Dogecoin Appears Poised For Explosive 10,000% Gain – Analyst
Dogecoin (Doge) showed some upward mobility on the last day after a rather bearish trading week. based on Data from CoinMarketCapthe most important Memecoin remains the favorite of investors during the current bull season, with almost 90% of the community confident about future price increases. Notably, prominent crypto analyst Ali Martinez has made another bullish prediction for Dogecoin, which suggests a 10,000% price increase on the token’s potential register.
Can Dogecoin repeat its bullish feat?
exist Latest posts on XMartinez shared a positive analysis of Dogecoin based on historical price data. According to cryptocurrency experts, Doge experienced a 10,000% price increase during the last bull cycle in 2021. During this period, Memecoin’s value increased from around $0.007 to $0.700 in 98 days.
Looking at Governor’s current trading chart, the cryptocurrency is also showing signs of when the price increase in 2021 will begin. Martinez’s prediction suggests that if Dogecoin is able to reflect this strong bullish movement, it could reach $14.78 on the market price in May 2025.
As mentioned earlier, bullish sentiment towards Dogecoin is currently building, creating huge potential for this highly favorable scenario. A large part of this positive market sentiment is surrounding the possibility of a Dogecoin ETF. Among many developments over the past week, prominent asset manager Bitwise proposed a “dogecoin ETF” to the U.S. Department of State’s Division of Corporations in Delaware.
newsbtc Report Bloomberg analyst Eric Balchunas also confirmed the authenticity of the proposed threshold ETF, saying it “could come soon.” Interestingly, Ali Martinez had previously predicted that the Dogecoin ETF could act as a positive market mover, pushing the price of Doge to around $15, which is consistent with his recent price predictions. These predictions are based on the nature of the ETF in the field, which is designed to attract the institutional demand seen by Bitcoin.
Doge Price Overview
At press time, Dogecoin was worth $0.354 after growing 1.72% over the past day. On the other hand, its daily trading volume fell by 30.09%, indicating reduced investor activity. On the larger timeframe, Doge reflected a loss of 11.43% on its 7-day chart, but an impressive profit of 13.96% on its monthly chart, which is indicative of overall performance in recent weeks.
For short-term traders, crypto analyst with X username kev_capita_ta believe Dogecoin may enter an upward consolidation phase that may last until early February. During this time, market experts warned that it is important for market bulls to avoid price breakdown as Doge could go as low as $0.26. With a market capitalization of $52.43 billion, Dogecoin holds the title of the largest Memecoin and is the seventh largest cryptocurrency in the world.
