Cryptocurrency analyst Javon Marks He made a very bullish prediction for Dogecoin price In this bull race. The analyst claims that the first memecoin could achieve such ambitious heights based on its performance Previous market cycles.
Dogecoin will rise to $17 in this rally
Marx subscriber A chart on his platform The analyst made this forecast based on… Dogecoin historical breakout trendas the meme made a greater number of spins in each subsequent bull run.
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During the 2017 uptrend, Dogecoin is known to have had price gains of over 7,100%, while the memecoin had a price movement of 22,800% in the 2021 uptrend. As such, Marks believes Dogecoin will have greater success in this regard The bull ran Compared to 2021, making a rise to $17 possible.
However, some of his followers Believes It is unlikely that Dogecoin will rise to such heights since then, based on this Current circulating supplyThis would give the meme a market value of more than $2 trillion. As such, this put a question mark over Marks' ambitious price forecast, given how much the cryptocurrency market needs to explode before DOGE can command such a market capitalization.
However, other cryptocurrency analysts like it Kevin (formerly Yomi OG) We've shared our bullish price forecast for Dogecoin, although it's nothing compared to Marks. Kevin pridect The first meme coin could rise to more than $3 this market cycle. He made this prediction while alluding to Dogecoin's price action in previous sessions.
The analyst claimed so Dogecoin It has never failed to meet or exceed the 1.618 Macro FIB extension measured from previous bull market highs to bear market lows – Dogecoin's current 1.1618 FIB level is said to be $3.80, meaning it could rise to this price level in this trend Bullish.
More bullish narratives for DOGE
Kevin revealed recently Share X That Dogecoin is creating “massive bullish divergence on a weekly level RSI Stoch Indicator (Relative Strength Index)He also pointed this out Dogecoin It is currently forming a higher low and added that the last time DOGE was at $0.08 is the last time it crossed the uptrend. Accordingly, he claims that there are big moves on the horizon for the first meme coin.
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Crypto Kaleo cryptocurrency analyst as well I predicted recently That Dogecoin will outperform Bitcoin this market cycle. He further noted that this is a super meme cycle and that the “King of Memes” will not be left behind. And in another X post, he claimed Dogecoin appears to be ready for this parabolic move to the upside.
Featured image created with Dall.E, chart from Tradingview.com
