Dogecoin price was at a crazy check-in routine from the beginning of November. This trend, caused by the increase in activity, has seen the price of Dogecoin now trade in 2024 high. Notably, the price of Dogecoin recently achieved a milestone by reaching the $0.30 mark, a level not seen since August 2021.
As it stands, the price of Dogecoin can too we quickly reached a new peak. However, the next few days will be crucial in determining how this plays out. According to the crypto analyst who goes by Master Kenobi on social media X, the next 22 days will be important for the market trajectory of DOGE.
Why The Next 22 Days Are Important For Dogecoin Price
Taking over social media is X, Master Kenobi identified a which repeats the 91-day cycle in Dogecoin price performance throughout the market cycle. According to the analysis, DOGE is currently on day 69 of this cycle and is now entering a critical phase that will determine its short-term future.
The upcoming 22-day period is Dogecoin’s chance to achieve what Master Kenobi described as “three milestones”: surpassing the 100 billion market cap, reaching a new high, and reaching the $1 price level.
First, it is possible that the price of Dogecoin will reach between $0.42 and $1 in the next 22 days, especially given the recent entry into the meme framework. Reaching the high end will see the price of Dogecoin reach new highs. Achieving the $1 value will not only mark a new high for Dogecoin but will actually be good for the entire meme coin.
The only problem with this method high current level is 0.7316 $. Thinking about this, Master Kenobi expects that the DOGE may test this level again soon. Although an initial rejection of this resistance point is possible, he noted that a break above the high would eventually open the gate towards the historic $1.
Reaching the $1 price point would correspond to a market capitalization of over $100 billion. Notably, the analyst reiterated the importance of this psychological price level, as it will confirm the strength and maturity of Dogecoin as a digital asset. Furthermore, if Dogecoin is able to achieve the triple milestone in the next 22 days, it will finally cement its position as an asset with lasting impact.
A possible timeline for DOGE
The last time to play such a cycle is 91 days returned in November 2020. At the time of writing, Dogecoin is trading at $0.2845 and is up nearly 25% in the last 24 hours. Regarding a specific day, this technical analysis points to the price of Dogecoin between $ 0.42 and $ 1 on December 2, which would represent an increase of 40% and 250%, respectively, from the current price.
The featured image was created with Dall.E, a chart from Tradingview.com
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