Dogecoin Revisits December 2020 Prices—Could Another 36,000% Mega Rally Be Brewing?
Dogecoin just flashed a price level not seen since December 2020—back when Elon Musk’s tweets could still move markets. The meme coin’s nostalgic trip sparks one burning question: Is another ludicrous 36,000% surge on the cards?
Market Déjà Vu
The charts look eerily familiar. Same price range. Same retail investor frenzy. Same crypto Twitter hype cycle. Only this time, DOGE faces stiffer competition from a zoo of newer meme coins—each dumber than the last.
Greed vs. Gravity
History says Dogecoin’s 2021 moonshot was a perfect storm of stimulus checks, lockdown boredom, and Musk-fueled mania. Repeating that feat would require Wall Street to somehow get even dumber—a frighteningly plausible scenario.
The Bottom Line
While DOGE’s return to 2020 levels has bagholders dreaming of Lambos, remember: most ‘fundamental analysis’ in crypto is just people drawing rockets on price charts. Proceed with caution—your portfolio isn’t a casino (no matter what your trading app wants you to think).
Dogecoin Price Returns To Levels Before 36,000% Rally
In an X post, CryptoKaleo outlines the fact that the dogecoin price has been trending similarly to where it was back in 2020. In particular, the Dogecoin price was struggling in December 2020, but this was just before the legendary 36,000% surge that had been kick-started by billionaire Elon Musk posting about the meme coin on his X (formerly Twitter) post.
Back then, the price had been struggling after its previous all-time high, following a trend line straight down. This was until it hit another upward momentum, followed by a downtrend, which marked the end of the price decline. At this point, the bottom signaled the start of the next rally.
Now, once again, the Dogecoin price is beginning to mark another bottom after an initial breakdown within this trendline. According to the analyst, this puts the Dogecoin price right in the same place where it was back in December 2020.
If it follows the same trend as it has been doing, then the meme coin could be getting ready to see a parabolic rally. From the analyst’s chart, the $1 mark is a no-brainer, with a possible top being as high as $2.4 before the trend is completed.
Can The DOGE Price Rally 36,000% Again?
The last time that the dogecoin price broke out of this trend, it ended up rallying by 36,000% over the next few months. This opens up the possibility that a similar rally could be in the cards. However, multiple developments over the last few years suggest that this is not possible.
For one, a 36,000% rally from here WOULD mean that the price would rise as high as $72, meaning that the Dogecoin market cap would have to rise above $2 trillion. This is highly unlikely given that the DOGE supply is always rising and remains unlimited. More than likely, the $1 mark would mark the beginning of the end of the Dogecoin price rally.
