A Prominent Market Analyst Predicts Stupendous Price Pump for Dogecoin

Market expert Dima Potts made a lofty prediction in a post on February 23, suggesting that Dogecoin, the largest meme coin by market cap, could see an incredible 19,533% uptrend.

For this price surge to occur, Dogecoin must regain its bullish momentum, as it has retraced over 52% from its December high of $0.4846 amid a broader market correction. The token has faced significant price declines in five of the last six weeks. Despite these challenges, Potts remains hopeful that DOGE will rebound and reach at least $10 this cycle.

Dogecoin Eyes Rebound from ‘Never Miss Zone’

Potts noted that Dogecoin’s recent price activity has brought it closer to the “never miss zone,” a historical support area. The token has previously rebounded from this level after consolidation during the 2017 and 2021 cycles. The wave-like indicator aligns with Dogecoin’s cyclical pattern of 1,442 days, showing that it has completed each cycle in 206 weeks, with the last concluding on May 7, 2021.

With the current cycle already 1,388 days in, Potts anticipated that Dogecoin would soon enter the second phase of its cyclical parabolic expansion. He suggested the potential for an almost 1,636% surge approaching $4.

$45: Dogecoin’s Ultimate Target

After the second phase pump, Potts speculated there would be a brief retracement before a final push toward the cycle’s ultimate target price of $45. He highlighted that DOGE has consistently crossed a significant red vertical line during previous cycles and expects this pattern to continue.

Potts emphasized that the timing of Dogecoin reaching this red line will determine when the cycle peaks. He believes the leading meme coin is likely to follow or exceed historical patterns, aided by technological advancements, growing adoption, and emerging institutional interest.

Technical analysis suggests a probable rebound; however, on-chain metrics raise concerns. Whale activities in the Dogecoin ecosystem have hit new lows, with only 66 large transactions and 60,000 active addresses daily. A correction in whale activity is needed to support a near-term price increase.

Currently, DOGE trades at $0.2325, down over 4% in the last 24 hours.