Is Dogecoin About to "Take Off"? Analyst Predicts Target of 2.55 USD in This Cycle

Dogecoin is once again in the spotlight as market analyst Master Ananda outlines a promising outlook for the current bullish cycle. Previous cycles have shown that significant fluctuations in DOGE typically occur over several months, rather than just a few weeks. Ananda emphasized that this meme coin has been on a bullish trend for several years, with strong momentum since 2022 and a clear breakout since October 2023. Although no one can predict the market with certainty, analysts argue that the growth path has started to move, and the price target indicates that the price could rise as high as $2.55 in this cycle. Historical Growth Model of Dogecoin Compared to Current Cycle Looking back at the history of Dogecoin, the numbers say it all. In the latest bullish trend, DOGE has grown an incredible 65.527% in 420 days, proving that its momentum has power far beyond what most people expect. This context makes it hard to believe that all growth potential must be wrapped up in two months, or "eight candles," as Ananda said. Dogecoin hit the market bottom during the bear market in June 2022, after reaching an all-time high in May 2021. Since that time, including a long accumulation phase, DOGE has shown steady growth over 1,155 days. The bullish trend became much clearer in October 2023, meaning that the coin has experienced significant growth over 672 days since then. In this context, Ananda asks: Who decides that the bullish cycle must end after exactly two months? Why not three, four, or even several more months of continuous growth? He points out that the market does not always follow the predictions of central banks or analysts, and external expectations such as concerns about recession often do not align with what actually happens. In some cases, when the traditional market declines, cryptocurrencies can surprise everyone by shifting to a very strong bullish trend. For Dogecoin, such a perfect moment is not impossible. With this assessment, the analyst believes that underestimating the potential of Dogecoin is a short-term bullish trend. The chart of this coin shows many years of development and the trend is not yet over. Although still below the all-time high, Ananda is confident that this cryptocurrency will surpass it in this cycle.

Main Price Target and Upcoming Resistance Levels Looking at the chart, Ananda provides clear price levels to watch. The first important resistance level is at $0.47, a milestone that is within reach this month if the bullish momentum continues. Breaking through this level will pave the way for testing the previous all-time high of $0.74. Breaking past this level is $1,166, a level that Ananda calls the main resistance level for the current movement. If Dogecoin can surpass this area, the door will open for even higher targets, potentially reshaping the cycle, with bullish potential up to $1.85 or even $2.55, marking an increase of about 1,000% from the current level. Although short-term volatility is always present, especially with speculation about recession or market correction, Ananda argues that the trend of Dogecoin is still bullish. The market may seem calm at the moment, but the conditions for a breakout are present.