Widely followed analyst Crypto Scofield believes that Dogecoin (DOGE) is now due for a massive surge, pushing its price up to $3.
This seasoned analyst shared this viewpoint in a post on X, highlighting his price targets for various altcoins. He announced this when Bitcoin first broke the $99,000 price level, indicating that Bitcoin is ready to reach the long-awaited $100,000 milestone.
When Dogecoin will rise to $3
According to Crypto Scofield, the altcoin market is now ready to follow in Bitcoin's footsteps and enter historical high price ranges. The most watched token is Dogecoin, which analysts believe could reach $3.
Notably, as of today, Dogecoin's current price is $0.4775, a level not seen since 2021. When Crypto Scofield first called for Dogecoin to rise, it was trading at approximately $0.3700. In fact, since the call, the asset has skyrocketed about 30% in less than two days.
Analysts predicting further increases suggest that market participants joining Dogecoin's rally today could see substantial returns from the anticipated price increase. For context, if Dogecoin rises from its current $0.4700 to $3, it would mean a significant increase of 710% for those buying now.
Other analysts' views on Dogecoin reaching $3
Crypto Scofield is not the only one predicting that Dogecoin's price could reach $3. Two weeks ago, analyst Ash Crypto, who has 1.3 million followers on X, also predicted that Dogecoin's price could hit $3 within the next 6 to 12 months. Technical analyst Crypto Yapper has also expressed similar views on Dogecoin's potential.
The prospects for DOGE far exceed $3
Even more ambitious, analysts like Javon Marks and Ali Martinez have set bolder targets for Dogecoin. For instance, Marks cited historical patterns, suggesting that Dogecoin's value could soar by 21,700%.
Meanwhile, Martinez has also studied historical trends, predicting that the stock will rise 7,900% to $23. In another analysis, he used other indicators to forecast a price point of $18 for the stock.
However, these ambitious estimates largely rely on the repetition of historical patterns, and critics argue that these estimates are highly speculative and raise concerns about their impact on market capitalization.
