possibility of a higher target in Q1 2025. On the monthly chart, Dogecoin has followed a repeatable trend of targets based on Fibonacci lines.
Since 2014, the top and bottom of each bull market cycle have accurately predicted the next cycle top based on the 1.50 and 1.618 Fibonacci extensions.
The expected target was surpassed by 732% in 2021 compared to 2018. With a new all-time high possibly in sight, the expected target for 2024, based on Fibonacci extensions, is between $2.90 and $3.60.
Previously, Cointelegraph also reported a lofty target for Dogecoin based on the Gauss principle, which indicated a range between $3 and $5 by incorporating the law of diminishing returns.
A similar target range, established by different analyses, reinforces the possibility of DOGE reaching at least $3, which represents an additional 566% compared to current prices.
Can DOGE price reach $30?
Most price targets for Dogecoin in 2025 are based on its historical performances. Similarly, Dima James Potts, an independent crypto trader, has set an extremely high target for DOGE, above $10.
James Potts illustrated a recurring pattern for Dogecoin, where the cycle peak occurred after approximately 1,446 days.
Each cycle has surpassed the previous high, as mentioned above. Thus, Potts also expects a similar result in 2025. The trader stated:
“The top could occur around January 19, 2025. I believe this cycle will bring some of Dogecoin's biggest gains yet, as the percentage gains from each previous cycle have increased.”
The chart above has pinpointed $36 as the price target for Dogecoin, representing an 80x increase from current prices. In terms of market cap, this would roughly be around $5.3 trillion. For context, the total cryptocurrency market is valued at $3.5 trillion. Therefore, it is probably safe to assume that a price target above $30 for Dogecoin by January 19, 2025 is unlikely.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#TopCoinsSeptember #BinanceSquareFamily $DOGE
