Dogecoin's crazy rally, can it reach $12 in June?
Dogecoin is one of the cryptocurrencies that has received a lot of attention from analysts recently. Given that the meme coin is expected to perform well again in this bull run, cryptocurrency analyst Crypto Kinfolk pointed out what the price of Dogecoin may eventually reach as the bull run arrives.
Dogecoin enters expansion phase In an analysis published on the TradingView platform, cryptocurrency analyst Crypto Kinfolk listed possible scenarios in which the price of Dogecoin may soar from now on. The cryptocurrency analyst started with a brief history, highlighting how far this meme coin has come since it was created as a joke in 2013.
Moreover, having such a long history makes it possible to conduct historical analyses of this meme coin. One of these historical analyses is how the price of Dogecoin performed in previous bull runs. In the two most recent bull runs, those of 2017-2018 and 2020-2021, the price of Dogecoin rose sharply by 21,000% and 50,000%, respectively.
However, the analyst did not stop there and expected the meme coin to perform well further. The second target is a 6,100% increase to the $10.10 level. Last but not least, the third target is $12, with a predicted price increase of 7,200%. Crypto Kinfolk concluded: "There are rumors online that Elon may add DOGE as a native currency for the X platform, which is a real possibility. I think it is counterproductive to think that this type of gain is impossible to achieve."
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