Dogecoin (DOGE) Price Predictions Heat Up: $1.3 or a $10 Rally?
Key Takeaways:
- Dogecoins 2025 trajectory draws comparisons to its 2017 bull run.
- Predictions for DOGEs peak range from $1.3 to a speculative $10.
- Breakout opportunities are anticipated despite recent descending channels.
Dogecoins price action is providing renewed hope to traders versus its trend of 2017s bull market. DOGE CAPITAL tweeted on social media a side-by-side chart of Dogecoins trend of 2017 versus its current cycle, suggesting identical trends that can lead to historic spikes.
The chart implies that DOGE is likely in its parabolic climb early stage, likely on its trajectory to hit its historical highs and move on through 2025. The prediction is also confirmed by the 1442-day cycle theory that implies that Dogecoin is subject to cyclical peaks throughout its history of market fluctuations.
The analyst presumed that the coin could break its historical high, speculatively indicating that it can hit $10. The tweet also warned of increasing volatility that is supposed to shake out weak hands but indicated that one should watch out for overall trend rather than movements on a daily basis.
Skepticism Grows Over Dogecoins $10 Target
While the price of $10 has attracted interest, others of the trading community have doubts. DOGE veteran trader Master Kenobi acknowledged historical similarities but dismissed that kind of extreme price target. A far more believable top of $1.2 or $1.3, employing a local bottom of $0.20 and Dogecoins historical trajectory, is what he presented in its stead.
Kenobi emphasized that while there is every reason to suspect that there is good sentiment around Dogecoin, there is also every probability that its full potential will never be achieved by hyping its possibilities too much.
Breakouts Expected Despite Bearish Channels
Adding to this, KrissPax observed that DOGE has been trading in its third consecutive descending channel since late 2023. Despite the bearish formations, they noted that the overall bull market remains intact, making a breakout likely in the near future.
This sentiment is part of broader anticipation that Dogecoin can break its ongoing consolidation phase and make another rally. But traders have to exercise restraint under conditions of heightened volatility and wait for good levels of entry as the next cycle takes its turn.
Dogecoins enduring popularity, fueled by its passionate fan base and its cyclical price history, makes it a point of interest of the cryptocurrency market. While its reaching a market cap of $10 is possibly too ambitious, its likely resurgence or overshooting of its previous peaks makes it stay on peoples minds.
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Read more: https://www.tronweekly.com/dogecoin-doge-price-predictions-heat-up/
Text source: TronWeekly
