Cryptographic analyst Master Kenobi has provided an update on Dogecoin price action compared to the 2021 bull run. The analyst revealed that the DOGE/btc chart has aligned with this previous cycle and predicted when exactly Dogecoin could experience the long-awaited surge.
Dogecoin price nears long-awaited surge
in a <a target="_blank" href="https://x.com/btc_MasterPlan/status/1866873137129746480″ rel=”nofollow” target=”_blank”>x publicationMaster Kenobi predicted that the long-awaited Dogecoin price surge could begin in the third week of this month, around December 30. This came from comparing the current price action to that of the previous cycle. Although The Dogecoin bomb started earlier than in the previous cycle, Master Kenobi highlighted a similarity between both cycles in relation to the bitcoin halving.
The crypto analyst noted that on the DOGE/btc chart, the red week falls exactly 238 days after the last halving, which aligns perfectly with the running of the bulls 2021. If history were to repeat itself, Master Kenobi predicts that the Dogecoin price will close this week in the red, followed by two weeks in the green before the long-awaited pump begins in the third week, around December 30.
The attached chart showed that Dogecoin price could rise up to high like $1.7 when this long-awaited event happens around the projected timeline. This will mark a new all-time high (ATH) for the top meme coin, with DOGE's ATH currently at $0.73.
Meanwhile, in his previous post, Master Kenobi suggested that this red phase of Dogecoin price consolidation is much needed, although he wishes it had happened sooner. He also predicted that a new Dogecoin ATH could occur in the first half of January if it does not happen before the end of the year.
He believes that this Dogecoin price rally to a new ATH could coincide with Donald Trump's return to the White House based on the “Trump Effect” and Elon Musk Department of Government Efficiency (DOGE). DOGE offers a bullish outlook for Dogecoin, given that DOGE inspired the Department's name.
Hidden Bullish Divergence Forming on DOGE Chart
In a post x, crypto analyst Kevin Capital brought the community's attention to a hidden bullish divergence forming on the daily Dogecoin price chart. The analyst commented that bitcoin price still needs to show bullish momentum, so nothing is guaranteed. However, he added that Dogecoin's price action is “textbook” at this point.
In a post x, crypto analyst Tardigrade Trader It also provided a bullish outlook for Dogecoin price. He claimed that Dogecoin is ready for the next rally. The accompanying chart showed that DOGE could reach $30 at the peak of this bull run.
At the time of writing, Dogecoin price is trading at around $0.41, up more than 6% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
