thecryptobasic.com
With Dogecoin (DOGE) standing out as the best-performing crypto asset among the major cryptocurrencies, market experts foresee further price gains over the coming months while the crypto bull run continues.
Dogecoin continues to trade at a three-year high following a sensational bull run over the last few days, which propelled it into the top six cryptocurrencies by market capitalization. At press time, Dogecoin is trading at $0.3961, boasting a 250% gain in the last 30 days. By comparison, Bitcoin has surged by only 40% during this period.
Although Dogecoin’s explosive upswing has cooled off in the past two days, analysts remain confident that the best is yet to come.
Dogecoin Price Outlook for the Next 6 Months
Ash Crypto, a prominent crypto pundit with 1.2 million followers on X, recently shared his outlook for various crypto assets. He expects his projections to materialize over the next six to twelve months.
As for Bitcoin, he predicts a peak between $150K and $250K. Notably, Bitcoin is trading at $90,500 at press time, meaning a move to $250K would represent an additional 176% increase.
In this scenario, Ash expects Dogecoin to finally break the much-anticipated $1 price point in 6 months.
Dogecoin’s recent surge took its price to $0.4359, putting $1 just 130% away. However, DOGE lost momentum and has since dropped to $0.3566.
Meanwhile, Ash projects in 12 months, Dogecoin could trade between $1 and $3.
From its current price of $0.3906, today’s Dogecoin investors could potentially see an additional 668% gain. Meanwhile, analysts like Ali Martinez have issued even bolder price predictions for Dogecoin.
Dogecoin Could Even Rally 4,443% by Next Year
According to Martinez, Dogecoin could soar by up to 4,443%, potentially reaching $18, based on its current position within an ascending price channel. Yet, he believes DOGE could go even higher.
Specifically, Martinez cited historical patterns suggesting that Dogecoin could undergo a parabolic run with a target price as high as $23.25. This loftier projection is based on Fibonacci retracement levels and past breakout trends.
There Will Be Dips Along the Way
However, Martinez has cautioned that the projected Dogecoin rally will not be “up only,” noting that periodic dips will occur, consistent with past trends.
For example, in 2017, Dogecoin surged 9,470% but experienced two significant corrections—one of 40% and another of 84%. Similarly, in 2021, DOGE soared 30,700%, with pullbacks of 46% and 53%, reassuring investors that major dips will accompany any future gains.