Analyst Dima James Potts points out that Dogecoin’s recent price action resembles the initial stages of its 2021 parabolic breakout, with the coin rising above the upper trendline of a falling wedge.
In order for Dogecoin to reach new highs, it needs to close above $0.18 first. Projecting Dogecoin soaring to $10 per token would require a massive influx of capital from retail and institutional investors, as well as volume greater than what was seen in the 2021 rally.
Dogecoin is experiencing a price rally, breaking above its upper trendline and outperforming many other large market cap cryptocurrencies. This comes as Dogecoin approaches a potential parabolic run, similar to its 2021 trajectory, with an analyst suggesting that it could hit $10 per token.
