Dogecoin showing 2020 market trends – Is a $2 DOGE price explosion expected by April?

Dogecoin (DOGE), the world’s largest meme cryptocurrency, has fluctuated over the past two months, trading between the support level of $0.077 and the resistance level of $0.090.

This sluggish move comes even as other major cryptocurrencies such as Bitcoin, Ethereum, Solana, and BNB have surged significantly. However, despite the sideways price action and apparent weakness, experts predict that DOGE could be poised for a parabolic surge.

Earlier Monday, renowned cryptocurrency analyst Ali Martinez highlighted the similarities between DOGE’s current price action on I suggested that it could be done.

Martinez’s forecast is based on historical trends in which such pressures outpace extremely bullish movements. Late last week, analysts highlighted the similarities between Dogecoin’s current behavior and its behavior in 2020. In this case, DOGE broke out of its descending triangle, went through a period of consolidation, and eventually rose an impressive 28,770%.

“DOGE currently appears to be mirroring this pattern, having broken out of the descending triangle and is now in a consolidation phase, potentially setting the stage for another significant bull market,” he said.

Other analysts shared this optimistic outlook. For example, analyst Jon suggested that DOGE is simply following the market trend and is anticipating a breakout of the $0.09 level. In particular, the expert noted that he expects the price to break initial resistance and be followed by a significant “green candle” that could potentially reach $0.10 before heading towards $0.13.

On the other hand, in a YouTube video on Monday, analyst “VisionPulsed” discussed the possibility of the price reaching $2, noting that DOGE has yet to experience a significant downside. He also suggested that DOGE’s price action may reflect historical trends and that it is likely to hit a high around December 2023, when it hits a new all-time high due to the influence of Bitcoin.

“I think we’ll see Doge take off once Bitcoin hits an all-time high,” he said. “Bitcoin could hit past all-time highs much sooner than many people expect. He could be May or June. “As long as there is no decline in Bitcoin, there will be no decline in Dogecoin, and if there is no decline in Dogecoin, that means we are at the end of this.”

That said, expectations of a parabolic surge in April have created a quiet consolidation phase for DOGE, which many analysts and investors have referred to as the memetic cryptocurrency’s ‘silent storm’. The next few weeks will be critical for DOGE’s price action as the market awaits a breakout.

At press time, DOGE was trading at $0.087 after surging 1.25% in the past 24 hours, according to CoinMarketCap data.