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According to Cephii, a crypto analyst on X (formerly Twitter), the current Dogecoin price action mirrors the 2021 election inauguration pattern, signaling a potential price surge to new ATHs on the horizon. Despite declining by more than 10% in one week, the Dogecoin price continues to strengthen amidst bearish conditions.
Dogecoin Price To Repeat Election Inauguration Rally
During the bull cycle in 2021, the Dogecoin price rallied to new ATHs, driven by broader market adoption, political influence, and other bullish factors. Cephii revealed on X that Dogecoin experienced a massive 1,100% pump just one week after the United States (US) Presidential inauguration in 2021. At the time, Dogecoin had eliminated one zero from its price, rising from $0.00684 to $0.0795.
Sharing two parallel charts of this bullish trend pattern, Cephii points out striking similarities between…more
Source bitcoinist.com
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