Kevin the Crypto Analyst (Former OG Yomi) suggested: Dogecoin (DOGE) This could result in a 2,500% increase. bull cycle. As part of his analysis, he highlighted the key price targets that Memecoin can achieve in this bull run.
Why Dogecoin could exceed $3
Kevin explained in a post on X (formerly Twitter): top meme coin It has never failed to “meet or exceed the 1.618 macro FIB expansion measured from”. previous bull market Fall from high to market low. He further revealed that the current 1.1618 FIB on DOGE’s chart is $3.80, which could meet or exceed this price level.
Cryptocurrency analysts say the reason Dogecoin reaches such heights in this bull market than in previous cycles is “due to market cap and capital saturation” as more meme coins hit the market. He acknowledged that it could be more difficult. However, he noted that it is still a likely outcome based on Dogecoin’s historical performance.
Based on this past performance, Kevin also outlined other “notable” price targets of $0.95 and $1.35, even if Memecoin doesn’t rise to $3.Kevin’s analysis, along with several other crypto analysts, gives us a more bullish outlook on Dogecoin. have already predicted It could rise to $1 at some point in this cycle.
Kevin is one of those who remains bullish on Dogecoin despite its recent price performance.he was suggested Meme coins will soon overcome this downward trend. Says “We still have several weeks of upside left before we reach this bull market milestone.”
Crypto analyst too recently spoke A monthly close above $0.16 is required to confirm Dogecoin’s bullish streak. A close above that level would “confirm a full retest of the previous bear market cumulative range” and strengthen “monthly momentum for further upside,” he said.
Total crypto market cap currently at $2.2 trillion. Chart: TradingView
Another look at Dogecoin price trends
Pav Hundal, principal analyst at Australian exchange Swyftx, said: recently warned Dogecoin may not ultimately reach $1 as many people imagine.He explained that meme coins could face serious problems selling pressure From crypto investors who bought DOGE at the peak of the last market cycle, when DOGE hit an all-time high (ATH) of $0.73, it is on its way to that price level.
These investors may be aiming to break even once dogecoin Reaching the new ATH could derail the rally to $1. Like Kevin, Hundal also meme coin market And we will also discuss the possibility that Dogecoin will not receive the same interest as in previous cycles.
At the time of writing, Dogecoin was trading at around $0.145, down more than 3% in the past 24 hours, according to . data From CoinMarketCap.
Featured images from Pexels, charts from TradingView
