Is A New Dogecoin (DOGE) Bull Run On The Horizon? These analysts think

TL; DR

Dogecoin has a 10% weekly price drop after a recent bull run following a broader market correction. The forecast for the price of DOGE includes significant increases, with discussions on the potential to reach a new ATH.

Dogecoin (DOGE) is one of the most affected cryptocurrencies (from the top 10 list) of the latest market correction, with its price dropping by 10% every week. Recall that several days ago, the situation was completely different and the price of Mem Coin rose above $0.22 for the first time since November 2021.

Many analysts believe that DOGE will soon come back and rally to new highs. One example is the creator of crypto content using the X handle Trader Tardigrade, which recently He said he deserved it. That Dogecoin runs a “7 year cycle”. To set $2, $9, and even $40 as future price tags by comparing the property's price performance to years ago:

“In the first half of the current cycle we can see a similar price action compared to the last cycle. When we were at $0.0007 in 2017, we never believed that DOGE would rise to $0.003, $0.009 and $0.35. Today we are at $0.22, DOGE We don't believe it will be $2, $9 and $40. Don't miss the opportunity. History repeats itself.

Another crypto enthusiast with half a million followers – Maine – touched on the asset's current market performance and speculated on two possible scenarios. DOGE could lose support around $0.18 and “enter a very large correction, or bulls come in and “the party goes on.”

$DOGE

Big spot here for Doge imo.

Bulls really want this area to hold, I think a loss of support here will open the door for a big correction.

RR is biased positively for a long time, if we hold that old high and the party continues. pic.twitter.com/HgSX60XuXv

— Mayne (@Tradermayne) April 3, 2024

Earlier, Rect Capital and early Bitcoin developer DaVinci Jeremy also expressed bullish predictions. The former He argued Due to the beginning of the new “macro trend”, DOGE may reach $0.30, but the latter Comment That meme coin is an asset investors should have in their portfolios.