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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Weekly Chart Shows Bitcoin-Like Movements That Could Trigger Massive Rally

Scott Matherson
Scott Matherson
3 hours ago
3 mins read
Dogecoin

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Crypto analyst DOGECAPITAL has highlighted a Bitcoin-like pattern on the Dogecoin chart, which could trigger a parabolic rally. Based on his analysis, this rally could send the DOGE price above $10, marking a new all-time high (ATH) for the top meme coin. 

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The Bitcoin Historical Pattern Which Could Send Dogecoin Above $10

In an X post, DOGECAPITAL predicted that the Dogecoin price could rally above $10. He alluded to the weekly chart and compared the historical price cycles of Bitcoin and DOGE, while pointing out what tends to happen when BTC closes a weekly candle at all-time highs (ATHs). In the first cycle, which was in 2017, DOGE surged and achieved a 94x gain in the following months after BTC closed the week at its ATH. 

In the second cycle, which was in 2020, Dogecoin witnessed a more explosive 190x rally in the following months after Bitcoin closed the week at new all-time highs. Meanwhile, again in the third cycle this year, BTC is currently trading around its ATHs. However, it needs to confirm a weekly close above this level to validate a DOGE breakout. 

Based on history, DOGECAPITAL noted that this could set the stage for Dogecoin to “dramatically” outperform Bitcoin again. DOGE could also surpass its gains in previous cycles. The analyst’s accompanying chart showed that the meme coin could even rally to as high as $69 on this explosive move. 

Dogecoin is currently trading at $0.22. Chart: TradingView

The analyst urged market participants to watch the weekly close as the last two times Bitcoin confirmed new highs, Dogecoin didn’t just surge but “launched.” In the short term, crypto analyst Ali Martinez indicated that the foremost meme coin could rally to $0.31. In an X post, he stated that DOGE appears to be breaking out of a bull pennant, which points to this target. 

DOGE’s Uptrend Is Still Strong

In an X post, crypto analyst Trader Tardigrade stated that Dogecoin’s uptrend remains pretty much solid. His accompanying chart showed that the meme coin still has enough room to rally to the much-anticipated $1 price level. In another analysis, the analyst stated that DOGE will likely break the recent high at $0.25. 

Meanwhile, crypto analyst Master Kenobi stated that his short-term roadmap for Dogecoin is going according to plan so far. His chart showed that he expects the meme coin to consolidate in this range for 17 days before it then breaks out and rallies to $0.75 sometime in June. This will mark a new ATH for the DOGE price, with its current all-time high at $0.73. 

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At the time of writing, the Dogecoin price is trading at around $0.2286, down over 6% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Unsplash, chart from TradingView

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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