Dogecoin’s Lunar Ascent? Crypto Analyst Makes Bold DOGE Price Prediction, Proposing a Possible 27,000% Increase

Crypto News– A cryptocurrency analyst, AMINSHEYBANI, has made an audacious price prediction for the meme-inspired cryptocurrency Dogecoin ($DOGE), envisioning a remarkable 27,000% surge in its value. The analyst shared a chart on TradingView titled ‘Doge to the moon,’ suggesting a potential support level at $0.058 as the foundation for a massive rally that could drive DOGE to $16 per token, translating to a 27,500% increase.

Dogecoin’s Lunar Ascent? Crypto Analyst Makes Bold DOGE Price Prediction, Proposing a Possible 27,000% Increase

If this surge materializes, it would surpass Dogecoin’s previous all-time high. The meme-inspired cryptocurrency’s market capitalization would then skyrocket to $2.26 trillion, significantly exceeding the market capitalization of both Bitcoin and Ethereum, which are currently at approximately $575 billion and $193 billion, respectively. It’s essential to note that this price prediction stands far apart from those of other analysts, as some have forecasted a 170% increase for DOGE to reach around $0.17 by April 2024.

It’s worth mentioning that Dogecoin is part of the cryptocurrency assets held by the San Francisco-based financial services firm SoFi, which disclosed ownership of a total of $166 million in cryptocurrencies.

Out of this portfolio, $82 million is allocated to Bitcoin, with an additional $55 million invested in Ethereum, the second-largest digital currency by market capitalization. SoFi also holds approximately $4.5 million worth of Cardano and roughly $4.9 million in the meme-inspired cryptocurrency DOGE.