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As Dogecoin ( DOGE ) struggles with short-term bearish sentiments, historical price movements and technical indicators suggest the top meme coin might be poised for another parabolic rally. This outlook comes from renowned cryptocurrency trading expert Ali Martinez, who drew parallels between Dogecoin’s 2017 and 2021 movements, hinting at explosive growth after significant retracements, as shared in an X post on December 23. Back in 2017, Dogecoin surged 212%, followed by a 40% retracement, before embarking on a 5,000% rally. Similarly, in 2021, DOGE climbed 476%, retraced by 56%, and soared by 12,000% to reach its all-time high. Dogecoin price analysis chart. Source: TradigView/Ali_charts The same pattern appears to be replicating in 2024, with the meme coin surging 440% before undergoing a 46% retracement, closely mirroring its previous cycles. According to Martinez’s analysis, this setup could signal the beginning of another parabolic move for Dogecoin. “Now, in 2024, DOGE is up 440% and has retraced by 46%. If history repeats, another parabolic rally is on the way,” Martinez said. Indeed, Dogecoin’s price has been confined within an ascending channel, a pattern often preceding major rallies. A breakout above the channel could signal a bullish reversal and trigger a parabolic rally. DOGE’s $0.70 price target In another X post on December 21, cryptocurrency trading analyst Javon Marks also highlighted that historical patterns could hint at another DOGE rally. The analyst noted the recent pullback mirrors price movements from 2020, when DOGE broke through descending resistance patterns, consolidated briefly, and surged over 122%, achieving more than double gains. Dogecoin price analysis chart. Source: TradigView The anticipated target for this rally is $0.73905, suggesting Dogecoin could revisit and surpass its all-time high. Besides the technical setup, Dogecoin’s potential to rally is also guided by fundamental factors, with Tesla (NASDAQ: TSLA ) CEO Elon Musk’s influence remaining a key element. Musk’s commentary on Dogecoin has been influential, and the possibility of a rally could coincide with his official appointment as the head of the Department of Government Efficiency (DOGE) in January 2025. Additionally, DOGE has recently seen an increase in whale accumulation , reinforcing confidence in the asset. Historically, such transactions have preceded major price rallies. DOGE price analysis At press time, DOGE was valued at $0.31, showing weakness on the daily and weekly timeframes, dropping 0.40% and 21%, respectively. DOGE seven-day price chart. Source: Finbold Amid the current correction, Dogecoin’s technical setup suggests a possible downside in the short term. The coin is trading below its 50-day simple moving average ( SMA ) of $0.360157, reinforcing bearish momentum. DOGE remains above its 200-day SMA, which is at $0.178915, indicating that the long-term trend may still hold bullish undertones. Interestingly, the Fear & Greed Index reflects a reading of 73, firmly in the “Greed” zone, hinting at strong market interest despite prevailing negative sentiment. In summary, as DOGE faces short-term weakness, historical patterns suggest Dogecoin could be on the verge of another explosive rally, eyeing a breakout toward the $1 mark. Featured image via Shutterstock The post Another Dogecoin (DOGE) ‘parabolic rally is on the way,’ says expert appeared first on Finbold .
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Charles Hoskinson Talked About Bitcoin (BTC), Cardano (ADA) and XRP!
Having made a major breakthrough in the recent rally, Cardano (ADA) continues to attract the market`s attention. At this point, while it is wondered whether ADA will continue its rally, popular analyst Ali Martinez said that there is $6 for Cardano. At this point, the analyst noted that ADA is similar to the cycle in 2020, saying that he believes ADA could surpass its $3.09 ATH in 2021 and reach a new high of $6. 2025 Will Be the Year of Cardano (ADA)! In addition, Cardano founder Charles Hoskinson claimed that Cardano has similarities with XRP and Bitcoin. Speaking during a live broadcast, Hoskinson stated that Bitcoin, Cardano and XRP have a bright future, saying that the networks are strong and have overcome many obstacles and difficulties. “XRP, Cardano and Bitcoin have a bright future.” Stating that Bitcoin, Cardano and XRP have overcome obstacles and difficulties, Hoskinson emphasized that untested projects often collapse when faced with obstacles, and said that the best examples of this are Terra (LUNA) and FTX. Charles Hoskinson also noted that Cardano could have more partnership opportunities than ever in 2025. Hoskinson particularly highlighted the network’s recent partnership with Bitcoin smart contract and interoperability solution provider BitcoinOS. Finally, Hoskinson emphasized that the network is determined to reveal itself in 2025 and added that Cardano will participate in leading crypto conferences such as Bitcoin 2025, Token 2049, Paris Blockchain Week and Consensus 2025. “Cardano will move forward loud and proud in 2025.” *This is not investment advice. Continue Reading: Charles Hoskinson Talked About Bitcoin (BTC), Cardano (ADA) and XRP! Finbold
Why is the XRP Price Down Today? (Ripple Price Analysis)
Ripple is navigating a pivotal range between $1.8 and $3, with recent price action highlighting the likelihood of a consolidation phase. A breakout from this range will likely determine its next significant trend. XRP Price Analysis By Shayan The Daily Chart XRP recently faced rejection at the critical $3 resistance, triggering increased volatility and initiating a sideways consolidation phase. After that, the price found support at the $1.8 level, a key zone filled with demand and buying pressure. This support region can limit further downward movement and maintain the cryptocurrency within the $1.8-$3 range. As the price consolidates, a bullish or bearish breakout will determine Ripple’s upcoming trajectory. While this could lead to a sustained uptrend, an unexpected bearish breakdown might trigger a significant liquidation event, causing the price to plummet toward lower levels. Source: TradingView The 4-Hour Chart During the 4-hour timeframe, XRP consolidates within a descending wedge pattern, which often signals a potential bullish breakout if breached upward. Currently, the price is testing the wedge’s lower boundary near the $1.8 support level, where increased buying activity is expected. In the mid-term, Ripple seems likely to continue fluctuating within this pattern, with a bullish breakout aiming to reclaim higher levels near $3. Conversely, a bearish breakdown below the wedge’s lower boundary could initiate a decline, potentially driving the price toward the $1.5 threshold, a crucial support level. Source: TradingView The post Why is the XRP Price Down Today? (Ripple Price Analysis) appeared first on CryptoPotato . Finbold
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