DOGE’s price movements and Relative Strength Index (RSI) patterns are aligning with historical cycles, suggesting a potential peak by January 20, 2025. With impressive gains of 93x in 2017 and 300x in 2021, analysts predict that DOGE’s value could exceed $20 in a bull run expected in 2024.
The performance of DOGE against Bitcoin (BTC) is gaining attention 254 days after the most recent Bitcoin halving. A closer look at the DOGE-BTC weekly chart reveals patterns that resemble those of previous halving cycles. The RSI analysis indicates that DOGE may currently be in a pivotal phase between Step 2 and Step 3 in its cyclical behavior.
The historical RSI patterns show that in the last halving cycle, the RSI remained above its moving average for 84 days before a significant price surge, transitioning into Step 3. Recent data suggests that the RSI has followed a similar pattern, spending 84 days above the MA before dipping below. This alignment with past behavior strengthens current observations.
Examining price action, DOGE has experienced a two-week decline against BTC, followed by sideways consolidation. This behavior is consistent with historical patterns, where a 77-day interval between a local top and the next peak has been identified. Based on this framework, analysts predict that the next significant peak for DOGE-BTC could occur around January 20, 2025.
Analysts also anticipate a potential bull run for DOGE in 2024, with projections indicating gains exceeding 300x and a trading value surpassing $20. Javon Marks’s chart shows that the 2017 cycle saw a significant increase of 93x, while the 2021 cycle recorded a remarkable 300x price surge. The 2024 projection suggests that DOGE is on track for another substantial upward movement.
In conclusion, the analysis of DOGE’s RSI patterns, price action trends, and historical cycles point towards a potential peak by January 20, 2025. With projections of gains exceeding 300x in a bull run expected in 2024, DOGE’s trading value could surpass $20. Investors and traders are closely monitoring these developments to make informed decisions regarding their DOGE holdings.
