Crypto analyst Dima James has provided an update on what to expect from the Dogecoin price following the meme coin’s recent surge to its highest level since July. Based on his analysis, DOGE’s uptrend will continue in the new year, leading to a massive climb to $10.
Dogecoin price recovery trend continues into 2025
Dima James mentioned in an meme coin dip below Again $0.10, just like in the previous cycles.
However, the analyst warned that bigger declines would occur as the Dogecoin price climbed higher. Dima James noted that in previous cycles, DOGE witnessed a 30-85% pullback on its way to the ultimate top in those bull runs.
He believes the market top for the Dogecoin bull run will occur in 2015. The analyst claimed that DOGE adoption will be crucial in pushing the Dogecoin price to new highs in this cycle. Interestingly, James is confident that the main meme coin and can achieve Surpass $10 at the height of this market cycle.
The analyst’s accompanying chart showed that the Dogecoin price could even rise to $36. James’ analysis is based on historical patterns, especially during the 2021 bull run. He claimed that DOGE is replicating the price action since it broke above the upper trendline of a falling wedge in September and has started its uptrend, similar to what happened in 2021 happened.
The break above the upper trendline in 2021 ultimately led to the parabolic rally of the Dogecoin price to its current value. all-time high (ATH) from $0.73. Therefore, the meme coin might once again witness another massive price surge, which would take it to a new ATH.
DOGE is ready for the next step
Self-proclaimed Lead Analyst of Dogecoin on X, Kevin Capital claimed in one X message that DOGE is strong and will soon go much higher. Previously, now, he assured that the price drop that the Dogecoin price which we saw after the increase to $0.14 was just a health relapse.
He added that as long as the meme coin is worth above $0.127, which is the gold macro pocket, market participants can be confident about the pullback and expect buyers to intervene. In another X-post Kevin indicated that Dogecoin could lead this bull run. He explained that the meme coin is the “retail darling” as even non-crypto natives own a chunk of it.
As such, he believes that when market participants return, they will know that the running of the bulls is in full swing.
At the time of writing, the Dogecoin price is trading around $0.13, up more than 1% in the past 24 hours, according to facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com