Crypto Analyst Says Dogecoin Could Rally 2,500%, Presents Possible Targets

Crypto analyst Kevin (formerly OG Yomi) suggests that Dogecoin (DOGE) could experience a 2,500% surge during this bull cycle. He highlights key price targets that the meme coin might achieve:

Price Targets for DOGE:

• $3.80: Kevin notes that DOGE has historically surpassed the 1.618 Macro Fibonacci extension (FIB) measured from previous bull market highs to bear market lows. The current 1.1618 FIB on DOGE's chart is at $3.80.
• $0.95 and $1.35: Kevin identifies these as additional "notable" price targets that the meme coin could reach, even if it falls short of the $3 mark.

Bullish Outlook for DOGE:

Kevin's analysis presents a bullish outlook for DOGE, aligning with predictions from other crypto analysts who anticipate a rise to $1 during this cycle. Despite recent price declines, Kevin remains optimistic about DOGE's potential to overcome the downtrend. He emphasizes that the meme coin still has "multiple weeks of upward price action away from achieving this bull market milestone."

Confirmation of Bullish Continuation:

Kevin recently stated that Dogecoin needs to close above $0.16 monthly to confirm its bullish continuation. According to him, such a close "would confirm a perfect retest of the previous bear market accumulation range" and establish "strong monthly momentum for further upside."

Alternative Perspective on DOGE's Price Action:

Pav Hundal, lead analyst at Swyftx, cautions that Dogecoin may not reach $1 as widely anticipated. He explains that crypto investors who purchased DOGE at its previous all-time high (ATH) of $0.73 may sell off once it approaches that level, creating selling pressure and potentially hindering its rise to $1. Hundal also acknowledges the increased competition in the meme coin market, which could affect DOGE's dominance.

Current Market Status:

At the time of writing, Dogecoin is trading at approximately $0.145, experiencing a slight decline in the past 24 hours.