Crypto analyst Javon Marks predicted that the price of Dogecoin will soon witness a parabolic run. This prediction follows his analysis historical performance of meme coinwhich he said could lead to a price rally of over 400%.
Dogecoin Price To Reach All-Time High Soon Enough
Marks predicted in X’s post that the price of Dogecoin could reach it high-time high (ATH) of $0.73 as it enjoys a rapid rally of 431% from its current price. The analyst noted that this price prediction is based on the meme coin’s price and previous performance in previous cycles. Accordingly, Marks believes that DOGE may be in the early stages of another parabolic run.
Based on Marks’ analysis, Dogecoin’s price rally to its current ATH will likely be the beginning of its bull run this cycle. The analyst predicts that the premium will rise above the $0.7 price level and reach as high as $3. This is not the first time Javon Marks has predicted that DOGE would enjoy such a large meeting.
Analyst which was predicted earlier that Dogecoin could enjoy a 21,700% rise to $17 based on its bull market trend. He noted that Dogecoin has been enjoying significant value gains throughout successive market cycles. As such, he doesn’t expect this time to be any different, as DOGE is raising its last-cycle gains in this bull run.
Crypto analyst Dima James too echoed later similar sentiments, asserting that DOGE will surpass its previous gains in the last two cycles and overtake Bitcoin in the process. James also believes that the price of Dogecoin could reach double digits by suggested price of $10 in this market cycle.
Dogecoin Rallies And Thanks To Elon Musk
Dogecoin price increased more than 7% in the last 24 hours. The price meeting followed Elon Musk’s appearance at a Pennsylvania town hall, where he discussed his plans for a proposed ‘Department of Government Operations’ (DOGE).
DOGE continues to respond well to Musk’s talk of the DOGE department because of the world’s richest man’s ties to the meme coin. Dogecoin had it too up 7% on October 16 following Musk’s talk about the DOGE department on the X post.
Meanwhile, thanks to the most recent rally, DOGE reached its highest level since late July, raising hopes that it’s time for the meme coin to be active in this market cycle. The leading meme coin so far has underperformed compared to other top meme coins such as Pepe (PEPE) and Dogwifhat (WIF).
At the time of writing, the price of Dogecoin is trading around $0.13, the highest in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
Source link