Cryptographic Analyzer Dima James It has boldly predicted that the price of Dogecoin could cross $11 in the new year. He pointed to the weekly chart of DOGE to explain why the most important coin is the right one to hit this price target.
Dogecoin price crossed $11 this year
in one Post XDima James predicted that the price of Dogecoin could cross $11 this year and reach $11.71. This analyst made this prediction after his analysis Dogecoin weekly chart. His accompanying chart shows trend lines, which he says are mathematically calculated and placed to give an idea of where DOGE could end year 4 of this current cycle.
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Pointing to the chart, Dime James noted that historically, the red line has consistently indicated a high at the door Every cycle. Meanwhile, the upper red line shows the highest precision cycle in the previous 4-year cycles (2017 and 2021). If history repeats itself, the cryptocurrency analyst believes that this pattern will run again this year, and Dogecoin price will at least reach the red line and target above $11.
The crypto analyst noted that in previous cycles, the price of Dogecoin increased exactly 37 times from the beginning of the fourth year to the end of the same year. Dogecoin started this year at $0.31660. So, if history rhymes, Dima James boldly predicted that the coiniest meme will end in 2025. About $11.7137 times the price at the beginning of this year.
Dima James also suggested the possibility of Dogecoin price rising above $11.71. He noted that the 4-year redline in 2025 starts at around $23 and will increase over time. The top red line starts at $36 and also increases over time. The crypto analyst added that market participants can expect the peak of the cycle depending on when Dogecoin reaches this red line.
A more conservative price target
Cryptographic Analyzer master kenobi It offered a more conservative price target for Dogecoin, suggesting it could rise between $1.2 and $3.4 this market cycle. He stated that if DOGE breaks through its current high (ATH) of $0.74 by the end of January, it could potentially test the $1.2 area, which he has marked with a yellow trend line on the accompanying chart.
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Anything above Dogecoin's $1.2 price target would be a bonus, though not impossible, the analyst added. He noted that if DOGE reaches the orange line by the end of January, it will be worth $3.4. This cryptocurrency analyst believes that it is unlikely that MemeCoin will achieve this goal at this stage. Bull market.
At the time of writing, Dogecoin is trading at around $0.33, up more than 4% in the last 24 hours. data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
