Dogecoin Eyes 1,000% Increase To Reach $2.55 ATH This Cycle

Dogecoin is once again in the spotlight as market analyst Master Ananda outlines a bold outlook for its current bull cycle. Past cycles show that major moves in DOGE often unfold over many months, not weeks. Ananda highlights that the meme coin has already been in an uptrend for years, with strong momentum since 2022 and a clear breakout from October 2023. 

While no one can predict markets with certainty, the analyst argues that the path of growth is already in motion, and price targets suggest a possible climb as high as $2.55 this cycle.

Dogecoin’s Historical Growth Patterns Vs. Current Cycle

Looking back at Dogecoin’s history, the numbers speak for themselves. In the last bull market, DOGE grew an incredible 65,527% over 420 days, proving that its rallies have the power to stretch far beyond what most expect. This context makes it hard to believe the claim that all potential growth must be squeezed into just two months, or “eight candles,” as Ananda puts it.

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Dogecoin hit its bear market bottom in June 2022, following the May 2021 all-time high. From that point, including a long stretch of consolidation, DOGE has been on a steady climb for 1,155 days. The uptrend became much clearer in October 2023, meaning it has been building strength for 672 days since then.

Given this background, Ananda asks: Who decides the rally has to end in exactly two months? Why not three, four, or even more months of continued growth? He points out that the market does not always follow the predictions of central banks or analysts, and external expectations like recession fears often fail to match what happens. In some cases, while traditional markets fall, crypto can surprise everyone by turning ultra bullish. For Dogecoin, that kind of perfect timing is not impossible.

With this in mind, the analyst believes the idea of a short-lived rally underestimates Dogecoin’s potential. Its chart shows years of progress and a trend that is still far from over. While it remains below its all-time high, Ananda is confident that the crypto will surpass it this cycle.

Key Price Targets And Resistance Levels Ahead

Turning to the chart, Ananda lays out clear price levels to watch. The first significant resistance stands at $0.47, a milestone that is within reach this month if momentum continues. Breaking through that level would set the stage for a test of the previous all-time high at $0.74.

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Beyond that lies $1.166, which Ananda calls the primary resistance for the current move. If Dogecoin can push past this zone, the door opens to even higher targets that could redefine the cycle, with the potential for a price climb to $1.85 or even $2.55, marking an increase of around 1,000% from current levels.

While short-term uncertainty is always present, especially with talk of recessions or market corrections, Ananda argues that Dogecoin’s setup remains bullish. The market may look calm now, but the conditions are in place for a breakout. 

Featured image from Unsplash, chart from TradingView.com