Bitcoin's price remains high, approaching new records, creating interest in potential fluctuations for Dogecoin's price.
Current State of Bitcoin Market
Currently, Bitcoin's price is trading around $109,000 after briefly surpassing the all-time high of $111,000. An analysis by user DimaPotts36 on platform X indicates that every time Bitcoin closed a weekly candle at new highs, it triggered significant rallies in Dogecoin.
Dogecoin Price Analysis
The chart shared by DimaPotts36 outlines three major Bitcoin price cycles: 2017, 2020, and now 2025. In both previous cycles, once Bitcoin closed a weekly candle above its prior all-time high, the price of Dogecoin saw remarkable increases. In March 2017, Dogecoin surged by approximately 94 times, and then in December 2020, it rallyed 190 times after a similar Bitcoin breakout.
What’s Next for Dogecoin?
The entire analysis hinges on one point: Bitcoin must confirm a weekly close above its old all-time high. If this happens, it could signal that the altcoin rotation is ready to kick off, historically a period of significant growth for Dogecoin.
The current situation in the Bitcoin market could prove crucial for Dogecoin. If Bitcoin successfully closes above its historic high this week, it may signal the start of a new growth cycle for Dogecoin.
