A crypto analyst has predicted that Dogecoin (DOGE), the world’s largest meme coin by market capitalization is about to rally 6,800% to a brand new all-time excessive of $6.9. Whereas the analyst maintains a extremely bullish outlook on DOGE’s worth, he underscores that the cryptocurrency should first fulfill sure circumstances to appreciate this formidable goal.
Roadmap For Dogecoin’s 6,800% Rise To $6.9
On August 18, a crypto analyst recognized as ‘Grasp Kenobi’ took to X (previously Twitter) to share his bullish projections for Dogecoin. He unveiled a historic chart of Dogecoin’s worth actions from 2015 to 2025, highlighting completely different coloured traces that point out Dogecoin’s subsequent worth goal.
Based mostly on his chart evaluation, the analyst means that DOGE might have a regular rise in worth because the years go by. He believes that DOGE’s worth is rising at a tempo the place it’d rise sufficient to “lower a zero” each 4 years.
Grasp Kenobi has indicated that Dogecoin’s development pattern might proceed, with the cryptocurrency anticipated to achieve $2.2 throughout the subsequent 4 years. He additionally forecasts a dramatic 6,800% surge within the following 4 years, doubtlessly driving DOGE’s worth to $6.9.
He additional warned the broader crypto group members that this can be the final time the favored meme coin could be buying and selling at such a low worth of $0.1.
In one other X submit, Grasp Kenobi declared that DOGE was his greatest guess on this current market cycle. He outlined a number of causes for being bullish on the dog-themed memecoin.
Firstly, the analyst regarded Dogecoin because the second most trustworthy chain after Bitcoin (BTC), the world’s largest cryptocurrency. He disclosed that the dog-themed meme coin has one of many longest histories within the crypto area and has grown to turn out to be a considerably fashionable digital asset within the business.
Moreover, Grasp Kenobi predicts that Dogecoin has the potential to extend its worth tenfold. He additionally famous that if any cryptocurrency moreover Ethereum (ETH) or Bitcoin had been to obtain an Change Traded Fund (ETF), it will more than likely be Dogecoin.
DOGE Worth Evaluation
Within the final 24 hours, DOGE has skilled a big enhance in worth, underscoring its potential for a worth turnaround amidst present market circumstances. CoinMarketCap’s information reveals that Dogecoin is at the moment buying and selling at $0.105, marking a 5.31% enhance in simply someday.
Though the favored meme coin appears to be displaying sturdy worth fundamentals, a crypto analyst recognized as ‘Kaleo’ on X has supplied a short replace on the meme coin, noting that there haven’t been any important modifications within the cryptocurrency’s worth just lately.
Kaleo predicts that within the coming months, Dogecoin’s worth will seemingly stay stagnant, transferring slowly between $0.085 and $0.11 with lowering volatility. He expects this era of low exercise to proceed till market circumstances enhance. Consequently, he has really useful that traders “stack and maintain” their DOGE investments.
Featured picture from Adobe Inventory, chart from Tradingview.com
