A market analyst has revealed when Dogecoin will surge to the $10 price following a series of carefully studied technical indicators.
The cryptocurrency market has been in a correctional phase.
Major assets like Bitcoin, Solana, and Dogecoin have corrected substantially in the past week.
For context, Dogecoin retested a six-week low of $0.26216 on Dec. 20. Although the asset has rebounded from the area, the meme coin still faces intense selling pressure.
However, notable analyst Dima James Potts has insisted that Dogecoin rebound strongly and surge to a cyclical high of at least $10. Furthermore, the analyst provided a timeline for the price attainment.
Dogecoin Headed for $10 Next Year
Potts noted in a recent analysis that Dogecoin will trump its all-time high of $0.73995 and surge over 3,095% to $10 next year. The analyst speculated that growing adoption and technological advancement will be the main drivers of the bullish upsurge.
Interestingly, Potts provided a timeline for the price attainment. In his commentary, he noted that the leading meme coin will hit $10 between Feb. 11 and May 7, 2025. He further elaborated on the timeline, stating that it would correlate with Bitcoin’s first market top within the period mentioned earlier.
Meanwhile, the analyst’s chart shows that Dogecoin could surge over $10 this cycle. The accompanying chart shows that the largest meme coin by market cap could reach $80 in a bull case.
Dogecoin, the largest memecoin by Market capitalization
Dogecoin remains the largest memecoin by market capitalization exchanging hands for $0.322 at the moment.
- The memecoin was initially shilled by Elon Musk in its early stages before a lawsuit against him halted his open support for the memecoin.
- Dogecoin is part of the Dog-themed meme coins and has a market capitalization of $47.5 billion.
- Dogecoin was one of the highest performers in the crypto market following the Donald Trump-induced bull run that started in November.
However, the memecoin has cooled down at the moment dropping by 26.6% in the last 30 days.
What to Know
- Addresses holding over 1 million Dogecoin hit an all-time high as whales go into Dogecoin acquisition full-time. The memecoin attracted a lot of investors during the November Bull run as it outperformed most of the Altcoins.
- Memecoins are crypto tokens inspired by an internet meme or popular personality. They usually have no real-world utility and are powered by their respective communities. Some memecoins have started adding Utility to their use cases as criticism against memecoins continues to grow within the crypto community.