A new Dogecoin price prediction has put it on another bullish path and this time, forecasting that the meme coin is destined for new all-time highs. In particular, crypto analyst @Kev_Capital_TA on X made a notable forecast regarding the meme coin that could see it finally cross the $1 market. This is entirely based on the past performance of the Dogecoin price, taking into account the average number of days it takes for each parabolic surge to materialize.
DOGE Is Due For A Surge
The crypto analyst explained that so far, the Dogecoin price has maintained an average of 1,095 days for each cycle before a parabolic surge. Naturally, with this trend holding so far, this year is expected to be no different and the Dogecoin price is expected to follow it.
Presently, though, the Dogecoin price has crossed the average number of days and the parabolic surge is yet to take place. This suggests a delay, but it does not necessarily mean that the surge will not happen soon. Rather, this could mean that the Dogecoin price is due for a surge.
DOGE has has now 1,246 days since the last parabolic surge with no bullish momentum in sight. This puts the surge more than 150 days behind schedule already. On a more bearish note, this delay 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 down as a reason this might be the case. “Yes #DOGE is 151 days behind schedule. The four year cycle is showing clear evidence of potentially being broken. Don’t attack the messenger just be grateful I am hear for you to provide such info.”
However, the crypto analyst’s chart shows what could happen if the Dogecoin price were to complete the parabolic surge this time around. From the current low price of around $0.1, DOGE could rise as high as $2.2, which would be an over 2,100% increase from here.
The average amount of days it has taken in each #Dogecoin four year cycle is 1,095 days before a parabolic surge has occurred in price. We are currently sitting at 1,246 days and price is still trending down with no parabolic surge. Yes #DOGE is 151 days behind schedule. The four… pic.twitter.com/HPOE4IruLr
— Kevin (@Kev_Capital_TA) October 5, 2024
Whales Could Push Dogecoin Price Higher
Despite the Dogecoin price not following the 4-year parabolic trend, it has not eroded bullish sentiment, especially among whales. Another crypto analyst, Ali Martinez, noted that DOGE whales have been positioning themselves for a move to the upside.
This means that the DOGE whales are still expecting a move up for the Dogecoin price. This is further strengthened by the fact that Q4 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
