Crypto Analyst Says Dogecoin Price Will Rise Over 7,200% To Reach $10, Here’s Why

Dogecoin Bulls Gear Up for Log Breakout, Anticipating Surge Beyond $10

Despite failing to reach $1, the Dogecoin community remains optimistic that the meme coin will eventually cross that threshold. Crypto analyst Javon Marks recently shared findings on the Dogecoin chart, suggesting a potential Log Breakout that could ignite a significant surge in its price.

Historical Significance of Log Breakouts

Marks highlighted two previous instances where Dogecoin experienced Log Breakouts, each leading to impressive rallies. The first occurrence in 2017-2018 propelled DOGE from $0.0002 to $0.01858, an astonishing 9,472% gain. In 2020-2021, another Log Breakout triggered a legendary 28,882% rally, with DOGE climbing from $0.0012 to nearly $0.74.

Projecting the Price Surge

Based on this historical performance, Marks believes Dogecoin is positioned for another major rally. His analysis indicates that a successful Log Breakout could lead to at least a 7,200% increase from current levels, propelling the meme coin above $10 for the first time.

Bullish Sentiment for Other Meme Coins

Marks is also optimistic about Shiba Inu (SHIB), another popular meme coin. He identified a macro Hidden Bullish Divergence in its price action, suggesting a potential 354% surge from current levels to reach its all-time high of around $0.000081.