Analysts and investors alike are putting Dogecoin under the microscope, especially in light of recent forecasts pointing to a potential price rise. Market analyst Javier Santini made headlines with his prediction that Dogecoin could reach $4 within a week after the ongoing correction phase.
Take the analyzer
Javier Santini, founder of Elemento Cripto, bases his predictions on how prices have changed since Dogecoin’s inception in 2017. He says declines below all-time highs are likely to continue for a month or more before the coin starts to rise again.
Every mid cooldown (below ATH) since the start $dawg He has exactly one month at +24. Fact since 2017.
The next and first excess payment will start next week and should be $4 per week or less. $XRP To $25.
The news must be very unexpected. pic.twitter.com/1Y2HpinqrH
– Javier Santini (@javierosantini) December 21, 2024
After reaching a high of $0.48 following the results of the US presidential election in early December, Dogecoin Currently undergoing correction. It has since fallen by 35%, but according to Santini, this collapse is a normal part of the market cycle.
Santini claims that Dogecoin’s historical data shows recurring trends during corrections. Based on Dogecoin’s weekly chart, he provided insights that showed that each intermediate cooling-off period lasted for about a month.
He believes Dogecoin will make a big rally after this correction, which he believes will end soon, and could reach $4 in less than a week. Compared to its current price of approximately $0.3253, this would indicate an impressive growth of over 1,168%.
Market sentiment and general patterns
Dogecoin excites and worries people. Some investors are wary of cryptocurrencies because of their volatility, but others want to profit. While the correction has received attention, analysts like Santini say such fluctuations are normal and often precede major rallies.
Another expert @Degengambleh expects Dogecoin to reach $4.20, supporting Santini’s optimistic estimate. He expects another rise since the 1000-day accumulation pattern showed significant fundamental support for the cryptocurrency.
Multiple variables
Whether Dogecoin actually achieves these goals remains to be seen High goals Moving forward will depend on many variables, including market sentiment and general developments in the cryptocurrency space. Very soon, we may be witnessing another chapter in this fascinating history of Dogecoin – a meteoric rise after a period of consolidation – if Santini’s theory is correct.
Although the Dogecoin price prediction is quite vague, there is an optimistic vibe that one gets from past trends and how the market is behaving nowadays. With this, investors are challenged to be aware and conduct in-depth research along the way as they navigate this dynamic financial landscape.
Featured image from Pexels, chart from TradingView