Price forecasts for Dogecoin made by renowned crypto analysts indicate a significant potential increase in this cryptocurrency's value. Technical analysis shows DOGE is preparing for a growth phase in line with a potential breakout of Bitcoin shortly.

Dogecoin's Growth Phase

Analysts from Tradingview, including Tradingshot, highlight recurrent patterns in DOGE price movements, linking them to Bitcoin's actions. According to technical analysis, DOGE is likely to experience a significant price increase if it breaks through the resistance level, similar to past occurrences. “After Bitcoin breaks the resistance level, Dogecoin follows, albeit with a much stronger momentum. In a few weeks, Dogecoin reached its previous ATH,” reports Tradingshot.

Bitcoin Scenario as a Benchmark

Each time Bitcoin experienced a substantial rise beyond ATH, Dogecoin often followed a similar pattern but with greater intensity. According to crypto expert Bitquant, the current Bitcoin price movements show patterns analogous to the 2021 cycle. At that time, Bitcoin was stalled in a correction phase before a major breakout. A similar path is observed in the current cycle, with Bitcoin in an 'extended phase,' restraining the price from reaching its peak. Bitquant suggests that Bitcoin has not yet completed all waves of increase in this cycle, signaling aggressive movements for Dogecoin following BTC’s completion of the phase.

Dogecoin Surpassing Previous Highs

Additionally, Dogecoin price predictions are supported by other analyses, like those of John-Burr, which suggest potential significant growth, surpassing previous highs. “It's time for a timeline repetition or the beginning of a new pattern,” he explains. According to his trendline analysis on TradingView, Dogecoin's price is at a critical point, heading towards a significant increase. With Bitcoin breaking resistance levels, DOGE could follow suit in a more aggressive pattern, with price predictions surpassing $0.70 and possibly achieving even higher levels. This potential rise is also supported by technical indicators like the Relative Strength Index (RSI), which shows DOGE in the oversold territory, signaling an imminent price reversal.

Based on historical cycles and technical analysis, Dogecoin is expected to enter a growth phase, experiencing significant price increases in the coming weeks or months. With Bitcoin on the brink of a major breakout, DOGE is ready to follow suit and surpass its ATH.