Over the past two weeks, the cryptocurrency market has been showing visible signs of huge potential. The conclusion of the US presidential election on November 5 has again caused optimism among market participants, as Bitcoin ($BTC
) declares a new ATH above $93 thousand, and altcoins show rapid jumps.
The Cryptocurrency market is in a Bullish Phase
Against the background of the prevailing bullish mood, numerous market speculators adjusted their price targets for most of the market. Well-known market analyst Ash Crypto is one such person.
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 twelve months. The latest prediction appeared against the background of a consolidation phase, during which BTC fell by 3.52% on November 14, and $DOGE
collapsed by as much as 9.14%.
The analyst suggested that Bitcoin, which is currently trading at $91,165, could rise sharply to a price range of $150,000 to $250,000 from now until the fourth quarter of 2025. This will mean an increase from 65% to 174% for BTC.
In addition, his price target for Ethereum, the king of altcoins, is in the range of $10,000 to $15,000. At the current $ETH
price of $3,150, it will need to grow by 217% to 376% to reach this range. Ash also predicts that XRP could rise by 228% to 447% to reach a price of $3 to $5.
Dogecoin Price Forecast
Meanwhile, in a market scenario with such indicators, the analyst believes that Dogecoin can perform excellently. Dogecoin is currently trading at $0.377, up 137% since November 3. Ash Crypto expects DOGE to rise another 165% to $1 as the minimum maximum price for the ongoing bullish rally.
However, he also expects the meme coin to grow even more from $1 to a price of $3 if market conditions are favorable. In order for Dogecoin to qualify for the $3 level, it will need to grow by a huge 695%, which may make it one of the market leaders.
The noticeable growth of Dogecoin over the past two weeks suggests that such growth may be feasible for a meme coin. In addition, after the 2020 presidential election, which preceded the bull run at that time, DOGE rose from $0.00257 in November 2020 to its ATH of $0.7399 in May 2021, which means an increase of 28,456% in seven months.
If the meme coin repeats at least a tenth of the 2020/2021 rally, its price may exceed the target price of $3. However, Dogecoin will find it difficult to grow by that amount in this bull run due to its market size. For reference, a price of $3 would put DOGE at a market capitalization of $440 billion.
