Dogecoin, the popular meme coin, might be about to take off, according to some analysts.
Dogecoin Could Hit New Highs
Crypto analyst Javon Marks thinks Dogecoin could reach its previous all-time high of $0.73. He’s predicting a massive 431% jump from its current price. He’s basing this prediction on Dogecoin’s past performance and believes it’s in the early stages of another big price surge.
Marks even thinks Dogecoin could go even higher, reaching $3. This wouldn’t be the first time he’s predicted a huge rally for Dogecoin. He previously said it could reach $17, based on its historical performance in bull markets.
Another Analyst Agrees
Another analyst, Dima James, shares a similar view. He thinks Dogecoin will outperform Bitcoin and reach double digits, with a price target of $10.
Elon Musk’s Influence
Dogecoin’s recent price surge is partly due to Elon Musk. He mentioned a “Department of Government Efficiency” (D.O.G.E) at a town hall, which sent Dogecoin prices up.
Musk’s strong connection to Dogecoin makes it react positively to his mentions. This isn’t the first time Dogecoin has rallied after Musk talked about it.
Dogecoin Still Lagging Behind
Despite this recent rally, Dogecoin is still lagging behind other popular meme coins like Pepe and Dogwifhat.
Only time will tell if Dogecoin will live up to these predictions. But with analysts predicting big gains and Elon Musk’s influence, it’s definitely worth keeping an eye on.
