dogecoin

#Dogecoin has upheld its standards so far this cycle, and analyst Bitcoinsensus has kept in touch with this sideways trend.
In a Monday commentary, the analyst asked whether Dogecoin would perform as well as previous cycles, where it exploded after a similar structural development. Notably, the analysis featured a breakdown of Dogecoin’s price action in previous market periods and how far it has progressed.
Key Data Points
Dogecoin’s current price action mirrors what the market witnessed in past market cycles.Bitcoinsensus has closely monitored this trend, asking in the recent analysis if Dogecoin would follow its previous cycles.The analysis highlighted Dogecoin’s price action in previous market cycles, with Bitcoinsensus noting that Dogecoin has been moving in several waves for over 12 years.Within this period, Dogecoin has moved in a clear pattern of correction, accumulation, and then a price rally.The last two cycles have followed this pattern, producing growths of 5,858% and 21,457%.Two of the three cyclical fractal patterns have occurred since the 2022 market cycle started.If history repeats, Bitcoinsensus says Dogecoin will rebound from recent lows and target higher prices.
Historical Data of Previous Dogecoin Cycles
Over the past 12 years, DOGE has moved in a clear pattern of correction, accumulation, and then a price rally. In the earliest cycle, Dogecoin started a correctional phase in 2014, correcting from its post-launch rally to $0.0022.
This continued until early 2015, when it entered an ascending channel from the lows of $0.001. In March 2017, DOGE broke out from this channel and began an expansion to the cycle’s high of $0.0041, culminating in a 5,858% growth per the analyst’s chart.

A similar scene played out after the 2014-2018 cycle concluded. Specifically, Dogecoin entered another triangle-like accumulation structure and consolidated until June 2020, when it reached a low of $0.0022.
DOGE transitioned to a very short accumulation zone that lasted just five months. In November 2020, the token broke out and entered an impulsive move to its May 2021 peak price of $0.7605, which remains its all-time high. The move implied a 21,457% gain from the breakout point of the accumulation zone.
Repeating Cyclical Pattern? What It Means for Dogecoin
Meanwhile, two of the three cyclical fractal patterns have occurred since the 2022 market cycle started. Dogecoin entered another descending triangle after the ATH and consolidated to the lows of $0.0569 before beginning its current accumulation phase in early November 2023.
Notably, Bitcoinsensus’ chart shows that the meme coin is now at a point where Dogecoin historically broke out. As the accumulation period winds down, the analysis shows a correlation with previous ones; hence, there is a strong chance that history will repeat itself.
However, the rate at which DOGE would increase if the bullish phase starts remains uncertain. As a result, he asked if this cycle would be as “explosive” as the previous ones.
Risks to Consider
If history repeats, Dogecoin will rebound from recent lows and target higher prices. The percentage increase will depend on momentum, adoption, and the broader market conditions.
However, it could go the other way too, and Dogecoin could dump to retest previous lows. So Bitcoinsensus is not giving financial advice, and all investment decisions should be made after thorough research.
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