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Crypto Scofield, a widely followed analyst, believes it is now time for Dogecoin (DOGE) to experience a massive pump that drives its price to $3.
The seasoned analyst shared this sentiment in a post on X, highlighting his price targets for various altcoins. He made the announcement as Bitcoin first broke into the $99K price level, showing readiness for the long-awaited $100K milestone.
Time for Dogecoin to Pump to $3
According to Crypto Scofield, the altcoin market is now ready to follow Bitcoin’s lead and push into all-time-high price ranges. Among the highlighted tokens was Dogecoin, which the analyst suggests could peak at $3.
Notably, Dogecoin is currently priced at $0.4775 as of today, a level not seen since 2021. When Crypto Scofield first made his call for Dogecoin to pump, DOGE was trading at around $0.3700. Essentially, the asset has already surged by approximately 30% in less than two days since the call.
The analysis projecting further upside suggests that market participants who join the Dogecoin rally today could see significant returns from the projected price surge. For context, if Dogecoin were to reach $3 from its current price of $0.4700, it would represent a massive 710% price increase for those buying now.
Views of Other Analysts on Dogecoin Reaching $3
Crypto Scofield is not the only one projecting that Dogecoin could reach $3. Two weeks ago, Ash Crypto, an analyst with 1.3 million followers on X, also suggested that Dogecoin could hit $3 within the next six to twelve months. Technical analyst Crypto Yapper has also voiced similar sentiments regarding Dogecoin’s potential.
Ambitious DOGE Outlooks Beyond $3
On the more ambitious side, analysts like Javon Marks and Ali Martinez have issued even bolder targets for Dogecoin. Marks, for example, cited historical patterns to argue for a monumental 21,700% rise in Dogecoin’s value.
Meanwhile, Martinez has also looked at historical trends and proposed a 7,900% growth to $23. In a separate analysis, he used other indicators to suggest a $18 price point.
However, these ambitious estimates rely heavily on historical patterns repeating, and critics have dismissed them as highly speculative, citing concerns over market cap implications.