Crypto analyst Kevin (previously OG Yomi) has made a bullish case for Dogecoin (DOGE). Based mostly on his evaluation, the foremost meme coin may replicate its 2021 bull run when it loved a worth achieve of 18,000%.
Dogecoin May Quickly Replicate Its 2021 Bull Run
Kevin advised in an X (previously Twitter) put up that Dogecoin may quickly replicate its 2021 run when it made a worth achieve of 18,000%. This got here following his assertion that DOGE is 2 to 3 weeks away from reaching its first weekly golden cross in 4 years. The analyst famous that the meme coin went “parabolic” for six straight months and loved a worth rally of 18,000% the final time this occurred in 2021.
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Crypto analysts like Javon Marks have additionally raised the potential of Dogecoin replicating its 2021 run and even surpassing it at completely different factors on this market cycle. Marks predicted that the foremost meme coin may take pleasure in a worth rally of over 21,000% in this bull run and rise to $17. This prediction relies on Dogecoin’s historic breakout development, through which the meme coin has loved extra important worth rallies in each subsequent bull run.
Extra not too long ago, Marks acknowledged that Dogecoin’s rise to $0.6533 is simply a matter of time and that the meme coin may take pleasure in a 90% worth rally to $1.25. Whereas the analyst’s worth prediction of $17 is undoubtedly bold since it’ll give Dogecoin a market cap of about $2.4 trillion, the value goal of $1 appears to be like extra possible, and this can be a worth stage that another analysts, like Altcoin Sherpa, have agreed that DOGE can attain.
Within the meantime, traders hope that Dogecoin can efficiently obtain the Golden Cross and that historical past will repeat itself. DOGE is effectively in want of such a transfer, contemplating how the foremost meme coin has underperformed compared to different main meme cash like Pepe (PEPE), Floki (FLOKI), and Dogwifhat (WIF).
One Final Alternative To Purchase DOGE
Crypto analyst The Cryptomist not too long ago advised that traders can have one final alternative to purchase Dogecoin at a reduction earlier than it makes its parabolic transfer. Based mostly on a rising wedge sample highlighted on Dogecoin’s chart, she predicts that the foremost meme coin will nonetheless drop to as little as $0.08 and presumably $0.05.
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Nevertheless, she is bullish on Dogecoin long-term, stating that the foremost meme coin has a “excessive likelihood” of reaching $1 this yr. Crypto analyst Crypto Kaleo additionally not too long ago predicted that Dogecoin may drop to as little as $0.08 earlier than it runs to $1.
On the time of writing, Dogecoin is buying and selling at round $0.129, up over 4% within the final 24 hours, in line with knowledge from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com