Crypto analyst Javon Marks has made an ultra-bullish forecast for the Dogecoin price in this bull run. The analyst claims that the top meme coin could reach such ambitious heights based on its performance in previous market cycles.
Dogecoin rises to $17 in this bull run
To notice shared a chart on his The analyst made this prediction based on Dogecoin’s historic breakout trendin which the meme coin has had bigger runs with each successive bull run.
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Dogecoin is known to have enjoyed a price gain of over 7,100% during the 2017 bull run, while the meme coin saw a price move of 22,800% during the 2021 bull run. As such, Marks believes Dogecoin will make a bigger run in this running of the bulls than that in 2021, making an increase to $17 feasible.
However, some of his followers to believe that Dogecoin is unlikely to rise to such heights since then, based on its current circulating supply, that would give the meme coin a market cap of over 2 trillion. As such, this has put a question mark on Marks’ ambitious price forecast, given the extent to which the crypto market will have to explode for DOGE to have such a market cap.
Other crypto analysts like it, though Kevin (formerly Yomi OG) have shared bullish price predictions for Dogecoin, although nothing compared to Marks. Kevin predicts that the top meme coin could rise to over $3 in this market cycle. He made this prediction while referencing Dogecoin’s price action in previous cycles.
That’s what the analyst claimed Dogecoin has never failed to meet or exceed the 1.618 Macro FIB extension as measured from previous bull market highs to bear market lows. Dogecoin’s current 1.1618 FIB level is said to be at $3.80, meaning it could rise to this price level in this bull run.
More bullish stories for DOGE
Kevin revealed in a recent X message that Dogecoin is “creating massive bullish divergence” every week. Stoch RSI (relative strength index).” He noticed that too Dogecoin currently forming a higher low and added that the last time DOGE was at $0.08 was the last time it crossed bullishly. Based on this, he claims that big moves are on the horizon for the top meme coin.
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Crypto analyst Crypto Kaleo too recently predicted that Dogecoin will outperform Bitcoin in this market cycle. He further noted that this is a meme supercycle and the “king of memes” would not be left behind. In another X post he said claimed that Dogecoin seems ready for that parabolic move upwards.
Featured image created with Dall.E, chart from Tradingview.com