Crypto analyst Tardigrade Merchant suggested that it was too early to sell Dogecoin at its current price level. This happened as it provided a profit-taking zone for the leading coin of this market cycle.
Dogecoin High Price Could Be Into Double Digits
In an X post, Trader Tardigrade reported that the price of Dogecoin at the peak of this bull race could be in double digits. He said that the Dogecoin profit-taking zone is between $10 and $30 in this cycle, suggesting that the meme coin would rise at least up to $10 from its current price level.
The crypto analyst set these Dogecoin price targets based on price action in the Running of the bulls 2021. According to him, the target is measured from the bottom up to the previous ATH, after which DOGE doubled that previous ATH as a base and then projected a triangle, which he highlighted as the profit-taking zone.
Along the same lines, trader Tardigrade asked market participants to start taking profits at $10. Its attached chart shows that Dogecoin price could reach these double-digit targets next year, although it does not indicate when exactly.
It should be mentioned that The trader Tardigrade predicted that DOGE could reach $30 by March 2025 if it reflects the 2021 bull run. He also predicted that the meme coin could reach $8.7 by August 2025 if it reflects its 2016 uptrend. Crypto analyst Ali Martinez also predicted that Dogecoin could reach as high as $23 during this market cycle.
However, the crypto analyst Master Kenobi recently declared that any target above $5 for Dogecoin in this market cycle is unrealistic. He made this claim regarding what DOGE’s market cap will be if the meme coin reaches targets above $5, which he believes cannot happen in this bull run.
Conservative goals to watch
In a post Kevin Capital has hinted at the Dogecoin price targets he previously set for the meme coin in this market cycle. The analyst predicted that DOGE could reach $0.93 if it enjoys a “good performance” in this bull run.
Meanwhile, he predicted that DOGE could reach $2.27 if it enjoys “huge performance” and reach $3.80 if he records an “astronomical performance”. In his recent X article, the crypto analyst also stated that anything between these goals is also possible. He added that he sees between $1.30 and $1.50 as the point of interest on his macro chart.
At the time of writing, Dogecoin price is trading at around $0.42, down more than 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com