Amid the market downtrend, crypto analyst DOGECAPITAL has explained why the projected Dogecoin price rally to $10 is still in the works. The analyst outlined several developments that confirm this bullish outlook for the foremost meme coin.
Why The Dogecoin Price Can Still Rally To $10
In an X post, DOGECAPITAL outlined why he is confident that the Dogecoin price will still rally to $10 and even higher in this market cycle. While alluding to DOGE’s daily chart, he first stated that the indicator at the top of his accompanying chart has consistently identified Dogecoin’s cycle tops, which are marked by the red vertical lines with the “never miss zone” on the wave indicator.
Secondly, the crypto analyst remarked that this same indicator aligns with the 1442-day theory, which suggests that the Dogecoin price completes each cycle and reaches its final peak in the fourth year of the cycle. He added that the parallel channel theory has accurately predicted the final cycle top by hitting the line just above the red line (on his accompanying chart) in the 2017 and 2021 cycles.
The Dogecoin price has currently been on a downtrend, dropping from its local high of around $0.46 in December 2024 to the $0.2 range. However, DOGECAPITAL suggested that this price decline wasn’t out of place. He claimed that the foremost meme coin has historically reached this level before entering phase 2 of its parabolic upward movement.
The crypto analyst claimed that phase 2 typically peaks when the price hits the same parallel line. His accompanying chart showed that the channel’s lower boundary is at the $4 target. He believes Dogecoin will follow this pattern again, leading to a major correction after phase 2, similar to past cycles, before it moves into phase 3, which would be the final phase of the cycle.
DOGE Can Reach As High As $45 In Phase 3
DOGECAPITAL predicted that the Dogecoin price could rally to as high as $45 in phase 3 of the bull cycle. He noted that in phase 3, the peak price of each cycle reaches the line just above the parallel line, marking the cycle’s exact top. According to him, this line is positioned at $45 and gradually rises over time.
The crypto further claimed that If history repeats itself, the timing of the Dogecoin price reaching this line will determine when this cycle’s final peak occurs. DOGECAPITAL predicts that Dogecoin will perform similarly to or even outeperform its previous fourth-cycle performamces. He added this this expectation is based on factors such as technological advancements, increasing global adoption, and growing instituional interest.
At the time of writing, the Dogecoin price is trading at around $0.21, down over 9% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
