Cryptocurrency analysts continue to make optimistic predictions about Dogecoin (DOGE), and these predictions are becoming increasingly bold. Most recently, famous analyst Javon Marks suggested that DOGE could exceed $20 in the 2025 bull market.
Javon Marks believes that Dogecoin could perform similarly in the future, considering its price movements in past bull markets. According to the analyst, DOGE’s price increased 90 times in 2017 and 306 times in 2021. Based on this historical data, Marks predicts that Dogecoin could surpass $20 in the current cycle with similar growth. Marks’ predictions are based on Fibonacci extension analysis. This analysis shows that in previous bull markets, DOGE has risen from lows to above the 1.618 Fibonacci level. The analyst notes that the same scenario could repeat itself this cycle, with DOGE reaching 10 times its $2.28 target.
Dogecoin’s prediction of reaching $20 has faced some criticism. Critics point out that DOGE’s total supply is around 147.3 billion and that its market cap would need to exceed $3 trillion to reach that level. This market cap is higher than the combined market cap of Bitcoin and Ethereum. As of now, Dogecoin’s market cap is around $45.8 billion.
Despite the criticism, Javon Marks maintains that his analysis based on historical data points to this price target. The analyst reminds us that Dogecoin has reached almost impossible price levels before.
It remains unclear whether Dogecoin will experience a significant price increase in the 2025 bull market. However, some critical factors can directly affect this process. These factors include DOGE’s strong performance in past bull cycles, the activity of its community, and institutional interest.
Community support and market sentiment will play a decisive role in Dogecoin’s future price movements. Moreover, the presence of strong supporters like Elon Musk stands out as one of the factors contributing to DOGE’s wider adoption.