Analis Ternama: Harga DOGE Bisa Melompat Riang Sebesar 2.500 Persen

Renowned Crypto Analyst Predicts 2,500% Dogecoin (DOGE) Surge in Current Bullish Cycle

Renowned crypto analyst Kevin, formerly known as OG Yomi, has recently sparked discussion with his bold prediction for the price of Dogecoin (DOGE). He believes DOGE could witness an astonishing 2,500 percent surge in the current bullish cycle. His analysis outlines several key price targets that the popular memecoin could potentially reach.

Methodology for DOGE Price Analysis

As reported by Bitcoinist, Kevin's methodology involves using the Fibonacci Macro 1.618 (FIB) extension, a common tool among traders for identifying potential resistance and support levels. This extension is calculated from the peak of the previous bull market to the bottom of the subsequent bear market.

According to Kevin, Dogecoin has historically met or exceeded the 1.618 FIB extension level. He indicates that the current 1.618 FIB level for DOGE is projected at $3.80, suggesting a significant potential for price appreciation if the previous pattern holds.

However, Kevin also acknowledges the challenges Dogecoin faces in reaching these heights in the current market landscape. He mentions that increased market capitalization and the proliferation of other memecoins could diminish Dogecoin's potential for outsized gains compared to previous cycles.

Despite these hurdles, he remains optimistic, citing Dogecoin's historical performance as a basis for potential future success.

Interim Price Targets

Expanding on his analysis, Kevin identifies interim price targets of $0.95 and $1.35 for Dogecoin. These levels represent significant milestones that DOGE could achieve even if it falls short of the $3.80 mark.

His projections are more bullish than many other analysts, some of whom predict that Dogecoin may struggle to reach $1 in this cycle.

Kevin's bullish stance on Dogecoin is underpinned by his belief that the memecoin is on the cusp of breaking out of its recent downtrend. He anticipates that DOGE has several weeks of bullish price action ahead before it can reach these bullish market targets.

Another critical point raised by Kevin is the importance of DOGE closing above $0.16 on a monthly basis. He argues that such a close would signify a successful retest of the previous bear market accumulation range, building a strong foundation for further upward momentum.

Cautious Outlook from Pav Hundal

In contrast to Kevin's optimistic view, Pav Hundal, lead analyst at Australian exchange Swyftx, offers a more cautious perspective. Hundal cautions that reaching the $1 milestone may not be as straightforward as some envision.

He highlights potential selling pressure from investors who purchased DOGE at the peak of the last market cycle, when it reached an all-time high of $0.73. These investors, looking to break even, may begin selling as Dogecoin approaches new highs, potentially hindering its ascent to $1.

Hundal also alludes to the increasing competition within the memecoin sector. With more options available, Dogecoin may find it harder to maintain the level of market dominance and interest it enjoyed in previous cycles. This could further complicate its path to higher price points.