result, the wave is already more than 150 days behind schedule. On a more bearish note, this slowdown could mean that the Dogecoin price is finally breaking away from this trend.
The crypto analyst points to the fact that DOGE is behind schedule and still trending downward as a reason why this could be the case. “Yes #DOGE is 151 days behind schedule. The four-year cycle shows clear signs that it may be broken. Don’t attack the messenger, but be grateful to hear you provide such information.
However, the crypto analyst’s chart shows what could happen if the Dogecoin price were to complete the parabolic rise this time. From the current low price of around $0.1, DOGE could rise to $2.2, which would be an increase of over 2,100% from here.
The average number of days it took in each #Dogecoin The four-year cycle takes 1,095 days for a parabolic price increase to occur. We are currently at 1,246 days and the price is still falling without a parabolic increase. Yes #DOGE is 151 days behind schedule. The four… pic.twitter.com/HPOE4IruLr
— Kevin (@Kev_Capital_TA) October 5, 2024
Whales could push the Dogecoin price higher
Despite the Dogecoin price not following the four-year parabolic trend, this has not eroded bullish sentiment, especially among whales. Another crypto analyst, Ali Martinez, noted that DOGE whales have positioned themselves for a step up.
This means that the DOGE whales are still expecting a rise for the Dogecoin price. This is further reinforced by the fact that the fourth quarter of 2024 is expected to be bullish for the crypto market. If the Bitcoin price continues to rise, so will the Dogecoin price.
Featured image created with Dall.E, chart from Tradingview.com