Crypto analyst Javon Marks has made an ultra-bullish prediction for the Dogecoin price on this bull run. The analyst claims that the foremost meme coin could attain such ambitious heights based on its performance in previous market cycles.
Dogecoin To Rise As High As $17 In This Bull Run
Marks shared a chart on his X (formerly Twitter) platform by which he predicted Dogecoin could enjoy a 21,700% price gain and rise to $17. The analyst made this forecast based on Dogecoin’s historical breakout trend, by which the meme coin has had larger runs in every subsequent bull run.
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Source: X
Throughout the 2017 bull run, Dogecoin is understood to have enjoyed a price gain of over 7,100%, while the meme coin made a price move of twenty-two,800% within the 2021 bull run. As such, Marks believes Dogecoin will make a bigger run on this bull run than the one in 2021, making the rise to $17 feasible.
Nonetheless, a few of his followers imagine that it’s unlikely that Dogecoin will rise to such heights since, based on its current circulating supply, that will give the meme coin a market cap of over 2 trillion. As such, that has put a matter mark on Marks’ ambitious price prediction, given how much the crypto market might want to explode before DOGE can have such a market cap.
Nonetheless, other crypto analysts like Kevin (formerly Yomi OG) have shared bullish price predictions for Dogecoin, although nothing in comparison with Marks’. Kevin predicts that the foremost meme coin could rally to over $3 on this market cycle. He made this prediction while alluding to Dogecoin’s price motion in previous cycles.
The analyst claimed that Dogecoin has never failed to satisfy or surpass the 1.618 Macro FIB extension measured from previous bull market highs to bear market lows—Dogecoin’s current 1.1618 FIB level is alleged to be at $3.80, meaning that it could rise to this price level on this bull run.
More Bullish Narratives For DOGE
Kevin revealed in a recent X post that Dogecoin is creating “massive bullish divergence on the weekly Stoch RSI (Relative Strength Index).” He also noted that Dogecoin is currently forming a better low and added that the last time DOGE was at $0.08, the last time it crossed bullish. Based on this, he claims big moves are on the horizon for the foremost meme coin.
Source: X
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Crypto analyst Crypto Kaleo also recently predicted that Dogecoin will outperform Bitcoin on this market cycle. He further remarked that this can be a meme supercycle and that the “king of memes” wouldn’t be left behind. In one other X post, he claimed that Dogecoin looks ready for that parabolic move to the upside.
DOGE price trends below $0.15 | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com