Javon Marks, a seasoned crypto analyst, places Dogecoin, the eminent meme coin, on a trajectory with the potential to surmount an ultra-bullish summit during this current bull run. Marks predicates his sweeping prediction on a painstaking analysis of the meme coin’s historical lapses and surges in the crypto market.
Embedded in his observations is the speculation that Dogecoin could see an unprecedented rise to around $17. This prediction, as opulent as it appears, is rooted deeply in an understanding of Dogecoin’s historical breakout trend, a trend that has seen exponential growth in each succeeding bull run.
A deep dive into the 2017 bull run affirms that Dogecoin managed to impact a price increase of over 7,100%. Yet, the meme coin didn’t let up, recording an even larger price upswing of 22,800% in the 2021 bull run. With an outstanding track record like this, it’s understandable why Marks holds steadfast to the belief that Dogecoin can and will make a grander run in the current bull run, making the vibrant leap to $17 entirely plausible.
Despite Marks’ impressive forecast, a group of his followers voice concern, expressing doubts about the feasibility of Dogecoin reaching such astral heights. Their argument takes into consideration Dogecoin’s current circulating supply, pointing out that a rise to this predicted value would necessitate a market cap of over 2 trillion. This throws into question the viability of Marks’ ambitious enchmark, highlighting the immense surge the crypto market would need to undergo for DOGE to even come close to such a market cap.
Regardless of the skepticism, other crypto pundits also proffer bullish price guesses. Noteworthy among them is Kevin, who predicts an ascent to over $3 for Dogecoin in this market cycle. In forming such a prediction, he calls attention to Dogecoin’s earlier price actions, claiming a tryst with the 1.618 Macro FIB extension is within reach in the current bull run, the repercussion of which could see Dogecoin touch the $3.80 price point.
Kevin paints an optimistic picture of one of the most popular cryptocurrencies in a recent interview. He suggests that Dogecoin currently exhibits a ‘massive bullish divergence on the weekly Stoch RSI (Relative Strength Index), an indicator that bodes well for the next round. Coupled with the revelation that the meme coin is forming a higher low, Kevin asserts such indicators bode well for the ‘king of memes’, predicting seismic shifts could be looming on the cryptocurrency horizon.
Along with Kevin, Crypto Kaleo, another analyst who is in favor of a bullish narrative for Dogecoin, suggesting it may outperform Bitcoin in this market cycle. His proclamations, cloaked with an aura of optimism, hail Dogecoin positively positioning itself for an impressive parabolic move to the upside.
As crypto analysts prepare for the next round, it’s clear that this market cycle will undoubtedly be interesting. Despite varying viewpoints, the apparent consensus is that Dogecoin is worth keeping a close eye on, as its price trends currently hover around $0.15, primed and ready for the alleged breakout. As stakes remain high, the crypto world waits with bated breath to see who amongst these analysts’ predictions will hit the bull’s eye.
