Crypto analyst Lebicahlz has predicted that the price of Dogecoin is set to witness a major explosion, which will send it all time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it meets new highs.
Dogecoin Price Set To Reach New ATHs
In a TradingView postLebicahlz said he believes the price of Dogecoin is poised to explode to new record highs. The analyst warned that the growth may not be that much past bull run. However, he added that Dogecoin looks like the best coin for 2025, as it has more room to run to the top.
The accompanying chart from the analyst showed that Dogecoin could reach as high as $20 next year. Such a parabolic rally could represent a price gain of about 4.900% from its current level. Based on the chart, this price increase could happen between early January 2025 and July.
Crypto analyst Javon Marks and recently echoed the same bullish sentiment on the price of Dogecoin, saying that historical data shows that the price of Dogecoin will face an increase of more than 75% to reach a new ATH. Marks predicted that the leading meme coin could be worth more than $3 and reach $15 “at a peak.”
Crypto analysts such as Trader Tardigrade have also previously predicted that the price of Dogecoin could reach double digits in this market cycle. Trader Tardigrade predicted that Dogecoin could reach as high as $30 if it foreshadows the 2021 bull run. In line with this, the analyst advised that investors should start looking to take profits when Dogecoin hits $10 and possibly continue to do so as the meme coin converges to $30.
DOGE Investors Are Growing Impatient
In X post, crypto analyst Ali Martinez pointed out that DOGE investors may be getting impatient with Dogecoin’s price action. This happened as the analyst pointed out that the Dogecoin market has turned negative. Based on this, the analyst noted that traders are losing patience during this ongoing price consolidation.
The price of Dogecoin has continued to rally around the $0.4 range for about a month now since converging between October and November. However, the crypto analyst Kevin Capital it gave some hope to those who might be bearish at the moment.
He said it was a dove Fed opinion in 2025 and the Bank of Japan’s decision not to raise rates could end any bearish indication. In line with this, the analyst noted that now is not the time to analyze the charts but instead focus on macroeconomic factors.
At the time of writing, the price of Dogecoin is trading around $0.38, down more than 4% 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
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