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

▲ Dogecoin (DOGE)

Market expectations are rising again as analysis suggests that Dogecoin (DOGE) could soar to as high as $4, replicating its past upward patterns.

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 bullish 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 Dogecoin could rise to a maximum of $4 if it breaks out of its current consolidation range. This represents 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 large-scale price breakout are largely in place.

Dogecoin recorded explosive surges in 2017 and 2021 within similar patterns. At that time, it shook the market with tens of thousands of percent increases in a short period, and the current chart is also evaluated as similar to the phase just before those surges. The detection of accumulation by whale investors further increases confidence in the bullish scenario.

The market environment is also unfolding favorably. As Bitcoin (BTC) maintains a relatively stable trend, funds are spreading to the altcoin market. Dogecoin is highly likely to lead the inflow of funds based on its strong community and high public recognition. Key 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 establish itself as 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.*