Dogecoin (DOGE) has been stagnant for a while, but its next big move could be imminent. According to market analyst Ali Martinez, the cryptocurrency may be repeating a familiar pattern. Historically, Dogecoin breaks out of a multi-year descending triangle, often leading to a 200% price rally. Following this, a retracement of around 60% typically occurs before a major bull run.
Is a 200% Rally on the Horizon?
Dogecoin recently completed the second phase of this pattern, with a 65% retracement, indicating the potential for a new bull rally. Martinez’s analysis points to three similar occurrences since 2015, making a case for history repeating itself. If this trend holds, Dogecoin could see a 200% surge in the midterm, pushing its price to $0.2236—a level not seen since December 2021.