Crypto analyst EtherNasyonaL has predicted that the Dogecoin price is well-primed for a parabolic rally. This came as he alluded to the meme coin’s historical performance, while declaring it was “parabolic coded.”
Dogecoin Price Eyes Rally To $1 As Analyst Says Meme Coin Is ‘Parabolic Coded’
In an X post, EtherNasyonaL predicted that the Dogecoin price could rally to the psychological $1 level, hinting that the meme coin was well-positioned for a parabolic rally. The analyst highlighted DOGE’s historical performance in the fourth quarter of 2023 and 2024, when it recorded gains of 246% and 373%, respectively. Based on this, he raised the possibility that the meme coin could also witness significant gains in this fourth quarter.
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EtherNasyonaL advised market participants to position themselves as the Dogecoin price eyes this parabolic rally to $1, which will mark a new all-time high (ATH) for the meme coin. In another X post, the crypto analyst again doubled down on his bullish forecast for the meme coin. He stated that the DOGE cycle 3 continues and is heading towards parabolic waves once again.
EtherNasyonaL noted that in the first cycle, the Dogecoin price rose by 21,825%, while in the second cycle, the meme coin rose by 54,890%. He further remarked that DOGE is up 800% in this third cycle from its borrow to the December 2024 peak of around $0.48. The analyst added that Dogecoin has made massive jumps after every bottom in the past, suggesting that this time will not be different.
EtherNasyonaL claimed that the chart suggests that the Dogecoin price may be on the verge of another major move. His accompanying chart showed that DOGE could rally above $1.5 on this next leg to the upside.
‘Conservative’ Target Of $11 For DOGE
Crypto analyst Dima Potts predicted that the Dogecoin price could gain 37x from its start price this year of $0.31, reaching $11.71 by the end of the year. He described this as his conservative target, as he was avoiding projecting a 283x move, which will follow the pattern of the 83x and 183x gains the meme coin recorded in the first and second cycles, respectively.
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However, Dima Potts suggested that the Dogecoin price may be mirroring its historical price action. He revealed that DOGE is once again approaching the yellow resistance line, currently around $0.41 on the weekly timeframe. The analyst added that if the meme coin closes above this level, history suggests it could be on the verge of another massive rally, similar to the parabolic moves in past cycles.
At the time of writing, the Dogecoin price is trading at around $0.25, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
