Cryptocurrency Scofield is a highly followed analyst who believes the time has come for Dogecoin (DOGE) to experience a significant surge and push its price to $3.
An experienced analyst shared a post on X expressing this view, emphasizing his price targets for various altcoins. He announced this news when Bitcoin first broke the $99,000 price level, indicating readiness for the long-awaited $100,000 milestone.
It's time for Dogecoin to rise to $3.
According to Cryptocurrency Scofield, the altcoin market is now ready to follow Bitcoin's lead and push toward historical price ranges. Dogecoin is one of the most watched tokens, with analysts believing its peak could reach $3.
Notably, as of today, Dogecoin's current price is $0.4775, the highest level since 2021. When Cryptocurrency Scofield first called for a Dogecoin rise, it was trading at about $0.3700. Essentially, within less than two days since the conference call, the asset has surged approximately 30%.
Analysis predicting further increases indicates that market participants joining the Dogecoin rally today could see substantial returns from the expected price surge. In context, if Dogecoin rises from the current price of $0.4700 to $3, this would represent a significant increase of 710% for those buying now.
Other analysts' views on Dogecoin reaching $3
Cryptocurrency Scofield is not the only one predicting that Dogecoin could reach $3. Two weeks ago, analyst Ash Crypto, who has 1.3 million followers on X, also stated that Dogecoin might hit $3 within the next 6 to 12 months. Technical analyst Crypto Yapper has also expressed similar views on Dogecoin's potential.
Ambitious DOGE outlook exceeds $3
From a more ambitious perspective, analysts like Javon Marks and Ali Martinez have set bolder targets for Dogecoin. For instance, Marks cited historical patterns to argue that Dogecoin's value could surge by 21,700%.
Meanwhile, Martinez also studied historical trends and suggested a growth of 7,900% to $23. In another analysis, he used other indicators to suggest a price point of $18.
However, these ambitious estimates largely rely on the repetition of historical patterns, with critics arguing that they are highly speculative due to concerns over market capitalization impact.
