$20 DOGE ATH Price Target Comes to Light As Analyst Expects 120x Pump for Dogecoin

Bullish $20 DOGE ATH price target comes to light.

Analyst shares bullish observations on the DOGE price chart.

A massive 120x Dogecoin price pump could be a highly possible outcome.

Expectations for altcoin continue to climb as several bullish altcoins show bullish signals, indicating a surge towards much higher ATH targets this bull cycle comes to light. Amid the high expectations, one reputed analyst draws attention to highly potent memecoins that are now recognized as altcoins such as Shiba Inu (SHIB) and Dogecoin (DOGE).To highlight, this analyst believes that DOGE price could pump 120x to hit $20 targets.

$20 DOGE ATH Price Targets Come to Light

The long-anticipated altseason of this bull cycle has left many traders disappointed due to the slow and static performance of altcoins. Based on previous bull cycle data, altcoins have always experienced a significant surge in prices during Q1 following a Bitcoin Halving year. However, this time around, the market appears to have deviated from that historical trend, leading analysts to look closer at price charts instead.

To elaborate, instead of triggering an altcoin rally, the first quarter of this year saw Bitcoin hitting a new ATH target before just before entering an extended correction phase. Analysts suggest that the fact that the price of BTC set a new ATH before the Bitcoin Halving event may have been the major cause of this prolonged correction phase, thereby disrupting the typical four-year bull market cycle.

What’ more, another factor adds to the delay of altseason’s arrival. This has to do with the price action of the pioneer altcoin Ethereum (ETH). Specifically, Ethereum’s sluggish price action has led many analysts to state that altcoins generally don’t see major gains until Ethereum begins its own rally. Since ETH has yet to surpass its previous ATH during this cycle, the broader altcoin market has remained subdued.

When Will Altcoins Start to Pump?

Despite the slower pace, some experts view this correction phase as a healthy reset for the market. Bitcoin and Ethereum are currently addressing their CME gaps, which could pave the way for new highs soon. As Ethereum gains momentum, it’s expected to kick off the long-awaited altseason. In fact, several altcoins have already been showing signs of strength, sparking optimism for substantial gains as the peak of altseason approaches.

In particular, one of the most bullish altcoins for the coming altseason phase is Dogecoin (DOGE). As we can see from the post above, this reputed crypto analyst says that if DOGE price continues to follow its trend as it did consecutively in the past two cycles with its runs growing in size, then the price of DOGE could very well experience a pump towards $20 ATH prices by pulling a 120x rally.