Can Dogecoin Hit $4? Expert Sets Prediction For Breakout Timing
Analysts and investors are keeping an eye on Dogecoin, especially given recent predictions that the price could soar. Market analyst Javier Santini made headlines for predicting that Dogecoin could reach $4 within a week following an ongoing correction phase.
Analysts’ view
Javier Santini, founder of Elemento Cripto, made his prediction based on changes in Dogecoin’s price since its launch in 2017. He said prices below all-time highs could last a month or more before Dogecoin starts rising again.
Every interim cooling off period since the beginning of the year (below ATH) $DOGE +24 days has a duration of exactly 1 month. Facts since 2017.
The next and first hyperbolic push will begin next week and should reach $4 in a week or less. $ripple to $25.
This news should be very unexpected. pic.twitter.com/1Y2HpinqrH
— Javier Santini (@javierosantini) December 21, 2024
After the results of the US presidential election were announced in early December, the stock price hit a high of $0.48. Dogecoin Currently undergoing rectification. It has since fallen 35%, but according to Santini, such collapses are a normal part of the market cycle.
Santini claimed that Dogecoin’s historical data shows recurring trends throughout the correction. Based on Dogecoin’s weekly chart, he provided insights showing that each mid-term cooling-off period lasted approximately one month.
He believes that Dogecoin will see a sharp rise following this correction, which he believes will end soon and could reach $4 in just a week. This would represent a staggering increase of over 1,168% compared to the current price of approximately $0.3253.
Market sentiment and general patterns
Dogecoin is both exciting and worrying. Some investors are wary of cryptocurrencies due to their volatility, but others are looking to profit from them. While the correction has drawn attention, analysts such as Santini say such fluctuations are normal and typically precede a major rebound.
Another expert, @Degengambleh, predicted that Dogecoin will reach $4.20, supporting Santini’s optimistic estimate. He expects another rally as the 1,000-day accumulation pattern shows significant underlying support for the cryptocurrency.
multivariable
Does Dogecoin really achieve these? lofty goals Future developments will depend on a number of variables, including market sentiment and more general developments within the cryptocurrency space. If Santini’s theory is correct, soon we may be witnessing a new chapter in Dogecoin’s remarkable history – a meteoric rise after a period of consolidation.
Although the Dogecoin price prediction is quite vague, there is an optimistic atmosphere evident from previous trends and current market performance. Therefore, investors are challenged to become more aware and really dig deeper as they navigate this dynamic financial landscape.
Featured images from Pexels, charts from TradingView
