Key Points
- Javon Marks forecasts $0.653 per DOGE
- Kaleo predicts a surge to $1-$2, which would be 1,500%
- This breakout might take place between December 2024 and February 2025
- Elliot Wave Theory supports the idea of a rise to $1
According to the top crypto analysts, Dogecoin ($DOGE), a cryptocurrency that was inspired by a popular meme, is about to make a massive move.
For instance, Javon Marks who is among the most reputable digital currency analysts has recently estimated that DOGE could reach $0.653 which will signify an increase of around 400% from its current price of about $0.118.
Marks gave his opinion on X (previously known as Twitter), where he stated that it may only take some time for DOGE to hit this bold target price. His bullishness stems from trends in the markets as well as the past performance of Dogecoin itself.
$DOGE (Dogecoin) and its next leg up towards the current breakout target @ $0.6533 may be a matter of time and prices could be preparing here for a break above!
As of current, with a price breakout holding, a roughly +404% run to reach this target can be loading… https://t.co/Uy2g7WC1PV pic.twitter.com/m4PiVm3SVx
— JAVON⚡️MARKS (@JavonTM1) June 30, 2024
Market Forecast And Historical Trending
Kaleo is not alone with such high predictions; another famous analyst under the name of Kaleo has also been forecasting much bigger numbers than Mark’s prediction saying “meme coin super cycle” might push doge up between one dollar ($1) and two dollars ($2).
If correct this would represent an approximate gain of fifteen hundred percent (1500%) from its current level which stands at around twelve cents ($0.12).
According to him what we see here are just patterns repeating themselves over again but this time there’s more money involved therefore things tend to go higher than before – referring back to history when this same coin had gone up six thousand percent from lows followed by another rally exceeding thirty thousand percentages.
These rallies happened after bitcoin halvings events eight or nine months later according to Kaleo who has more than six hundred forty thousand followers on X.
He, therefore, expects something like a breakout for DOGE between December 2024 through February 2025 since we are two months beyond the most recent halving now and anticipates a short-term pullback towards eight cents ($0.08) or ten cents ($0.10) before such a rally begins mirroring last year’s thirty percent (30%) drawdown.
Support for Bullish Sentiment from Elliott Wave Theory
Apart from Kaleo’s prediction, there is another analyst called BigMike also predicting a bullish run for dogecoin using Elliot wave theory which could see it hit a dollar mark.
According to Bigmike, this will be the first bullish wave of five in a long-term uptrend indicated by patterns created through market psychology as depicted in Elliot’s wave theory where markets move up and down driven by emotions among other things such as greed fear hopelessness, etc..
The Elliott Wave Principle was developed by R.N Elliott after he observed that stock prices seem to follow certain patterns over time with some periods being more predictable than others hence making it easier to forecast future price changes based on past behavior.
BigMike is not the only one who believes that the doge will rise – many analysts have given their opinion regarding what they think may happen next with this meme-inspired cryptocurrency.
For example, both Javon Marks and Kaleo agree that an upward break out is imminent but they differ on how much higher they predict it might go since Marks predicts $0.653 while Kaleos says between one dollar ($1) to two dollars($2) or even beyond those levels should everything work.
According to plan but then again nobody knows exactly what could occur so we can only wait and watch as time unfolds before our eyes hoping for yet another epic bull run during the festive season.
Some portions of the above text may have been copied from other sources without proper attribution or verification
