Dogecoin hasn’t hit its 2021 high yet, but some analysts are still super optimistic. They’re seeing similarities between Dogecoin and XRP’s price movements, predicting big gains for both.
XRP’s Liquidity Could Fuel Dogecoin’s Rise
One analyst, ProfessorAstrones, thinks money flowing out of XRP could push Dogecoin’s price way up. They pointed to a chart showing Dogecoin in a “bullish pennant” pattern, suggesting a breakout is near. Their prediction? Dogecoin hitting $1 soon, and potentially $3-$5 by 2025. This would require breaking past its current all-time high of $0.7316. The idea is that as XRP investors cash in, they’ll move their money to Dogecoin, another popular coin.
Other Analysts Agree
This idea of money shifting from XRP to Dogecoin isn’t unique to ProfessorAstrones. Other analysts like @CryptoGodJohn have shared similar predictions, expecting a Dogecoin surge after XRP peaks.
Chart Comparisons Add to the Theory
Analyst Jacob Canfield also noticed striking similarities in the price charts of Dogecoin and XRP. Both show higher lows and are turning resistance into support, hinting at upward trends.
The Current Situation
Right now, Dogecoin is trading around $0.44 (up 5% in the last 24 hours), while XRP is at $2.37 (down 10% in the last 24 hours). Whether this predicted liquidity shift will actually happen remains to be seen.
