Bitrabo Editorial
According to predictions from Analyst Crypto Universe, Dogecoin is expected to experience a price increase exceeding 100%, potentially rising to $0.37. The timeline for this surge has sparked interest within the cryptocurrency community.
Projected Timeline for Dogecoin’s $0.37 Price Point
In a recent post on X, Crypto Universe asserted that Dogecoin’s price will hit $0.37 within the next two weeks, marking a substantial increase from its current value. Achieving this price would represent the highest point for DOGE this year and may set the stage for a future rise towards its record high of $0.73.
In his interactions with followers, Crypto Universe elaborated on how Dogecoin might reach a new all-time high (ATH). He mentioned that selling at $0.37 would be premature and expects a price correction following the US elections on November 5.
After this correction, he anticipates a major rally leading to a price of $1 for Dogecoin, suggesting that this would not be the peak, as he believes it could eventually rise as high as $4.20.
A forecasted increase to $4.20 would represent a staggering growth of nearly 2,900%. Although ambitious, there is renewed optimism among Dogecoin investors, especially with Elon Musk actively promoting the meme coin once again.
Last week, Dogecoin was among the top performers in the cryptocurrency market, boasting over a 30% price increase. This rally was notably influenced by Musk, who highlighted Dogecoin multiple times, including during a town hall meeting in Pennsylvania.
Optimistic Outlook for DOGE
Kevin Capital, a self-declared “lead Dogecoin analyst on X,” expressed in a recent X post that Dogecoin seems poised for a significant price surge. He noted that DOGE’s two-week money flow indicator recently turned positive for only the third time ever, with the last two occurrences in March 2021 and November 2017.
Historical data indicates that these instances preceded substantial bull runs for Dogecoin, culminating in significant new price highs. For instance, the price increased significantly in March 2021, eventually reaching its all-time high of $0.73 in May 2021.
Currently, Dogecoin’s price hovers around $0.148, having risen nearly 5% in the last 24 hours, based on statistics from CoinMarketCap.
Image created with Dall.E, chart from Tradingview.com