Dogecoin Returns To December 2020 Levels, Is Another 36,000% Rally Possible?

Dogcoin price has shown a lot of promise recently after he rising above $ 0.2 with momentum over the past week. However, the price remains much lower than its highest level ever at $ 0.7, which means that there is still a way to go to the Mimi coin from here. Interestingly, the price of Meme Coin seems to have decreased in a direction that has not been seen since December 2020, as highlighted by the Crypto Cryptokaleo analyst, which indicates the trend of climb.

The price of Dogecoin returns to levels 36,000 % before

In the X, Cryptokaleo outline The fact that the price of Dogecoin was similarly heading to the place where he returned in 2020. In particular, The price of Dogecoin was struggling in December 2020But this was before the legendary 36000 % began by billionaire Elon Musk about Mimi’s currency on his participation in X (previously on Twitter).

At that time, the price was struggling after its previous height at all, after the direction line down. This was until another escalating momentum, followed by the declining direction, which represents the end of the price low. At this stage, the bottom indicated the start of the next gathering.

Now, again, The price of Dogecoin has started to mark another bottom After a preliminary collapse within this direction line. According to the analyst, this puts the price of Dogecoin in the same place where he returned in December 2020.

If he follows the same direction he was doing, the MIM currency may be preparing to see an equivalent gathering. From the analyst’s chart, the $ 1 sign is no less than thinking, with a potential summit of $ 2.4 before completing the direction.

Can Price prompt 36,000 % again?

The last time that The price of Dogecoin broke out from this directionThe gathering ended with 36,000 % in the next few months. This opens the possibility that there will be a similar gathering in the cards. However, multiple developments over the past few years indicate that this is not possible.

For one of them, the increase of 36,000 % of here means that the price will rise to 72 dollars, which means that the maximum of the Dogecoin market will have to increase more than $ 2 trillion. This is very unlikely given that Doge Supply is always rising and is still unlimited. Most likely, the $ 1 sign will celebrate the end of the end of Dogcoin prices.

Distinctive image from Dall.e, Chart from TradingView.com

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