Top Analyst Says Dogecoin Prepping for a 12x Surge Past $2.28
With the cryptocurrency market rebounding from its prolonged flush, an analyst has predicted that Dogecoin is preparing for a 12x surge to unprecedented highs.Top analyst Javon Marks made the audacious assertion in a Sunday commentary, citing adoption and cyclical price performance. He suggested that the leading meme coin will defy predominant downside momentum and target a 1,160% upside push.Dogecoins recent positive price action seems to align with this prediction after closing with a mild 2.27% gain last week. Notably, the rebound comes on the heels of a dragonfly doji candlestick the week before, signaling lower price rejection and growing momentum for a surge to higher prices.No Reason to Be Worried About DogecoinDespite its 44% year-to-date retracement, Marks charged concerned DOGE enthusiasts to look at the emerging trends in the assets ecosystem. The expert noted that Dogecoin has more backing and purpose now than ever, indicating imminent northward price action.Although he did not go into details, recent adoption trends in the Dogecoin ecosystem support Marks claims. Multiple asset managers, including Grayscale and Bitwise, have filed for a DOGE spot exchange-traded fund (ETF), signaling institutional interest in the joke-themed token.Furthermore, the top analyst cited Dogecoins historical price performance as an inspiration for the assets upward trajectory. Currently in its third bull cycle, the prominent meme coin has had a strong outing in its last two cycles, rallying over 20,566% and 44,471% in 2017 and 2021, respectively.
Text source: The Crypto Basic
