Dogecoin To $3? Expert Says The Countdown Has Begun
Cryptocurrency experts believe that positive market sentiment for the digital asset will also drive the price of the popular meme coin to an all-time high. Analysts believe that meme-based Dogecoin Momentum for an underlying bull run is building, pushing the cryptocurrency to $3 per coin.
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Dogecoin: A potential bull run
A well-known analyst believes that it is only a matter of time before Dogecoin breaks through the $3 mark.
Crypto Scofield claims that meme coins are currently gathering momentum for a potential bull run that will push the token to its desired price.
Reports suggest that the meme-based currency could take advantage of the surge in Bitcoin prices, which has surpassed $97,000, and cryptocurrency analysts believe that BTC’s surge may be the driving force behind Dogecoin’s own price increase.
It was just a matter of time before 👇
$FET to $10 $FTM to $5 $Vocational Education and Training to $0.25 $COTI to $1 $INJ to $150 $rose to $0.80 $DOGE to $3 $ripple to $5— Scofield (@Crypto_Scofield) November 28, 2024
Despite the recent plunge that Meme coins have experienced, Crypto Scofield believes that the Dogecoin bull run may soon return, paving the way for the coin to reach $3.
Experts explain that for Dogecoin to reach this unprecedented level, it would need to undergo a massive run and its price would have to increase by 624% from its current price.
Considering that the price of DOGE has increased by more than 400% in the past 12 months, a 624% surge is not far-fetched, further strengthening the possibility of a meme coin bull run to $3.
Achievable goals within one year
Several cryptocurrency analysts have said that Dogecoin could reach the $3 level in six months to a year, predicting that the meme coin could peak at the $3 mark.
Market commentators also said that the current bull market is expected to end within the same time frame.
However, some cryptocurrency observers disagree with the $3 prediction, stating that DOGE is expected to reach $11 per coin and even exceed $20.
A TradingView analyst examined Dogecoin’s historical performance within a Gaussian channel and came up with a prediction that the meme coin could peak at $11.
Another analyst, Ali Martinez, also predicted that the price of DOGE per coin would be above $3. Martinez analyzed DOGE’s previous performance and concluded that each DOGE would peak at $18.
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Market value $440 billion?
Analysts said that if the price of Dogecoin reaches $3 per coin, this will also push the market value of this meme coin to about $440 billion.
Once DOGE hits that Market value If that level is reached, it would surpass the current $439 billion market capitalization of another popular cryptocurrency, Ethereum.
Market commentators also explained that DOGE is expected to be valued at $440 billion, which would place it among the world’s most valuable assets and companies, surpassing industry leaders such as Netflix and Bank of America in global rankings.
As of press time, DOGE is trading at $0.4219 per coin, up 2.1% in the past 24 hours, with a total market value of more than $62 billion.
Featured images from DALL-E, charts from TradingView
