Analyst Says Get Ready As Dogecoin Enters ‘Expansion Stage’, Can DOGE Reach $12?

Dogecoin Enters Expansion Stage: Analyst Predicts Potential Surge

Dogecoin, a cryptocurrency gaining analyst attention, has exhibited a historical pattern of outperforming during bull cycles. Crypto analyst Crypto Kinfolk has outlined a potential scenario that could see Dogecoin's price skyrocket.

Historical Analysis and Bull Cycle Expectations

Crypto Kinfolk highlighted Dogecoin's performance in previous bull markets:

• 2017-2018: 21,000% gain
• 2020-2021: 50,000% surge

This trend suggests that Dogecoin could continue to outperform in the current bull cycle, potentially replicating its previous gains.

Entry into Expansion Stage and Price Targets

Kinfolk believes Dogecoin has entered an "expansion stage" where it is expected to rally. The analyst has identified three potential price targets:

• Target 1: $4.20 (2,500% increase)
• Target 2: $10.10 (6,100% increase)
• Target 3: $12 (7,200% increase)

These targets are based on the assumption that Dogecoin follows a similar trajectory to its historical bull runs.

Influencing Factors and Conclusion

Kinfolk acknowledges rumors that Elon Musk may add Dogecoin as a local currency for a potential platform. The analyst suggests that this could further enhance Dogecoin's gains.

"With rumors shooting around the internet that Elon may add DOGE as the local currency for the X platform and this being a real possibility, I think it is counterproductive to think these type of gains are not in the cards," Crypto Kinfolk concluded.

Source: Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com