When does the DOGE Bull run start?

DOGE price is consolidating in a narrow trading range around $0.20. This is a critical psychological level that the asset passed two weeks ago. The last time DOGE traded above this level was in November 2021.

By metrics, DOGE is throwing up mixed numbers. The price on a monthly basis increased by 20%, but the market capitalization fell to 29 billion dollars, because the 24-hour trading exchange was in the red, down 9% to 2.2 billion dollars.

Dogecoin is ‘following the plan'

Despite the consolidation, analysts believe that DOGE's next bull run will begin sooner rather than later.

Prominent crypto trader Rect Capital suggests that memecoin is in the process of retesting the $0.20 level on its monthly timeframe.

The analyst pointed to a downward wick on the monthly chart, which means a retest of the bullish flag pattern on the weekly time frame.

Earlier, the analyst warned of volatility around the $0.20 mark. A successful break above such a critical level means more upside potential, typically above $0.30. Other market observers, such as Mikibul Crypto, share equally bullish views.

$DOGE

The real bull run is about to begin🔥 pic.twitter.com/uPa17Dt4Un

— Mikybull 🐂Crypto (@MikybullCrypto) April 7, 2024

Rect Capital is not the only analyst predicting bullish action for DOGE. As the father of all memecoins strengthens, traders predict prices above $1, as the coin reflects previous cycles.

According to CryptoPotato, some analysts believe that DOGE may be heading for a new rally, targeting prices above $2, $9 and $40.