Amazing Dogecoin (DOGE) Price Prediction: Is The Worst Finally Over?
TL; DR
Analysts are predicting that the value of Dogecoin will increase by as much as 500% and reach milestones like $1. While it hasn't joined the recent meme coin rally, DOGE's expected rally is bolstered by general market trends post-Bitcoin halving, which has already led to significant price increases in cryptocurrencies.
Is DOGE Preparing for a 500% Price Rally?
Several commemorative coins, including Shiba Inu (SHIB), Pepe (PEPE), Floki Inu (FLOKI) and Bonk Inu (BONK), performed well over the weekend along with their value. recording Double digit increases. However, Dogecoin (DOGE) – the largest asset of its kind in terms of market capitalization – was not among the finders.
The price is currently around $0.16 (according to CoinGecko), a 3% weekly drop and a 23% drop in the last 14 days.
One prominent analyst who believes the dog-themed token will soon break the negative trend is X user Ali Martinez. DOGE thinks it is currently in a consolidation phase after following a “descending triangle” earlier.
Based on its past performance, the analyst predicted that the asset's valuation could soon explode over 500% and reach the $1 milestone.
#Dogecoin is showing its classic pattern again! $DOGE is now consolidating after breaking out of a descending triangle.
Based on past trends, we may see #DOGE rocket to $1 in the coming weeks! pic.twitter.com/dEWeVWLIHR
— Ali (@ali_charts) April 21, 2024
Previous predictions and potential catalyst
Another analyst who recently weighed in on Doge's price action is JAVON MARKS. Earlier this month, the X user described the asset's correction as a “healthy comeback”, recalling its strong performance since early 2024. JAVON MARKS continued further, Guess A 315% rally to the $0.65 mark.
Mikubul Crypto and Trader Tardigrade also entered, with the former expecting that “the real bull run is about to begin,” while the latter He said he deserved it. Dogecoin runs a “7-year cycle”, meaning that a price explosion to the incredible $40 is not out of the cards.
It is an important component that can take DOGE's journey to new heights in the near future. Halving BitcoinIt happened a few days ago. The event has previously followed a huge surge in the entire cryptocurrency market, and many expect to see similar surges in the coming months.
Keep in mind that DOGE was worth less than $0.01 during the last halving in the spring of 2020, but the price is up over $0.65 a year later.
The post Interesting Dogecoin (DOGE) Price Prediction: Is The Worst Finally Over? First appeared on CryptoPotato.
