Analysts and investors alike are keeping an eye on Dogecoin, especially given recent predictions that indicate a possible price increase. Market analyst Xavier Santini made headlines with his prediction that Dogecoin will hit $4 within a week after an ongoing correction phase.
Analyst opinion
Xavier Santini, founder of Elemento Cripto, bases his prediction on how prices have changed since Dogecoin's inception in 2017. He says the drop below all-time highs is likely to last a month or more before the coin starts to rally again.
Every mid-cooldown (below ATH) from the start $DOGE It is exactly 1 month in 24+. A fact of 2017.
The next and first hyperbolic push will begin next week and should reach $4 in a week or less. XRP dollars to $25.
The news must be very unexpected. pic.twitter.com/1Y2HpinqrH
– Javier Santini (@javierosantini) December 21, 2024
After hitting a high of $0.48 following the US presidential election results in early December, Dogecoin It is currently being modified. It has fallen 35% since then, but according to Santini, that fall is a normal part of the market cycle.
Santini claims that Dogecoin's historical data shows recurring trends during corrections. Based on Dogecoin's weekly chart, he provided insights that each mid-cooling period lasted roughly a month.
He believes that Dogecoin will have a huge rally following these corrections, which he believes will end soon and may reach $4 within a week. Compared to its current price of approximately $0.3253, this represents a staggering growth of over 1168%.
Market sentiment and general patterns
Dogecoin excites and worries people. Some investors are cautious because of the volatility of cryptocurrencies, but others want to profit. While the correction has attracted attention, analysts like Santini say such swings are normal and often precede big rallies.
Another expert @Degengambleh predicts that Dogecoin will reach $4.20, which supports Santini's optimistic estimate. He predicts another rally as the 1,000-day rally pattern shows key fundamental support for the cryptocurrency.
Multiple variables
Will Dogecoin actually achieve these? High goals The future depends on several variables, including the state of the market and more general developments in the digital currency space. If Santini's theory is correct, we may soon see another chapter in Dogecoin's remarkable history – a rapid growth after a period of stabilization.
Although Dogecoin's price prediction is quite vague, there is an optimistic vibe that can be gleaned from past trends and how the market is currently behaving. In doing so, investors are challenged to be informed and do really deep research along the way as they ride this dynamic financial landscape.
Featured image from Pexels, chart from TradingView
