- Crypto analyst Hov predicts that Dogecoin price could rise to between $2.2 and $3.46 during the third wave.
- Dogecoin’s 690% rally follows the exit from consolidation, with an ultimate target of $4.2 if bullish.
- Trader Tardigrade predicts that DOGE will reach $0.88 by April 2025, continuing its 2X trend.
A prominent crypto analyst has predicted an impressive price surge for Dogecoin, projecting medium-term targets between $2.2 and $3.46. The analysis, based on Elliott Wave theory, suggests that the popular cryptocurrency is currently experiencing its strongest growth phase.
Wave Theory Predicts Dogecoin Rise
In a post shared on X on November 25, crypto expert Hov underlines the significance of Dogecoin’s current rally. He noted that the cryptocurrency is up an impressive 690% since hitting a crucial macro entry point. Hov attributed this price movement to the third wave of the Elliott Wave Theory, a phase often characterized by a sharp rise in price and bullish momentum.
Dogecoin recently broke out of a long period of consolidation within a crucial support zone near $0.27. Coming out of this level, the coin began its ascent towards the third wave. Hov’s chart analysis suggests that DOGE’s rally could propel the price towards macro targets between $2.20 and $3.46. Additionally, if the bullish momentum continues, DOGE could reach an ultimate high of $4.2, representing a staggering 976% growth from its current price.
Historical trends signal new highs
Another crypto analyst, Trader Tardigrade, has identified Consistent bullish patterns in Dogecoin price history. According to his observations, DOGE has followed a “2X relationship” for its local prices over the past year. This means that the price of the coin doubled with each new local peak.
Data reveals that the cryptocurrency reached a local high of $0.11 in October 2023 before doubling to $0.22 in April 2024. This trend repeated in October 2024, with DOGE reaching a new local high of $0.44. Trader Tardigrade believes this pattern will persist, potentially driving the meme coin to unprecedented levels.
Based on these historical patterns, Trader Tardigrade predicts that Dogecoin will reach a local high of $0.88 by April 2025. By July 2025, the price is expected to exceed $1, reaching $1.76. Continuing this upward trajectory, the analyst predicts that it will reach a remarkable $3.52 by October 2025.
As Dogecoin’s price action aligns with these bullish forecasts, the crypto community is closely monitoring its progress. If these projections come to fruition, Dogecoin could establish itself as a dominant coin in the cryptocurrency market, driven by unwavering investor enthusiasm and historic momentum.
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