Dogecoin (DOGE) Primed for Bull Run? Expert Highlights Meme Coin's Key Historical Patterns

Crypto analyst Zer0 has analyzed Dogecoin (DOGE) suggesting the meme coin may be about to surge. The analyst points to historical patterns and current market

Dogecoin (CRYPTO: DOGE) has remained a favorite among retail traders and crypto enthusiasts, despite facing criticism for its meme status, high inflation rate, and large market capitalization.

Now, as the new year begins, one crypto analyst is highlighting key historical patterns in Dogecoin that could indicate an upcoming bull run for the meme coin.

According to crypto analyst Zer0, Dogecoin has historically experienced a pattern of extended periods of price decline (90% or more) followed by consolidation that lasts for over 1,000 days. Following this consolidation, the meme coin tends to undergo rapid price expansions lasting 200 to 300 days.

Zer0 shared his analysis of Dogecoin's historical price movements in a recent tweet. The analyst pointed out a pattern in DOGE's price action that keeps repeating - longer periods of decline followed by rapid expansions.

"One of my regrets from last cycle? Not buying any $DOGE at the lows," Zer0 noted in the tweet.

The analyst's observations are based on a close examination of Dogecoin's price movements over the years. Zer0's analysis suggests that Dogecoin has completed its latest downtrend and consolidation phase.

The meme coin has experienced a price dip of more than 90% and has traded sideways for about 1,200 days. This extended period of price stability aligns with the historical patterns observed in previous cycles.

Past expansions in Dogecoin's price have lasted around 200 to 300 days, according to the analyst's observations. These periods of rapid growth have led to substantial gains for investors who entered the market during the consolidation phase.

Zer0 also addressed some common criticisms of Dogecoin in his tweet, including concerns about its emission rate, high market capitalization, and the potential dilution of interest in meme coins. However, the analyst dismissed these arguments, emphasizing the historical precedent of Dogecoin's price performance.

"They say: 'But DOGE has high emission rates, large market cap, meme coins are dead...'" the analyst stated before adding, "Me: 'It's always been like this. DOGE also existed before ETH. Anyway...' DOGE TO THE MOON."

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