Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale

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As a seasoned analyst with over a decade of experience in the crypto market, I find it intriguing to see such diverse predictions about Dogecoin’s price trajectory. While I appreciate the optimism of KrissPax and Trader Tardigrade regarding Dogecoin reaching $3 and even $3.52 respectively, I tend to lean towards a more conservative approach.

According to crypto expert KrissPax, it’s possible for the value of Dogecoin to surge up to $3 during this market phase. He elaborated on his prediction by suggesting that the popular meme currency could potentially reach this price level if we consider a logarithmic growth pattern.

Dogecoin Price To Reach $3

In KrissPax’s recent post on X, he outlined a potential pathway for Dogecoin’s price to hit $3. He emphasized a chart comparing the peak values of 2017 and 2021, with a curved line showing decreasing returns as the market cap expands, using a logarithmic scale. KrissPax believes that the first milestone toward reaching this $3 goal is for Dogecoin to reach $1. He maintains his confidence that the meme coin can indeed achieve $3 during this market cycle.

As a crypto investor, I’ve been closely following Trader Tardigrade’s analysis, and his latest insights suggest that a Dogecoin price rally to $1 might be imminent. This could potentially trigger a subsequent rally towards $3. In a recent post, the analyst pointed out that the Dogecoin Relative Strength Index (RSI) has been rebounding from the oversold zone on a 4-hour chart. Previous RSI rebounds from this same zone have resulted in significant surges for Dogecoin, specifically 40% and 200%.

The cryptocurrency expert noted that the upward momentum is becoming more pronounced, hinting that it’s possible for the Dogecoin price to surge past the 200% mark and reach approximately $1.15. Furthermore, Trader Tardigrade has speculated that Dogecoin could potentially climb as high as $3.52, given its history of doubling in value from previous peak points.

 

In the meantime, these crypto experts are proposing that the current $3 mark for Dogecoin’s price might not represent the peak in this market phase. Analyst Philip has gone as far as forecasting a more ambitious goal of at least $5 for Dogecoin. This prediction is based on Dogecoin’s historical performance patterns across previous market cycles.

Anything Above $5 Is Unrealistic 

In a recent post on X, crypto expert Master Kenobi stated that predicting the price of Dogecoin exceeding $5 within this current market cycle is unlikely. He based this opinion on the potential market cap of Dogecoin if it were to reach such targets, which he considers improbable given the course of this bull run.

Kenobi the Master cautions investors against expecting prices to surpass $5, as doing so might mean holding onto these investments for another four years without profit. Regarding how high he thinks Dogecoin’s price can climb during this cycle, his analysis suggests that a reasonable range of $1 to $2 is plausible.

He believes that the price surge to $1 might resemble Bitcoin‘s price surge from $1,000 to $10,000, and a subsequent price surge to $2 could follow the same pattern as Bitcoin’s rapid increase from $10,000 to $20,000 within two weeks.

Currently, as I’m typing this, the value of Dogecoin is approximately $0.4 per coin. It has increased over the past 24 hours, based on information from CoinMarketCap.

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2024-11-29 02:47