As the overall cryptocurrency market experiences a revival, assets such as Dogecointhe leading meme coin is drawing strong optimism in the industry as positive predictions about the coin’s near-term potential increase.
Dogecoin’s Path to Big Profits in 2025
With the renewed optimism seen in Dogecoin’s price movement, Dima James Potts, a crypto expert and trader who has been weighing in on the recent movement, predicted a historic surge for DOGE, with the biggest price increase predicted as the dog-themed meme coin approaches 2025.
Drawing attention to his chart, Dima James Potts pointed out an intersection of green and red lines that often leads to a series of green weeks almost immediately after the cross. “While history doesn’t always repeat itself exactly, it often rhymes,” the analyst added.
According to the expert, this bullish intersection happened again in the first week of September, and as a result, Potts is looking forward to many green days and weeks. While James Potts expects positive weeks, he also expects major withdrawals coincide with notable upward movements as seen in previous cycles.
He further noted that from Cycle 1 to Cycle 2, there is a growing consolidation period in each cycle, and the upward movement of Dogecoin is becoming more intense each period. Meanwhile, Cycle 3, which is the current cycle proven to be the longest so far.
Given this trend, the expert is confident that the same angle‘s potential, as he predicts that DOGE will see its most significant rise next year. Given Dogecoin’s long-term performance, this prediction could spark renewed interest from investors, both old and new.
Potts’ analysis is consistent with that of Master Kenobi, who also marked 3 Major Cycles for DOGE. Kenobi highlighted that 3 major downtrend cycles formed the token’s bear market before a rally. The analyst claims that the first cycle lasted 540 days, or about 1.5 years, while the second cycle lasted 364 days, or exactly 1 year.
The third decline cycle, which lasted about 182 days, or half a year, is now coming to an end. Overall, Kenobi says, this pattern could indicate that the bears are preparing to hibernate somewhere in a matrix.
DOGE in the spotlight
Dogecoin is currently showing a healthy performance after surging from $0.089 to the $0.104 level. The price increase is believed to be driven by the recent endorsement of DOGE by the owner of the X platform and the world’s richest man, Elon Musk.
Monday, Musk responded to a post by a DOGE enthusiast, DogeDesigner, who said that “our official mascot will of course be the Doge.” This single tweet from Musk sparked interest in Dogecoin, which attracted many investors, resulting in a price increase.
Now that the market is recovering, Musk is backing DOGE is being closely watched by investors and traders due to an earlier scenario in 2021 in which the billionaire’s support for the meme coin coincided with its biggest price increase.
Main image from Unsplash, chart from Tradingview.com