Despite recent struggles in the cryptocurrency market, Dogecoin (DOGE) is still in what one market expert calls the “DOGE season.”
According to Trader Alan, the meme coin is experiencing a temporary retracement, but a new surge is expected soon.
Dogecoin Faces Short-Term Decline
Since January 18, 2025, Dogecoin has experienced a nearly 40% decline, along with the broader market downturn that has affected many altcoins. However, Trader Alan remains confident that Dogecoin’s bull run is far from over.
“DOGE Season” Still Alive
In his latest report, Alan explained that the pullback is just part of the ongoing “DOGE season,” a phase characterized by explosive price movements for the meme coin.
Referring to Dogecoin’s historical performance, Alan believes that this period of price drops is temporary, and the altcoin will soon rise again.
“You can’t chase it once it starts moving,” Alan warned, suggesting that now could be the best time for investors to enter the market before the price skyrockets again.
Dogecoin’s History of Explosive Gains
Dogecoin has experienced several notable price surges in the past. The first “DOGE season” occurred in the 2017/2018 bull market, where Dogecoin rose from $0.00021 in February 2017 to $0.0187 in January 2018, marking an 8,804% increase.
Following this, Dogecoin fell into a bear market but revived again in late 2020. From a low of $0.00266, Dogecoin surged to its all-time high of $0.74 in May 2021, driven in part by social media support from Elon Musk. This rally saw an incredible 27,719% gain.
Since then, Dogecoin has experienced a retracement but started recovering in late 2023. Now, despite the current pullback, Alan suggests that Dogecoin is still within the “DOGE season” and could soon recover to new highs.
Could Dogecoin Hit $2.2?
Alan’s analysis points to a potential price target of $2.2 for Dogecoin, which would represent a 3,766% increase from its October 2023 low of $0.0569. This prediction aligns with other analysts who have suggested Dogecoin could surge to around $2.29 in the near future.
At its current price of $0.2544, Dogecoin would need a 764% increase to reach the $2.2 mark. While it’s unclear when exactly this surge will happen, the possibility of another major rally remains strong for many experts.
