Analysts continue to broadcast positive outlook on Dogecoin (DOGE)and price targets become more ambitious.
In the latest case, one analyst appears to have increased his Dogecoin target for the 2025 bull run tenfold.
Will Dogecoin (DOGE) exceed $20?
Prominent crypto analyst Javon Marks has claimed that Dogecoin (DOGE) could surpass the price of $20 in the current bull cycle.
The analyst highlighted this in a recent X postarguing that the bull market performance of the dog-themed meme coin has been progressively greater and that the recent cycle appears to be following the same path.
Marks shared a chart highlighting that the price of DOGE increased 90 times during the 2017 bull run and 306 times in 2021.
As a result, the analyst expects this trend to continue with the rally beginning in late 2024 with a target above the $20 mark.
Marks’ latest projection represents a staggering tenfold increase from his previous one $2.28 target for DOGE, based on the asset’s price performance during previous bull cycles according to the Fibonacci expansion tool.
As the analyst pointed out, DOGE has typically bounced from the low above the 1.618 Fibonacci level in previous cycles.
Dogecoin Review Competition $20 Prediction
Unsurprisingly, Mark’s most recent prediction has sparked some doubts. For DOGE to reach the price of $20 with its current circulating supply of 147.3 billion coins, it would reach a market cap of $3 trillion.
For context, this exceeds the market capitalization of the market leaders. Bitcoin And Ethereum combined. At the same time, DOGE currently has a market capitalization of $45.8 billion.
Marks nevertheless insisted that the high price target was what the data suggested in response to criticism.
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