A crypto analyst has predicted that Dogecoin (DOGE), the world’s largest meme coin by market capitalization is ready 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 bold 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.
Primarily based on his chart evaluation, the analyst means that DOGE may have a regular rise in worth because the years go by. He believes that DOGE’s worth is growing at a tempo the place it’d rise sufficient to “minimize a zero” each 4 years.
Grasp Kenobi has indicated that Dogecoin’s progress development may proceed, with the cryptocurrency anticipated to succeed in $2.2 throughout the subsequent 4 years. He additionally forecasts a dramatic 6,800% surge within the following 4 years, probably 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 largest wager 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 sincere 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 into a considerably standard digital asset within the trade.
Moreover, Grasp Kenobi predicts that Dogecoin has the potential to extend its worth tenfold. He additionally famous that if any cryptocurrency apart from Ethereum (ETH) or Bitcoin have been to obtain an Change Traded Fund (ETF), it will almost certainly be Dogecoin.
DOGE Worth Evaluation
Within the final 24 hours, DOGE has skilled a major enhance in worth, underscoring its potential for a worth turnaround amidst present market circumstances. CoinMarketCap’s knowledge reveals that Dogecoin is at the moment buying and selling at $0.105, marking a 5.31% enhance in simply in the future.
Though the favored meme coin appears to be displaying sturdy worth fundamentals, a crypto analyst recognized as ‘Kaleo’ on X has offered a short replace on the meme coin, noting that there haven’t been any vital modifications within the cryptocurrency’s worth not too long ago.
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. In consequence, he has beneficial that buyers “stack and maintain” their DOGE investments.
Featured picture from Adobe Inventory, chart from Tradingview.com
