Analyst predicts Dogecoin will rise 600% by the end of 2024

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As 2024 comes to an end, Dogecoin (DOGE) has attracted many investors and analysts who foresee a significant price fluctuation for the meme coin.

Analyst Javon Marks recently predicted that DOGE will reach a target of $2.28 by the end of the year. This positive view is based on a combination of market sentiment and technical analysis.

The technical side shows that Dogecoin has good bullish momentum in the short and medium term. With the current market sentiment, Dogecoin could rise by about 206% in the next three months.

This shows that people's interest in Dogecoin has increased as it continues to position itself as a potential investment tool. According to CoinCheckup, in the next six months, Dogecoin is expected to grow at a more moderate rate, but still reach 51%. This means that the upward trend of Dogecoin can maintain a healthy level.

Fibonacci extension analysis shows a bull market pattern for Dogecoin, which provides support for Javon Marks' prediction. Dogecoin rose from $0.00009 to $0.00748, matching the 1.618 Fib level in 2015-2017. In the 2020-2021 cycle, it rose from $0.00168 to $0.73, surpassing the 1.618 Fib level of $0.03912.

Although the price has fallen by about 46% since the high of $0.48, people are still generally hopeful. Many believe that if the overall market sentiment is good, DOGE can easily break through the barrier level and reach higher.

At the time of writing, the price of DOGE is around $0.3227. If Marks' prediction comes true, DOGE will be up 606% by the end of 2024.

The price of Dogecoin (DOGE) has risen and fallen a lot in the past. In 2017, the coin started to rise parabolically, rising 200%, then falling 40%.

After that, it rose wildly by 5,000%. DOGE also experienced a similar trend in 2021. It rose 476%, then fell 56%, and then rose 120%.

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