A crypto analyst has predicted that Dogecoin (DOGE), the world’s largest meme coin by market capitalization is set to rally 6,800% to a new all-time high of $6.9. While the analyst maintains a highly bullish outlook on DOGE’s price, he underscores that the cryptocurrency must first satisfy certain conditions to realize this ambitious target.
Roadmap For Dogecoin’s 6,800% Rise To $6.9
On August 18, a crypto analyst identified as ‘Master Kenobi’ took to X (formerly Twitter) to share his bullish projections for Dogecoin. He unveiled a historical chart of Dogecoin’s price movements from 2015 to 2025, highlighting different colored lines that indicate Dogecoin’s next price target.
Based on his chart analysis, the analyst suggests that DOGE could have a steady rise in value as the years go by. He believes that DOGE’s price is increasing at a pace where it might rise enough to “cut a zero” every four years.
Master Kenobi has indicated that Dogecoin’s growth trend could continue, with the cryptocurrency expected to reach $2.2 within the next four years. He also forecasts a dramatic 6,800% surge in the following four years, potentially driving DOGE’s price to $6.9.
He further warned the broader crypto community members that this may be the last time the popular meme coin would be trading at such a low value of $0.1.
In another X post, Master Kenobi declared that DOGE was his biggest bet in this present market cycle. He outlined several reasons for being bullish on the dog-themed memecoin.
Firstly, the analyst regarded Dogecoin as the second most honest chain after Bitcoin (BTC), the world’s largest cryptocurrency. He disclosed that the dog-themed meme coin has one of the longest histories in the crypto space and has grown to become a significantly popular digital asset in the industry.
Furthermore, Master Kenobi predicts that Dogecoin has the potential to increase its value tenfold. He also noted that if any cryptocurrency besides Ethereum (ETH) or Bitcoin were to receive an Exchange Traded Fund (ETF), it would most likely be Dogecoin.
DOGE Price Analysis
In the last 24 hours, DOGE has experienced a significant increase in price, underscoring its potential for a price turnaround amidst current market conditions. CoinMarketCap’s data reveals that Dogecoin is currently trading at $0.105, marking a 5.31% increase in just one day.
Although the popular meme coin seems to be showing strong price fundamentals, a crypto analyst identified as ‘Kaleo’ on X has provided a brief update on the meme coin, noting that there have not been any significant changes in the cryptocurrency’s price recently.
Kaleo predicts that in the coming months, Dogecoin’s price will likely remain stagnant, moving slowly between $0.085 and $0.11 with decreasing volatility. He expects this period of low activity to continue until market conditions improve. As a result, he has recommended that investors “stack and hold” their DOGE investments.
Featured image from Adobe Stock, chart from Tradingview.com
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