Dogecoin Price Predictions: Analyst Believes DOGE Could Surge by More Than 7,200%
Despite Dogecoin failing to reach $1, there is still hope among its dedicated community that the meme coin may eventually surpass $10 this year. Analyst Javon Marks recently shared insights on a potential Log Breakout for Dogecoin, indicating a significant surge in price if history repeats itself.
Analyst’s Take on Dogecoin’s Log Breakout
Javon Marks highlighted a crucial development on the Dogecoin chart, suggesting the possibility of a Log Breakout in the near future. He pointed to previous instances when Dogecoin experienced Log Breakouts, resulting in substantial price increases:
- During the 2017-2018 bull market, Dogecoin surged by 9,472%, climbing from $0.0002 to $0.01858.
- In the 2020-2021 bull market, Dogecoin saw a remarkable 28,882% rally, with prices soaring from $0.0012 to nearly $0.74.
Given the historical precedent and the pattern of escalating rallies after each Log Breakout, Marks believes that Dogecoin is poised for another major uptrend.
Projected Growth for DOGE
Based on his analysis, Marks anticipates a potential 7,200% surge in Dogecoin’s price if the Log Breakout comes to fruition. This surge could propel the meme coin beyond $10 for the first time, marking a significant milestone in its price history.
However, Marks also acknowledges the challenge of sustaining such massive rallies, especially given Dogecoin’s already substantial market cap.
Shiba Inu Price Forecast
Apart from Dogecoin, Marks is also optimistic about Shiba Inu’s prospects in the market. In a previous analysis, he identified a macro Hidden Bullish Divergence for the second-largest meme coin by market cap, suggesting a potential 354% increase to reach its previous all-time high around $0.000081.
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