The post Top Analyst Says Dogecoin Set for $4 Rally After Completing Major 58% Correction appeared on BitcoinEthereumNews.com.
Multiple analysts argue Dogecoin is poised to begin its next leg up as historical corrections align once more. Dogecoin has seen a notable price movement, surging over 6% following President Donald Trump’s decision to halt tariffs on Canada and Mexico. Despite this recovery, Dogecoin still trades with a significant 21% discount from its weekly highs. At press time, Dogecoin is changing hands at $0.2623. Amid the recent fluctuation and resurgence, analysts are closely monitoring Dogecoin’s price movements, with a focus on its historical bull cycles. A recent analysis by an X user, Kevin, highlights a comparison between Dogecoin’s recent correction and one from the previous cycle. Specifically, Kevin argued that Dogecoin has completed its second major cycle dip, setting the stage for a major rebound. Dogecoin Historical Patterns Aligning with Promising Upside The previous bull cycle from 2020 to 2021 experienced two major corrections before an upward surge. Similarly, per Kevin, the current bull cycle from 2023 to 2025 appears to be following a similar pattern. The first major correction in the previous cycle saw a 56% drop, whereas the current cycle recorded a steeper 65% decline, falling by $0.15029 from local highs. Notably, this occurred between March and September 2024. Meanwhile, the second major correction in the previous cycle registered a 56.8% drop. In the current cycle, Dogecon’s second major pullback, the most recent case, saw a 58.18% decline, plummeting by $0.28104 from local highs. These similarities suggest that Dogecoin’s trajectory could mirror past price movements. The analyst indicated that Dogecoin could see a strong recovery if all goes well with Bitcoin. Notably, he has set his sight at lofty heights, around the $4 price for Dogecoin. Dogecoin chart by analyst Kelvin Views of Other Market Watchers For Dogecoin Rebound Further, another market observer, using the pseudonym Wizz, shared…