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An analyst with nearly two decades of experience predicts Dogecoin price in a market scenario where Bitcoin, Ethereum and XRP respectively hit $250,000, $15,000 and $5.
The crypto market has been showing visible signs of immense potential over the past two weeks. The conclusion of the Nov. 5 U.S. presidential election has reignited optimism among market participants, as Bitcoin (BTC) claims a new ATH above $93K and altcoins see rapid spikes.
Crypto Market in a Bullish Phase
Amid the prevalent bullishness, multiple market speculators have adjusted their price targets for most of the market. Ash Crypto, a notable market analyst, is one such individual.
In a recent disclosure, he presented new targets for Bitcoin and 15 other crypto assets, including Ethereum, XRP and Dogecoin (DOGE), for the next six to 12 months. The latest prediction came on the back of a consolidation phase that saw BTC drop 3.52% and DOGE collapse by as much as 9.14% on Nov. 14.
The analyst suggested that Bitcoin, which currently changes hands at $91,165, could skyrocket to a price range of $150,000 to $250,000 from now till Q4 2025. This would mark a gain of 65% to 174% for BTC.
Further, his price target for Ethereum, the altcoin king, sits between $10,000 and $15,000. With ETH currently trading or $3,150, it would need to rally between 217% and 376% to reach this range. Ash also predicts that XRP could surge between 228% and 447% to reach a price of $3 to $5.
Dogecoin Price Prediction
Meanwhile, in a market scenario with such performance, the analyst believes Dogecoin could perform admirably well. Dogecoin currently changes hands at $0.377, having increased 137% since Nov. 3. Ash Crypto sees DOGE rallying by another 165% to $1 as its minimum top price for the ongoing bull run.
However, he also expects the original meme coin to expand further from the $1 to a price of $3 if market conditions are favorable. For Dogecoin to claim the $3 level, it would need to rally by a massive 695%, possibly making it one of the top performers in the market.
Dogecoin’s remarkable upsurge over the last two weeks suggest that such a rally might be feasible for the meme coin. Also, following the 2020 presidential election that preceded the bull run at the time, DOGE rallied from $0.00257 in November 2020 to its ATH of $0.7399 in May 2021, marking a 28,456% rise in seven months.
If the meme coin replicates only a tenth of the 2020/2021 rally, its price can surpass the $3 price target. However, Dogecoin would have a hard time surging by such magnitude in this bull run due to its market size. For context, a $3 price would place DOGE at a $440 billion market cap.