In its history, Dogecoin’s price has experienced two major price increases, with the memecoin reaching new all-time highs. This trend is raising expectations that cryptocurrencies are gearing up for another rally similar to the last two bear markets. Investors remain bullish, even though 2025 is almost over and no such rally is in sight.
Analysts predict third wave of Dogecoin prices
Pseudonymous crypto analyst EtherNaysyonal shared an analysis with the Dogecoin community showing where DOGE price is expected to go next. This analysis focuses on the sudden explosive bull market that occurred during Dogecoin’s lifetime and predicts the next event that could push the memecoin towards all-time highs.
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Highlighting past performance, the cryptocurrency analyst shows how Dogecoin’s price remained stable over a long period of time until its demise in 2017. Once this bottom was established, the price rose over 7,000%, rising from less than $0.00028 to more than $0.02 before the bear market began in 2018.
Then came another long-term consolidation trend that lasted several years until ending in 2021. Similar to 2021’s performance, the final case for the 2021 bull market was no different: an explosive rally. Dogecoin’s price rose from less than $0.0028 to more than $0.7, an increase of over 30,000% by the time the run was completed.
Pointing to these past performances, analysts believe Dogecoin may be on the verge of another big crash. If the price shows a similar rebound, analysts believe that the meme coin price will exceed $1. By the time it is done, we will see an increase of over 1,200% and the price could reach $2.2 before momentum weakens.
Evolution of DOGE
This analysis was done in response to EtherNaysyonal’s previous post showing how Dogecoin evolved from a joke to a full-fledged cryptocurrency. They explain that the existence of DOGE shows that money doesn’t always have to be serious.
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However, even though Dogecoin started as a joke, it has since grown beyond that and made some major developments that solidify its position in the market. Along with Bitcoin, Ethereum, Solana, and XRP, Dogecoin is one of the millions of cryptocurrencies that businesses can use as a reserve currency.
As Dogecoin is moving into the mainstream of institutional investors, there have also been several Dogecoin ETF applications. DOGE is expanding its reach by being incorporated into companies such as Tesla as a payment method for products.
Featured image created by Dall.E, chart on Tradingview.com
