Bitrabo Editorial
The crypto analyst Dima James has forecasted a significant increase in the price of Dogecoin, with predictions suggesting it might soar to $10. He supports his claim with a detailed analysis demonstrating the potential for such a surge.
Is a $10 Dogecoin Price Possible?
In a recent post on X, Dima James pointed out that Dogecoin could potentially reach the $10 mark. He drew parallels between the current price movements of Dogecoin and those observed during its previous cycles. The daily price chart for Dogecoin indicates that it has seen several pullbacks towards the 0.382 Fibonacci level, similar to patterns noted in prior cycles.
Previously, similar price actions were followed by significant upward trends. Dima James noted that Dogecoin is currently retesting the 0.382 Fibonacci level, hinting that if history mirrors, a rise may be imminent.
This isn’t the first time James has pointed out the potential for Dogecoin to hit $10. He referenced historical price movements, mentioning that in 2017, Dogecoin skyrocketed by 9,000%, and in 2021, it experienced an 18,000% increase. He believes a significant price leap may occur once more in 2025 if favorable trends persist.
Moreover, Dima James recently stated that he expects Dogecoin to surpass Bitcoin’s performance in this cycle. He emphasized that Dogecoin has seen greater price increases in each successive cycle, while Bitcoin’s growth has been tapering during recent bull runs.
In the 2018 bull run, Dogecoin rose over 21,000%, and in 2021, it surged by more than 54,000%. If this trend continues, reaching $10 may be plausible as Dogecoin continues to attract higher gains compared to the last two cycles.
Anticipation of Price Breakout
Analysts, including Mikybull Crypto, have pointed out that a breakout for Dogecoin is likely imminent. In a new post on X, he indicated that DOGE is at a pivotal point often associated with considerable price rallies, with a prediction that it could reach $1 in this cycle.
Another analyst, Crypto Rover, also suggested that the price of Dogecoin is poised to “pop,” though offered a more cautious target of $0.40 for the upcoming year.
Despite its status as the leading meme coin, Dogecoin has performed relatively poorly in this market cycle. Dima James cautioned that those disregarding DOGE’s potential in this cycle could face unexpected outcomes.
As of now, Dogecoin is trading at approximately $0.1077, marking a decline in the past 24 hours, according to CoinMarketCap data.