"Dogecoin is going to $4"...3000% surge scenario, will another 'memecoin frenzy' come?

▲ Dogecoin (DOGE)

Market expectations are rising again as analysis suggests that Dogecoin (DOGE) could replicate its past upward pattern and surge up to $4.

According to BeInCrypto, a cryptocurrency media outlet, on April 21 (local time), virtual asset analyst Trader Tardigrade diagnosed that Dogecoin has entered the early stages of a new bull cycle. He assessed that Dogecoin has currently formed a solid bottom and is ready for a parabolic rise. This analysis is based on the appearance of a chart structure similar to past surge phases.

Tardigrade predicted that if Dogecoin breaks above its current sideways range, it could rise up to $4. This implies an upside potential of approximately 3000% compared to current levels. Recent technical trends are also interpreted as a phase of accumulating upward energy, with analysis suggesting that conditions for a massive price breakout are largely in place.

Dogecoin also recorded explosive gains in 2017 and 2021 within similar patterns. At that time, it shook the market with tens of thousands of percent gains in a short period, and the current chart is also evaluated as being similar to the stage just before that. In addition, evidence of accumulation by whale investors has been detected, increasing confidence in the bullish scenario.

The market environment is also unfolding favorably. As Bitcoin (BTC) maintains a relatively stable trend, capital is spreading to the altcoin market. Dogecoin is highly likely to lead capital inflows based on its strong community and high public recognition. Major technical indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are also showing bullish reversal signals.

If Dogecoin actually reaches $4, significant changes are expected in the market capitalization structure of the virtual asset market. This is evaluated as a turning point where Dogecoin could become a mainstream asset, beyond a simple price increase. Market participants are focusing on the long-term bullish scenario rather than short-term volatility and are closely monitoring future trends.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*