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Is a New Dogecoin (DOGE) Bull Run on the Horizon? These Analysts Think so

1 year ago CryptoExpert
Is a New Dogecoin (DOGE) Bull Run on the Horizon? These Analysts Think so

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TL;DR

Dogecoin experiences a 10% weekly price decline after the recent bull run, following a broader market correction.
Predictions for DOGE’s price include significant increases, with discussions on its potential for reaching new ATH.

Dogecoin (DOGE) is among the worst-affected cryptocurrencies (from the top 10 list) from the latest market correction, with its price tumbling by 10% weekly. Recall that several days ago, the situation was completely different, and the valuation of the meme coin surged above $0.22 for the first time since November 2021.

DOGE Price
DOGE Price, Source: CoinGecko

Numerous analysts believe DOGE will soon rebound and rally towards new peaks. One example is the crypto content creator using the X handle Trader Tardigrade, who recently claimed that Dogecoin runs the “Cycle of 7 years.” They compared the asset’s price performance with the one from years ago to set $2, $9, and even $40 as future price tags:

“We can see a similar price action in the first half of the current cycle, compared to that of last cycle. When we were at $0.0007 in 2017, we never believed DOGE would spike to $0.003, $0.009 & $0.35. Today we are at $0.22, we won’t believe DOGE will be $2, $9 & $40. Don’t miss the opportunity. History repeats.”

Another crypto enthusiast with half a million followers – Mayne – touched upon the asset’s current market performance and envisioned two possible scenarios. DOGE could lose support at around $0.18 and enter a “much larger correction, or bulls may step in and “the party continues.”

Previously, Rekt Capital and the early Bitcoin adopter Davinci Jeremie outlined bullish forecasts, too. The former argued that DOGE could rally toward $0.30 due to the beginning of a new “macro trend,” while the latter opined that the meme coin is an asset investors should have in their portfolios.

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