Crypto analyst Bartfil has provided insights into the next move for the Dogecoin price based on past performances. Based on his analysis, Dogecoin could witness a significant price correction before it continues its upward trend.
Where The Dogecoin Price Is Headed Next
In a TradingView post, Bartfil compared the current situation of the Dogecoin price to its price action during the previous bull market. This led to the analyst’s prediction that Dogecoin could drop to around $0.32 to $0.34. The analyst added that DOGE could then witness a strong rally to around $0.52 to $0.53.
That Dogecoin price range is the 68.8 Fibonacci level of the global swing from the peak of the previous bull market to the bottom. Once the Dogecoin price peaks, Bartfil predicts that the foremost meme coin could still experience a significant drop to around $0.25. The analyst’s accompanying chart suggested that Dogecoin could peak between now and March 2025 and then record this price drop to $0.25 in the second quarter of next year.
Crypto analyst Trader Tardigrade also predicted that the Dogecoin price could peak by March 2025 if it mirrors the 2021 bull run. However, the analyst provided a more bullish outlook for Dogecoin, stating that DOGE could reach as high as $30 by then. Meanwhile, the analyst predicted that the meme coin would reach $8 by August 2025 if it mirrors the 2017 bull run.
In the meantime, the Dogecoin price is at risk of a drop to $0.32 based on Bartfil’s analysis. Crypto analyst Kevin Capital also recently warned that Dogecoin could drop further from its current levels if it starts closing candles below a trendline, which he highlighted on the chart.
Overbought Condition Has Eased
In an X post, Trader Tardigrade said that DOGE’s Relative Strength Index (RSI) overbought condition had eased back to 50 since the Dogecoin price pullback occurred. With the overbought condition now cooling off, the crypto analyst remarked that another uptrend could happen for Dogecoin at any time now.
The analyst’s accompanying chart showed that the Dogecoin price could rally to $0.54 on its next leg up. Based on the chart’s projections, this rally could happen before the year ends. Meanwhile, in another post, the analyst reaffirmed that the Dogecoin bull cycle still has a long way to go.
The analyst revealed that the Dogecoin price was currently consolidating at a location similar to the 2021 bull run. His chart showed that this range was just before Dogecoin recorded its next leg up in that cycle. Meanwhile, Trader Tardigrade again suggested that the foremost meme coin could peak at around $34 in this market cycle.
At the time of writing, the Dogecoin price is trading at around $0.39, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
