Is Dogecoin price at $10 still possible? 4-year cycle theory reveals the answer

A new Dogecoin price analysis suggests that this top meme coin could rise to a new ATH of $10. A crypto market expert, Dima James Potts attributes this prediction to 4-year cycle theorywhich illustrates parabolic growth during each major cycle.

Dogecoin price targets $10

On January 11, Potts shared a chart comparing three different cycles in the Dogecoin price action. The analyst predicts that Dogecoin price may rise to $10 if it follows historical bullish trends observed in previous cycles. The analyst’s forecast is based on the 4-year cycle theory, a concept characterized by Bitcoin’s Scheduled Halving Eventswhich reduces miner block rewards by 50%.

Potts has revealed that Dogecoin bullish action during each cycle occurred after the technical indicators – “the green and red trend lines” – crossed each other. In cycle 1, in the early stage of the Dogecoin market performance between December 15, 2015 and December 26, 2016, the analyst reported a massive 9,404% increase to $0.01 after the green and red trend line crossover.

In Cycle 2, which took place years later, between December 2019 and December 7, 2020, the analyst revealed that Dogecoin saw another significant increase of 29,626% to $0.5 after the trend lines crossed. This significant price increase represents exponential growth compared to the first cycle.

The crypto market is in the fourth year of cycle 3, and Potts expects bigger ones parabolic growth in 2025 based on similar trend patterns. He predicts that Dogecoin will see an increase of 11,049% by 2025, marking a significant increase from its current market cap of $0.32 to $10 all-time high.

In the chart, the analyst issued a straight larger price target for Dogecoin this year. He indicated that after a potential rise to the $10 target, Dogecoin could experience another massive 40,037% increase to reach a price level between $30.5 and $38.5.

Potts mentioned that during this cycle, Dogecoin’s bullish price increase will be driven by technological advances and global adoption of the top mem coin. He also noted that historically Dogecoin’s performance was highest in the fourth year of each cycle. As a result, he believes this current cycle will see similar significant growth.

Update on DOGE Price Action

Dogecoin is currently trading at $0.32 after experiencing a massive 20.25% price drop during the past month. Earlier in January, the cryptocurrency appeared to rise significantly, fueled by whale hoarding and increasing investor demand for the meme coin.

Since the previous surge, Dogecoin has experienced a setback, falling by 15% over the past seven days and by another 3.89% in the past 24 hours. Despite this bearish performance, analysts remain optimistic about the future price path of the meme coin.

Especially Mister Crypto, an analyst at X, listed that Dogecoin is currently in its final consolidation phase before a “parabolic explosion.” The analyst suggests that Dogecoin could experience a massive price increase to $1.5 when this consolidation ends.

Featured image created with Dall.E, chart from Tradingview.com