Dogecoin Price Prediction: A 30% Crash Before A 1,300% Rally? Analyst Tells All
Release: 2024/05/26 11:04 Reading: 899
- Original author：Bitcoinist
- Original source：https://bitcoinist.com/?p=302090
The Future Trajectory of Dogecoin (DOGE)
The future trajectory of Dogecoin (DOGE) remains a topic of intense discussion, with crypto analysts speculating on the path ahead for the prominent meme coin. Crypto analyst Capt Toblerone's analysis has garnered significant attention, as DOGE's price movements have consistently aligned with his predictions.
DOGE's 30% Crash Still Anticipated
In an X (formerly Twitter) post, Capt Toblerone suggested that Dogecoin will experience a 30% price decline from its current level. He further indicated that the next "reload area" for DOGE is $0.108. From that point, he foresees a 1,300% rally, implying a potential 13x return from the reload area. src="/uploads/20240526/17166946736652ae910590f.png">
Targeting $1.5
A 1,300% surge for Dogecoin would propel the meme coin to a high of $1.5. This prediction aligns with other analysts, such as Ali Martinez, who anticipate DOGE reaching $1 during this market cycle. Additionally, crypto analyst Kevin (formerly OG Yomi) has suggested that Dogecoin's historical performance in bull markets supports the possibility of a rally above $3.
Potential Hindrances to $1
However, while Dogecoin appears poised for a parabolic move, Pav Hundal, lead analyst for Swyftx, has identified potential obstacles to the meme coin reaching $1. He notes that some Dogecoin holders purchased the coin at its peak during the previous bull run. Hundal believes these holders may seek to sell their holdings once DOGE reaches a new all-time high (ATH), potentially suppressing its upward momentum. Additionally, he suggests that the increased presence of other meme coins in the market may limit DOGE's ability to attract sufficient liquidity to reach $1.
Rebuttal from Rekt Capital
Crypto analyst Rekt Capital disagrees with Hundal's assessment. He characterizes Dogecoin as "one of the most cyclical altcoins in the space" and expects it to follow a parabolic trajectory, as it has in previous cycles.
Potential Drop to $0.10
Crypto analyst CrediBULL Crypto has also predicted a potential decline for Dogecoin, suggesting a drop to $0.10. However, he anticipates a temporary relief pump that could drive DOGE up to $0.18 before the downward trend resumes. He plans to short the meme coin at $0.18, targeting a price of $0.10.
Other Meme Coins Expected to Fall
CrediBULL Crypto's bearish outlook extends beyond Dogecoin. He predicts significant price declines for other prominent meme coins, including Pepe (PEPE) and Dogwifhat (WIF), due to their substantial rallies this year.
At the time of writing, Dogecoin is trading at approximately $0.16, representing a gain of over 4% in the last 24 hours, as per CoinMarketCap data. src="/uploads/20240526/17166946736652ae910590f.png">
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