Crypto analyst Javon Marks has made an ultra-bullish prediction for the Dogecoin price on this bull run. The analyst claims that the foremost meme coin might attain such bold heights based mostly on its efficiency in previous market cycles.
Dogecoin To Rise As Excessive As $17 In This Bull Run
Marks shared a chart on his X (previously Twitter) platform during which he predicted Dogecoin might get pleasure from a 21,700% value achieve and rise to $17. The analyst made this forecast based mostly on Dogecoin’s historical breakout trend, during which the meme coin has had bigger runs in each subsequent bull run.
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Throughout the 2017 bull run, Dogecoin is understood to have loved a value achieve of over 7,100%, whereas the meme coin made a value transfer of twenty-two,800% within the 2021 bull run. As such, Marks believes Dogecoin will make a bigger run on this bull run than the one in 2021, making the rise to $17 possible.
Nonetheless, a few of his followers believe that it’s unlikely that Dogecoin will rise to such heights since, based mostly on its current circulating supply, that might give the meme coin a market cap of over 2 trillion. As such, that has put a query mark on Marks’ bold value prediction, given how a lot the crypto market might want to explode earlier than DOGE can have such a market cap.
Nonetheless, different crypto analysts like Kevin (formerly Yomi OG) have shared bullish value predictions for Dogecoin, though nothing in comparison with Marks’. Kevin predicts that the foremost meme coin might rally to over $3 on this market cycle. He made this prediction whereas alluding to Dogecoin’s value motion in earlier cycles.
The analyst claimed that Dogecoin has by no means failed to satisfy or surpass the 1.618 Macro FIB extension measured from earlier bull market highs to bear market lows—Dogecoin’s present 1.1618 FIB stage is claimed to be at $3.80, that means that it might rise to this value stage on this bull run.
Extra Bullish Narratives For DOGE
Kevin revealed in a current X post that Dogecoin is creating “huge bullish divergence on the weekly Stoch RSI (Relative Strength Index).” He additionally famous that Dogecoin is presently forming a better low and added that the final time DOGE was at $0.08, the final time it crossed bullish. Primarily based on this, he claims large strikes are on the horizon for the foremost meme coin.
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Crypto analyst Crypto Kaleo additionally recently predicted that Dogecoin will outperform Bitcoin on this market cycle. He additional remarked that this can be a meme supercycle and that the “king of memes” wouldn’t be left behind. In one other X submit, he claimed that Dogecoin appears to be like prepared for that parabolic transfer to the upside.
Featured picture created with Dall.E, chart from Tradingview.com