- Dogecoin (DOGE) has been predicted to make a staggering surge to between $20 and $50 in the next bullish cycle.
- Another analyst predicts that the meme coin could soon “eliminate the zero after the comma” to hit $6.5.
Dogecoin (DOGE) makes an incredible comeback to $0.1125 after strongly resisting a severe bearish force that tanked most of the leading assets in the past few weeks. At press time, DOGE was up by 5% in the last 24 hours and 11.5% in the last seven days. Fascinatingly, its trading volume was also up by a staggering 130% with $881 million “flowing” in the market.
Amid this impressive development, whale activities remain high as analytics platform IntoTheBlock data discloses a 50% surge in investors holding over 10 billion DOGE in the past month. According to analysts, this indicates a possible accumulation during the market downturn.
Confirming this is Santiment data, which disclosed that a whale purchased over 60 million DOGE tokens in just 24 hours in July. On top of that, addresses holding between 10 million and 100 million DOGE purchased about 160 million DOGE in 48 hours, pushing the collective holding to its peak this year at 10.5 billion DOGE tokens.
With this happening, the price is expected to continue its bullish surge as the buying pressure from some large holders has not yet factored into the DOGE price.
Subjecting the meme coin to a price predictive analysis is crypto trader Dimaports36. According to him, DOGE could reach as high as $10 with more potential to proceed to $36.
His analysis was based on the fact that DOGE has a relatively lower price compared to the top ten cryptos. To him, this makes it more accessible to a broader audience.
Other Analysts Make Bullish Case for Dogecoin
Similarly, popular analyst Masked Trader disclosed to his audience that DOGE could be in line for a massive move as its MACD nears a bullish crossover. Analyzing a two-month chart, the analyst observed that the price was tightening, suggesting an upcoming huge breakout.
Agreeing with Dimaports36’s prediction, Masked Trader believes that DOGE could hit between $20 and $50 once it successfully overcomes the $1 resistance level.
DOGE this is a 2 monthly Chart. MACD is about to turn Green. Price is Squeezing. The chart is PRIMED for a face-melting PUMP. The whole Crypto market would be crying once $Doge breaks $1 that they didn’t get into these prices!!! My Bullrun target = $20-$50 per coin.
The third prediction analyzed by CNF came from analyst “Master Knobi.” According to him, there is a possibility of DOGE repeating a pattern that occurs every four years and coincides with Bitcoin halvings. Coupled with the influence of Tesla’s Elon Musk, the analyst expects the meme coin to “eliminate the zero after the comma” to hit $6.9 in the upcoming bullish cycle. Musk’s influence was highlighted in our recent post where his latest statement triggered a 6% surge for DOGE.
DOGE cutting a ZERO every 4 years. Don’t say I didn’t tell you. This is most likely the last time we’ve seen ZERO after the comma.
Per the analysis of crypto analyst Javon Marks, Dogecoin’s Relative Strength Index (RSI) hints at a breakout that could drag the price to $0.6533, a 513% surge from the current price. Interestingly, this prediction is similar to that of analyst Cryptorphic recently reported by CNF.
