Dogecoin Price Prediction: Analyst Forecasts 5,200% Surge in DOGE Value
Dogecoin is gearing up for another potential rally, with one crypto analyst suggesting the meme coin could be on the verge of a staggering 5,200% surge. This bullish forecast has drawn attention from market enthusiasts, especially following DOGE’s recent 45% gain over just 10 days.
Currently priced at $0.1394, Dogecoin has risen by 1.4% in the past 24 hours. This increase may be linked to Bitcoin’s renewed volatility, as BTC recently jumped back above the $67,000 mark.
A 5,200% Upside for Dogecoin?
A prominent crypto analyst has predicted that DOGE could skyrocket by 5,202% during the upcoming bull market. Drawing from Dogecoin’s previous performances during Bitcoin’s bull runs, the analyst believes the token is on the verge of a breakout. In 2017, DOGE surged by 92X, and in the 2021 bull run, it exploded by 300X.
According to this expert, DOGE typically endures bear markets lasting around three years before seeing a major breakout. Before its 2017 rally, DOGE had been in a downtrend for 1,127 days, and before the 2021 run, the bear phase lasted 1,022 days. This time, Dogecoin was in decline for 1,190 days before its current breakout signal appeared.
A 5,200% surge from today’s price would place DOGE at an impressive $7.367.
Can DOGE Really Hit $7?
While a price of $7.367 for DOGE is theoretically possible, it faces challenges due to its substantial, inflationary supply. Dogecoin’s inflation rate is fixed at 5 billion new coins per year.
If the next bull run mirrors the one from 2016 and extends into January 2026, Dogecoin’s circulating supply would increase by 6.25 billion, reaching a total of 152.75 billion coins. At $7.367 per coin, Dogecoin’s market capitalization would surpass $1.1 trillion.
While this is ambitious, it’s not out of the question, as Bitcoin has previously reached and surpassed a similar market cap. With the global M2 money supply currently around $89 trillion, Dogecoin would command just 1.26% of the world’s money supply at this price.
Dogecoin’s Next Target: $0.18
In the short term, DOGE appears to be targeting $0.18. Technical analysis shows that DOGE has broken above both its 50-day and 200-day exponential moving averages (EMAs), signaling an upward trend. A bullish “Golden Cross” has also formed, with the 50 EMA crossing above the 200 EMA.
The next key resistance lies at $0.1495, the previous local high. Breaking above this level could see DOGE rise to $0.1625, and eventually to $0.1787, which aligns with the 0.27 and 0.618 Fibonacci extension levels. These moves would represent a 27% increase from the current price.
Coinglass data shows that derivatives traders remain optimistic about DOGE, even after a minor retracement. Strong support levels are evident between $0.13 and $0.1337, corresponding with the 0.387 Fibonacci retracement level. This bullish sentiment, coupled with whale accumulation, suggests that Dogecoin could be poised for further gains in the near future.
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