Emily Walker
Crypto analyst Trader Tardigrade has indicated that selling Dogecoin right now may be premature. He has identified a potential area for taking profits on the popular meme coin as it continues through this market cycle.
Potential for Dogecoin to Hit Double Digits
In a recent post on X, Trader Tardigrade stated that Dogecoin could reach a price from $10 to $30 during this market cycle. He believes there is a possibility that Dogecoin will at least climb to $10 from its current value.
These price forecasts were derived by analyzing the price movements in the 2021 bull market. The analyst explained that his targets are based on measuring the price increase from the bottom to the previous all-time high (ATH), and that Dogecoin had previously doubled this ATH as a base for projecting future prices.
Trader Tardigrade also advised investors to begin taking profits at the $10 mark. He shared a chart predicting that Dogecoin could hit these targets within the next year, although no specific timeline was mentioned.
Additionally, he projected that Dogecoin could surge to $30 by March 2025 if the trends reflect those seen in 2021. He also speculated that DOGE could rise to $8.7 by August 2025, following patterns from its 2016 bull run. Another analyst, Ali Martinez, echoed these sentiments, suggesting that Dogecoin might reach $23 during this cycle.
In contrast, crypto analyst Master Kenobi recently argued that setting price targets above $5 for Dogecoin in this cycle seems unrealistic. He based this assertion on concerns regarding the market capitalization required for such price levels to be achievable within the ongoing bull run.
Conservative Dogecoin Targets to Monitor
Another analyst, Kevin Capital, has shared his own Dogecoin price predictions for the current cycle. He mentioned that if Dogecoin performs well, it might reach around $0.93.
He further outlined that a substantial performance could drive the price as high as $2.27, while an exceptional performance could push it to $3.80. Kevin Capital noted that he sees a price range of $1.30 to $1.50 as significant according to his macro analysis.
Currently, Dogecoin is trading at approximately $0.42, showing a decline of over 2% in the past 24 hours, based on CoinMarketCap’s data.