Weekly Chart Shows That Dogecoin Price Is Primed To Cross $11 In 2025, Here’s How
cryptocurrency analyst Dima James It is boldly predicted that the price of Dogecoin may exceed $11 in the new year. He pointed to DOGE’s weekly chart to explain why the most important meme coin is well-positioned to hit this price target.
Dogecoin price expected to top $11 this year
in a X postsDima James predicts that the price of Dogecoin may exceed $11 this year and reach $11.71. The analyst made this prediction based on his analysis Dogecoin’s weekly chart. The chart he attached shows trend lines, which he noted were mathematically calculated and placed to provide an idea of ​​where DOGE would end up in year 4 of the current cycle.
Related reading
Dime James noted of the chart that historically the red line has always represented the top every cycle. Meanwhile, the red upper line marks the exact cycle top of the previous 4-year cycle (2017 and 2021). If history repeats itself, crypto analysts believe this pattern will play out again this year, with Dogecoin price at least reaching the red line with a target above $11.
The cryptocurrency analyst pointed out that in the previous cycle, the price of Dogecoin increased a full 37 times from the beginning of Year 4 to the end of the same year. Dogecoin started the year at $0.31660. So if history repeats itself, Dima James boldly predicts that the most important meme coins will end in 2025 About $11.71which is 37 times the price at the beginning of this year.
Dima James also raised the possibility of Dogecoin prices rising above $11.71. He noted that the fourth-year redline in 2025 starts at around $23 and increases over time. The red upper line starts at $36 and increases over time. The cryptocurrency analyst added that market participants can start anticipating a peak in this cycle, depending on when Dogecoin reaches this red line.
More conservative price target
cryptocurrency analyst Master Kenobi has provided a more conservative target for Dogecoin price, suggesting it could top out between $1.2 and $3.4 during this market cycle. He said that if DOGE breaks above the current all-time high (ATH) of $0.74 in late January, it could test the $1.2 area, which he marked with a yellow trendline in the attached chart.
Related reading
The analyst added that any price move above the $1.2 Dogecoin price target would be a bonus, although not impossible. He said that if DOGE reaches the orange line at the end of January, its valuation will be $3.4. Cryptocurrency analysts believe that meme coins are unlikely to achieve this goal at this stage. bull market.
Dogecoin price is reportedly around $0.33 at the time of writing, up more than 4% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
