Analyst Olivier has indicated that the Dogecoin price could be only a few weeks away from a new all-time high (ATH). The analyst further revealed what must happen between now and then so the meme coin could surpass its current ATH of $0.73.
Dogecoin Price Could Hit New ATH If This Happens
In an X post, Olivier mentioned that the Dogecoin price will only be a few weeks from a new ATH once it breaks above $0.23. The analyst’s accompanying chart showed that the foremost meme would rally to a temporary ATH at $1.6. Once that is done, the chart indicates that Dogecoin will rally further to $3.7.
However, based on Olivier’s chart, this $3.7 target won’t mark the top for the Dogecoin price as the meme coin is still likely to rise to as high as $32. The analyst predicts the Dogecoin rally to this $32 price target will happen sometime in May 2025. Interestingly, this ultra-bullish prediction comes just after crypto analyst Ali Martinez predicted that the foremost meme coin could rise to as high as $23 in this market cycle.
Martinez suggested that the world’s richest man, Elon Musk, could contribute to this Dogecoin price rally since he now influences US president-elect Donald Trump. Musk has already proposed the Department of Government Efficiency (D.O.G.E) under the Trump administration, which is expected to draw more DOGE.
In his most recent DOGE analysis, Martinez also provided an update on the Dogecoin price action. He said that Dogecoin is currently consolidating within a descending triangle on the lower time frames. The analyst added that a break above the $0.198 resistance could spark a 10% rally to $0.220.
The DOGE Bull Rally Is On
In a recent X post, crypto analyst Trader Tardigrade again affirmed that the Dogecoin price bull rally has already begun. He explained that in Gaussian Channel analysis, DOGE follows this pattern. First, it attempts to leave the channel but fails, sending it back to the channel, supported by the mid-band. Dogecoin again makes another attempt and then finally exits the channel, leading to the start of the bull rally.
Trader Tardigrade confirmed that the Dogecoin price has left the channel and has commenced its bull rally. The analyst’s accompanying chart showed that Dogecoin could at least rise to $6 in this market cycle. He also recently suggested a $10 target was possible while revealing that the Dogecoin price had repeated a falling wedge pattern from 2021. Crypto analyst Dima James has also predicted that DOGE can reach $10 in this bull run.
At the time of writing, the Dogecoin price is trading at around $0.19, up in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
