Dogecoin Price Moves Up 2 Months Earlier Than Previous Cycle, Is $2.9 The Highest Level?

Dogecoin's price action has returned to an upward trend in the past 24 hours after spending most of the past seven days in correction. Specifically, Dogecoin's price has now increased by about 4.5% in the past 24 hours. According to cryptocurrency analyst Master Kenobi, the market fluctuations of Dogecoin seem to be reflecting previous cycles but with a significant twist; events are unfolding more than two months earlier than expected. His profound insights, shared on social media platform X, predict that the price of Dogecoin is heading towards a new high of $2.9. The price cycle of Dogecoin starts early in 2024 In his analysis, Master Kenobi noted that this year's cycle begins on September 2, 2024, compared to November 3, 2020, for the previous cycle. The two-month lead time seems to have affected price action and key breakout patterns have changed compared to the previous cycle. However, he emphasized that the current movement aligns with the long-term predictions he has developed over the past year and a half. His analysis focuses on the major breakthroughs in Dogecoin's history, particularly in the cycles prior to its sharp rise from the established green trend line to touch the higher orange trend lines shown in the chart below. According to Kenobi, this historical precedent reinforces the belief that Dogecoin's price could reach a new all-time high (ATH) in the next two weeks.

Price target: $1.08, $2.90 or some level in between Kenobi's DOGE chart highlights two main price targets for Dogecoin in this cycle. The first is the yellow line at around $1.08, which is a more cautious forecast. Despite the caution, reaching $1.08 would represent a 166% increase from the current price and witness Dogecoin surpassing its all-time high of $0.7316. The second target, more ambitious, is to increase by 616% to the orange path at $2.90. Although this seems overly optimistic, history has proven the feasibility of such strong moves in the two previous price cycles. Although the $2.90 orange line forecast is the most optimistic target, Kenobi sees the middle target as more realistic. By doubling the previous ATH or reaching half of the orange line, the Dogecoin price will be in the range of $1.40 to $1.45. This would still represent a significant breakthrough and align with the upward price trend line seen on the chart. At the time of writing, Dogecoin is trading at $0.405. If the analyst's prediction is correct, Dogecoin could reach a new all-time high (ATH) within the next two weeks. Furthermore, the analysis suggests that this timeframe is around December 2, 2024. Such a move would make Dogecoin outperform other cryptocurrencies and surpass digital assets like XRP and BNB in market capitalization. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)