While being a meme token, it’s worth taking note of the fact that Dogecoin ($DOGE) has a very large and passionate online following. It has a 2.4M strong Reddit account (top 1% by size) and still actively posts memes daily, with significant interaction.
One user has posted a ‘Is Doge A Dollar’ Meme for 950 days straight, on both the Dogecoin Reddit account and on his/her personal Twitter feed. Doge is currently priced at around $0.08, so $1 would constitute a 12x increase.
It’s also the OG meme token (with many copies) that has observed price increases due to tweets from Elon Musk. Such tweets have driven the price up by 50% within hours.
Our Doge breakout prediction, however, is based mainly on chart analysis as opposed to community size and short-term price increases due to tweets and media events.
Related: Can The Price Of Solana hit $1,000 by 2030?
What leads to a crypto breakout?
Doge has not moved much in the past two years. In the fast-paced meme markets where everybody is chasing 10x gains before lunch, this turns many away from the token. Meanwhile, there are many alternatives available promising sky-high returns – Meme Kombat, Dogwifhat, Bonk, Myro, etc.
What most investors fail to understand is that a long, steady, orderly consolidation leads to a breakout. The Doge consolidation is very long and powerful. While it’s not yet prepared to break out in the short term, it is preparing bullish momentum.
Another thing to keep in mind is that most of the headlines you read regarding meme tokens rising X% in a given time period are paid for by the companies themselves – highlighting how great the project is.
When the coin subsequently falls by 95%, no headline is created. It’s purely a FOMO market. That’s exactly why charts are so important to keep in touch with accurate entry and exit points to make real gains, based on real information.
Doge breakout prediction 2024/2025
Another critical point to keep in mind, aside from the fact that long orderly consolidations are wonderful for patient investors, is that Doge needs an altcoin season before breaking out.
We wrote about this 2024 altcoin season extensively in a previous article, which is well worth reading for anybody interested in what’s really going on.
The main takeaway from this article is that the altcoin season kicks off officially when the total market cap of altcoins (coins exclusive of Bitcoin and Ethereum) hits $509 billion. Bitcoin dominance is breaking down at a time when Bitcoin ETFs have been released.
It’s hitting a local top and again, many investors are probably going to get in on Bitcoin at its high, when its dominance is weakening. Money will be made in specific altcoins, not Bitcoin. With BTC dominance weakening, the positive correlation between altcoins and Bitcoin might be much lower than the market has come to rely upon. So coins have to be chosen more carefully.
Our premium crypto investment service can help readers to get in on altcoins months before the hype starts in the media. At this time, it’s way too late to do anything except invest in typically overpriced crypto assets.
Expect two Dogecoin rallies
Another relatively unknown fact outside of trading circles is that Doge tends to rally at the end of the bull cycle. While it offers more upside than most altcoins and meme tokens, it will take longer before liftoff.
We predict two Dogecoin rallies, one in 2025 and another in 2026. The reason for the two breakouts is that market conditions and the structure of the charts are vastly different in 2024 than in 2020/2021. This slow reversal will lead to a different type of breakout.
Of course, the rally is likely to take place with an initial market drop. Bitcoin could experience a drop in the near to medium term. This could provide optimum conditions for entry in Doge and other coins before altcoin season begins.
A Doge breakout in 2024 is highly likely
Doge will likely test all-time highs in 2025 or 2026, with a breakout in 2024. It’s only a matter of time before the breakout starts. Just remember the key points highlighted in this article:
- A long-term consolidation is a sign of a breakout, not a ‘boring’ coin.
- A hybrid altcoin season is kicking off – when the altcoin market cap exceeds $509B.
- Choosing altcoins will be a little more difficult, as BTC correlation might not be as strong.
- Expect a drop before a Dogecoin rally.
We track a number of worthwhile meme tokens in our premium crypto research service, including Doge. The difference is that we outline specific entry and exit points so clients know exactly what to do, and when to do it, based on charting analysis, not media hype. So we alert subscribers as to when the token is ready to kick off.
We also have tokens that offer more upside in comparison to Dogecoin.
Disclaimer: This is not financial advice. Please consult with a licensed financial advisor prior to making any investments.
