Crypto analyst Behdark has provided an in-depth analysis of Dogecoin's price roadmap to date all time high (ATH) to buy for 0.75 US dollars. In his analysis, he explains why Dogecoin could still see a major correction before reaching its current ATH.
The price of Dogecoin Next Wave is Bearish
In a Trade View postBehdark said that the price of Dogecoin seems to be entering the F wave, which is a bearish wave. The crypto analyst noted that the former corrective waves This diameter lasted between 196 and 347 days, so this F wave is expected to last between 196 and 347 days.
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An accompanying chart by the analyst indicated that the price of Dogecoin could fall to be exchanged for 0.15 US dollars on this F wave a corrective movement. Similar to waves B and D, the analyst said that this corrective wave is expected to be very volatile. Based on the 196 to 347-day timeline, this corrective wave may not end until sometime in November 2025.
Once the corrective wave F is complete, the price of Dogecoin will move to wave G. Behdark said that Wave G will be a bullish wave that could lead to a new ATH. The accompanying chart showed that Dogecoin could reach around $0.88 on this critical move to the upside. However, the expected psychological price level $1 it could still avoid the most important meme coin.
At the same time, the crypto analyst said that a weekly candle below the invalidation level at $0.12 would invalidate the buying view for the green zone between $0.15 and $0.20. Behdark's analysis gives a completely different outlook for the price of Dogecoin, considering how crypto analysts Commercial Tardigrade has predicted that the meme coin could accumulate to double digits by mid-2025.
Behdark's analysis also suggests that the price of Dogecoin is unlikely to reach $1 in this market cycle, target market participants have put their eyes forward since the meme coin started its parabolic rally between October and November.
Four-year cycle still in play
Crypto analyst KrissPax gave a more optimistic outlook for Dogecoin's price, saying that the four-year cycle is still going. The analyst mentioned a historical pattern in which Dogecoin started in January 2021 after a rise at the end of December 2020. He then raised the possibility of repeating this historical trend again.
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Crypto analyst Master Kenobi previously also suggested that Dogecoin was likely to have a price reversal in January 2025 as it referred to the historical pattern in the bull run of 2021. The crypto analyst believes that Dogecoin may reach a new ATH around on the inauguration of Donald Trump, especially with the Department of Government Efficiency (DOGE) coming to life when Trump takes office.
At the time of writing, the price of Dogecoin is trading at around $0.31, down almost 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
