Amid the market downtrend, prominent crypto analyst DOGECAPITAL has offered insights on why the anticipated Dogecoin price rally to $10 remains plausible. The analyst has highlighted a series of developments reinforcing this optimistic perspective on the leading meme coin.
Why The Dogecoin Price Can Still Rally To $10
In a recent X post, DOGECAPITAL articulated his confidence in the imminent price surge of Dogecoin, potentially exceeding $10 in this market cycle. He pointed to DOGE’s daily chart, noting that an indicator depicted at the top of his accompanying chart has a proven track record of identifying Dogecoin’s cycle tops, as evidenced by the red vertical lines marking the “never miss zone” on the wave indicator.
Additionally, the crypto analyst remarked that this indicator is consistent with the 1442-day theory, which suggests that Dogecoin culminates each cycle by reaching its peak in the fourth year. He further added that the parallel channel theory has accurately predicted the ending of previous cycles, corresponding with the line just above the red line in the 2017 and 2021 cycles.
Currently, Dogecoin has been experiencing a downtrend, having decreased from its local high of approximately $0.46 in December 2024 to the $0.20 range. Nevertheless, DOGECAPITAL suggests that this decline is not atypical. Historically, the leading meme coin has reached such levels before embarking on phase two of its parabolic upward trajectory.
According to the analyst, phase two traditionally peaks when the price touches the same parallel line, as depicted in his chart showing the lower boundary positioned at a target of $4. He anticipates that Dogecoin will replicate this pattern, leading to a substantial correction following phase two, akin to prior cycles, before transitioning into phase three—the final stage of the cycle.
DOGE Can Reach As High As $45 In Phase 3
DOGECAPITAL predicts that Dogecoin could soar as high as $45 during phase three of the bull cycle. He noted that in this phase, the peak price of each cycle typically reaches a level just above the parallel line, which signifies the exact top of the cycle. This line is projected to be at $45 and is expected to rise gradually over time.
The analyst further asserted that should history repeat itself, the timing for Dogecoin to hit this line will be pivotal in determining when this cycle’s final peak materializes. DOGECAPITAL anticipates that Dogecoin will either match or even surpass its previous fourth-cycle performances, bolstered by technological advancements, rising global adoption, and increasing institutional interest.
As of this writing, Dogecoin is trading around $0.21, having declined over 9% within the last 24 hours, according to data from CoinMarketCap.
