Recent technical analysis of the monthly Dogecoin price chart suggests that the meme coin could be preparing for another parabolic rally. This time, the cryptocurrency could be setting the stage for a swift move toward the $10 mark, according to crypto analyst Dima Potts.

As the fourth year of the current 4-year cycle draws to a close, interest in Bitcoin (BTC) and altcoins is heating up once again. This period has historically been marked by major price explosions, and if history repeats itself, we could witness the beginning of another parabolic trend.

At least that’s the prediction made by crypto analyst Dima Potts, who uses the initials D.M on X (formerly Twitter). Sharing a monthly chart of Dogecoin using Heikin Ashi candlesticks, Potts highlights interesting patterns in the meme coin’s past movements in 2017 and 2021. During these bull market periods, Dogecoin experienced parabolic rallies that saw its price surge as high as 37x from cycle lows.

The analyst uses curved green and red lines to highlight the accumulation and breakout phases of these cycles. The vertical green lines mark the points where this explosive move began, aligning closely with Bitcoin’s post-halving price rallies. Meanwhile, the purple boxes highlight the previous bull rallies, each breakout signaling a clear move past the accumulation zone.

The white arrow and vertical green line in Potts’ chart analysis show that Dogecoin is nearing the end of its current cycle, suggesting that another parabolic breakout could occur soon. If history were to repeat itself, the analyst predicts that Dogecoin could experience its next major breakout move in April 2025.

After this breakout, the meme coin could continue its explosive growth throughout the rest of the year. If Dogecoin follows its past 37x growth pattern, its price could close the daily candle on December 31, 2025, to reach an all-time high of $11.71.

Potts adds that $11.71 may not be the price peak of this market cycle, as each fourth year, Dogecoin has progressively delivered stronger price rallies.

Potts says bullish factors like heightened institutional interest, increasing global adoption, and technological progress will be major contributors to Dogecoin’s bullish performance this cycle.

In other news, another crypto analyst, Ali Martinez, predicts that Dogecoin could be setting up for a strong price rally if demand increases. According to the analyst, the DOGE price has been moving within an Ascending Channel since 2015.

While the lower boundary of this Ascendent Channel acts as strong support, the mid-line represents a key resistance zone, and the upper boundary marks the potential peak of Dogecoin’s price movements.

Currently, DOGE has been respecting these key support and resistance levels by bouncing off the 0.618 Fibonacci level. However, the chart suggests that a breakout above 0.786 Fib could trigger a rally toward 1.0 Fib or higher. This level aligns with a price range of $0.4 – $7.