Cryptocurrency analyst Javon Marks Expect the price of Dogecoin to soon see a corresponding rise. This prediction comes after his analysis of Historical performance of the meme coinwhich he claimed could lead to prices rising by more than 400%.
The price of Dogecoin will reach an all-time high soon enough
Marks predicted in the X post that Dogecoin could reach its price Current all-time high (ATH) $0.73 as it enjoys a rapid rise of 431% from its current price. The analyst indicated that this price prediction depends on the price of the meme coin and previous performance in previous sessions. In line with this, Marks believes DOGE may be in the early stages of another parabolic round.
Based on Marks’ analysis, Dogecoin’s price rise to its current ATH is likely to be the start of its rally in this cycle. The analyst expects the price to rise beyond the $0.7 level and reach $3. This isn’t the first time Javon Marks has predicted DOGE will enjoy such a huge rally.
analyst I expected earlier That Dogecoin could enjoy a 21,700% rally to $17 based on the bull market trend. He noted that Dogecoin has always enjoyed greater price gains in each successive market cycle. As such, he doesn’t expect this time to be any different, with DOGE leading the recent cycle’s gains on this uptrend.
Cryptocurrency analyst Dima James too He recently echoed A similar sentiment, ensuring that DOGE will surpass its previous gains in the last two sessions and outperform Bitcoin in the process. James also believes that the price of Dogecoin could reach double digits with Target price is $10 In this market cycle.
Dogecoin is on the rise again thanks to Elon Musk
Dogecoin price Up more than 7% in the last 24 hours This price rise came after Elon Musk’s appearance at a Pennsylvania town hall, where he discussed his plans for the proposed Department of Government Efficiency (DOGE).
DOGE continues to respond positively to Musk’s mention of the DOGE division due to the world’s richest man’s ties to the meme currency. Dogecoin was too increased by more than 7% On October 16 after Musk mentioned the DOGE division in an X post.
Meanwhile, thanks to the recent rally, DOGE has reached its highest level since late July, sparking optimism that it is time for the meme coin to take off in this market cycle. The performance of the first meme coin so far has been less than expected compared to other meme coins such as Pepe (PEPE) and Dujoyvat (WIF).
At the time of writing, Dogecoin price is trading at around $0.13, rising over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com