A prominent crypto analyst has expressed confidence in Dogecoin (DOGE), stating that despite a 46% decline from its yearly high, the $10 price target is still achievable.
While recent market downturns may have unsettled some, the expert remains optimistic, predicting a rapid recovery for DOGE followed by a sustained upward movement toward this ambitious goal. The analyst’s forecast is based on historical trends, particularly the cyclical relationship between Bitcoin and Dogecoin. After a dip to $0.2615 on December 20, DOGE rebounded strongly, supporting the analyst’s view of a bullish outlook.
By studying Dogecoin’s daily chart, the expert predicts that DOGE could reach the $10 mark between February 11 and May 7, 2025. This timeline aligns with the expected peak in Dogecoin’s cycle, which typically follows Bitcoin’s highest price within a few weeks.
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This year, despite market fluctuations, DOGE saw impressive growth, climbing 545% and nearly recovering from the 2021 bear market losses. On December 8, Dogecoin reached $0.4846, nearing its all-time high. While the meme coin remains dominant in its category, many analysts foresee further growth in the near future.
As the bull cycle progresses, traders will closely monitor Dogecoin’s performance, particularly as it surges with increased momentum, currently trading at $0.3367 after a 33% rally in under 24 hours.