As Dogecoin (DOGE) stands out as the best performing crypto asset among major cryptocurrencies, market experts predict further price increases over the coming months as the crypto bull run continues.
Dogecoin continues to trade at a three-year high after a sensational bull run over the past few days that propelled it into the top six cryptocurrencies by market capitalization. At press time, Dogecoin is trading at $0.3961, posting a 250% gain over the past 30 days. For comparison, Bitcoin only jumped 40% during this period.
Although Dogecoin’s explosive rally has calmed down over the past two days, analysts remain convinced that the best is yet to come.
Dogecoin price outlook for the next 6 months
Ash Crypto, a prominent crypto expert with 1.2 million followers on X, recently common its prospects for various crypto assets. He expects his projections to come to fruition over the next six to 12 months.
As for Bitcoin, he expects a peak between $150,000 and $250,000. Notably, Bitcoin is trading at $90,500 at press time, meaning a move to $250,000 would represent an additional 176% increase.
In this scenario, Ash expects Dogecoin to finally cross the much-anticipated price of $1 in 6 months.
Dogecoin’s recent rise has brought its price to $0.4359, putting $1 at just 130%. However, DOGE lost momentum and has since fallen to $0.3566.
Meanwhile, Ash projects that in 12 months, Dogecoin could trade between $1 and $3.
From its current price of $0.3906, Dogecoin investors today could potentially see an additional 668% gain. Meanwhile, analysts like Ali Martinez have released even bolder price predictions for Dogecoin.
Dogecoin could even rally 4,443% by next year
According to Martinez, Dogecoin could skyrocket to 4,443%, potentially reaching $18based on its current position in an ascending price channel. Still, he thinks DOGE could go even higher.
Specifically, Martinez cited historical patterns suggesting that Dogecoin could undergo a parabolic run with a target price of up to $23.25. This higher projection is based on Fibonacci retracement levels and past breakout trends.
There will be dips along the way
However, Martinez warned that Dogecoin’s predicted rally will not be “just up,” noting that periodic declines will occur, consistent with past trends.
For example, in 2017, Dogecoin surged 9,470% but experienced two significant corrections: one of 40% and the other of 84%. Similarly, in 2021, DOGE has soared 30,700%, with pullbacks of 46% and 53%, reassuring investors that major declines will accompany any future gains.
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