A trading analyst has highlighted a strong cyclical correlation between Dogecoin (DOGE) and XRP, pointing to nearly identical multi-year structures that could shape the meme coin’s next major move.
According to TradingShot’s outlook shared in a TradingView post on March 2, if the pattern plays out, Dogecoin could target the coveted $1 level.
The comparison focuses on how both cryptocurrencies behaved after failing to post new all-time highs during their respective bull cycles.
Dogecoin did not break to a fresh peak during the 2023–2024 rally, mirroring XRP’s failure to set a new high in its 2019–2021 cycle. In both cases, rejection at prior highs was followed by extended corrective phases within large symmetrical triangle formations.
DOGE/XRP price analysis chart. Source: TradingView
DOGE’s next big target
On the monthly chart, Dogecoin is trading near its 100-month moving average (MA) and the lower boundary of its long-term triangle, while the 50-month moving
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