Dogecoin (DOGE) Price To Surge 500% ! Here’s When and How

Amid a gloomy crypto market, Dogecoin seems to be doing extremely well and has seen a massive surge from its previous lows. At the time of publication, Dogecoin has slightly plunged and is selling at $0.0812 after a fall of 3.59% over the last 24 hrs.

A renowned crypto trader and analyst, anonymously known as Smart Contracter, believes that Dogecoin (DOGE) is all set for a massive bull run.

The trader informed his Twitter fanbase of 210,500 that DOGE might be headed towards an enormous bull run, after experiencing a bearish market for several months.

In the chart below, the analyst points out that there is a two-month accumulation breakout seen in DOGE.

Smart Contracter believes that the canine-themed cryptocurrency is following in the footsteps of Bitcoin’s 2019 price movement. During that time, Bitcoin’s price had spiked from $4,000 to $14,000 after being blanketed by bearish control for several months at a stretch.

The analyst put forth his personal view and says it’s just not him who believes in this, but there are many who share the same opinion

yeh i personally think it has a real shot of doing what btc did in 2019.

i reckon alot of people deep down inside are thinking it, just not many ppl want to say it rn for fear of sounding like a crazy person pic.twitter.com/k3ikGmCe9B

— Bluntz (@SmartContracter) August 17, 2022

Further, the strategist used the Fibonacci retracement tool as his base point and predicted that Dogecoin would trade slightly under the $0.50 mark. Eventually, this will lead the Dogecoin price to rise by over 500% from its current price trade.