Can Dogecoin Replicate Its 2021 18,000% Run? Here’s What The Chart Says
27 Luglio 2024 - 4:30AM
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Crypto analyst Kevin (formerly OG Yomi) has made a bullish case for
Dogecoin (DOGE). Based on his analysis, the foremost meme coin
could replicate its 2021 bull run when it enjoyed a price gain of
18,000%. Dogecoin Could Soon Replicate Its 2021 Bull Run Kevin
suggested in an X (formerly Twitter) post that Dogecoin could soon
replicate its 2021 run when it made a price gain of 18,000%. This
came following his statement that DOGE is two to three weeks away
from achieving its first weekly golden cross in four years. The
analyst noted that the meme coin went “parabolic” for six straight
months and enjoyed a price rally of 18,000% the last time this
happened in 2021. Related Reading: Cardano In The Spotlight:
Why The $0.6 Level Is Important To ADA Crypto analysts like Javon
Marks have also raised the possibility of Dogecoin replicating its
2021 run and even surpassing it at different points in this market
cycle. Marks predicted that the foremost meme coin could enjoy a
price rally of over 21,000% in this bull run and rise to $17. This
prediction is based on Dogecoin’s historical breakout trend, in
which the meme coin has enjoyed more significant price rallies in
every subsequent bull run. More recently, Marks stated that
Dogecoin’s rise to $0.6533 is only a matter of time and that the
meme coin could enjoy a 90% price rally to $1.25. While the
analyst’s price prediction of $17 is undoubtedly ambitious since it
will give Dogecoin a market cap of about $2.4 trillion, the price
target of $1 looks more feasible, and this is a price level that
some other analysts, like Altcoin Sherpa, have agreed that DOGE can
reach. In the meantime, investors hope that Dogecoin can
successfully achieve the Golden Cross and that history will repeat
itself. DOGE is well in need of such a move, considering how the
foremost meme coin has underperformed in comparison to other major
meme coins like Pepe (PEPE), Floki (FLOKI), and Dogwifhat
(WIF). One Last Opportunity To Buy DOGE Crypto analyst The
Cryptomist recently suggested that investors will have one last
opportunity to buy Dogecoin at a discount before it makes its
parabolic move. Based on a rising wedge pattern highlighted on
Dogecoin’s chart, she predicts that the foremost meme coin will
still drop to as low as $0.08 and possibly $0.05. Related
Reading: End Of The Road? Shiba Inu’s Shibarium Sees Massive 80.3%
Crash In Active Accounts However, she is bullish on Dogecoin
long-term, stating that the foremost meme coin has a “high chance”
of reaching $1 this year. Crypto analyst Crypto Kaleo also recently
predicted that Dogecoin could drop to as low as $0.08 before it
runs to $1. At the time of writing, Dogecoin is trading at around
$0.129, up over 4% in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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