๐ A crypto analyst has forecasted a massive price surge for Dogecoin ( $DOGE ), predicting it could hit $24 soon. While Dogecoin currently trades below $1, this bold prediction has shocked skeptics, as the analyst remains confident that the king of meme coins is set for a major rally.
๐ Dogecoin has struggled below $1 for years, with significant price fluctuations. Unlike its competitor Shiba Inu (SHIB), which has seen recent gains, Dogecoin has faced substantial declines, leading some investors to liquidate their holdings.
๐ Despite the bearish trend, an analyst known as 'CEO' on X (formerly Twitter) has sparked new optimism with a bullish prediction. He shared what he calls the โultimate Dogecoin chart,โ suggesting the meme coin could reach $24 soon. The chart shows Dogecoinโs past bearish phases followed by explosive rallies, hinting at a similar breakout now.
๐ก While a $24 target may seem unrealistic, the CEO believes skeptics will be proven wrong. Dogecoinโs current price of $0.13 makes such a leap hard to imagine, requiring a massive 18,362% surge, which would likely only happen during a strong bull market.
๐ฐ For Dogecoin to reach $24, its market cap would need to surpass Bitcoinโs $1.3 trillion. Currently, Dogecoinโs market cap is $19.6 billion, highlighting the enormous growth required.
๐ Data shows Dogecoin has dropped 6.41% in the past week and 4.37% in the last 24 hours, currently trading at $0.134. However, trading volume is up by 24.2%, indicating growing interest in the meme coin despite recent declines.