Analyst Places $1 Price Target On Dogecoin Ahead Of ‘Memecoin Supercycle’

Dogecoin has mostly moved sideways or declined in its 9.5 years. However, the memecoin has defied these patterns and achieved 6,000% and 30,000% value increases. A market analyst has stated that the fact that all rallies occurred 8 or 9 months after Bitcoin’s supply was half every four years is intriguing.

The price of Dogecoin (DOGE) has been sideways since May, settling at $0.1274. Based on prior trends, the analyst expects it to rise to $1 after December 2024. The Analyst feels the current positive trend may fall lower to the 8-10 cents range and retrace the February surge up as expected. The analyst predicts that the trend may retreat to the 8-10 cents area and retrace the February spike. The analyst attributes this optimistic prediction to the memecoin supercycle. Due to past trends, the supercycle can also see DOGE reach $1-$2. Besides, the analyst suggests we have time to prepare.

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