Crypto analyst Lebicahlz predicted that the price of Dogecoin will experience a major explosion, sending it to new all-time highs (ATH). The analyst also provided price targets that Dogecoin could reach as it reaches new highs.
Dogecoin Price Expected to Reach New ATHs
In a TradingView articleLebicahlz said he believes Dogecoin price is ready to hit new highs. The analyst warned that growth may not be as strong as previous bull runs. However, he added that Dogecoin seems to be a very good coin for 2025, as it has more room to grow.
The analyst’s attached chart shows that Dogecoin could reach $20 by next year. Such a parabolic rally would represent a price gain of approximately 4,900% from its current level. According to the chart, this price surge could occur between early January 2025 and July.
Javon Marks, crypto analyst also recently echoed similar bullish sentiment for Dogecoin price, stating that historical data shows that Dogecoin price will see a surge of over 75% to reach a new ATH. Marks predicted that the top meme coin could surpass $3 and hit $15 on a “high end.”
Crypto analysts like Trader Tardigrade have also previously predicted that Dogecoin price could reach double digits in this market cycle. Trader Tardigrade predicted that Dogecoin could reach as high as $30 if it mirrors the 2021 bull run. Along the same lines, the analyst advised investors to start looking to take profits when Dogecoin hits $10 and possibly from continue to do so as the meme coin rises back to $30.
DOGE Investors Are Growing More Impatient
In a post analyst Ali Martinez revealed that DOGE investors may be growing impatient with Dogecoin’s price action. This came as the analyst revealed that market sentiment for Dogecoin has turned negative. Based on this, the analyst noted that traders are growing impatient with this ongoing price consolidation.
Dogecoin price has continued to consolidate around the $0.4 range for about a month now since its parabolic rally between October and November. However, the crypto analyst Kevin Capital provided some optimism to those who might be bearish at the moment.
He said that a conciliatory attitude Fed Outlook for 2025 and the Bank of Japan’s decision not to raise rates could negate any bearish indicators. Along the same lines, the analyst noted that this is not the time to overanalyze charts but rather focus on macroeconomic factors.
At the time of writing, Dogecoin price is trading at around $0.38, down more than 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
