Based on crypto analyst Javon Marks’ recent analysis, a massive price breakout could be on the cards for Dogecoin (DOGE). The analyst suggested that this big move for the foremost meme coin could happen sooner than many would expect.
Dogecoin To Enjoy A 404% Price Breakout
Marks predicted in an X (formerly Twitter) post that Dogecoin could enjoy a price gain of over 404% to reach its current breakout target at $0.6533. He stated that this move may already be loading, suggesting it was imminent. He added that this next leg up “may be a matter of time, and prices could be preparing here for a break above.”
A move toward $0.6533 for Dogecoin is significant as it will mark a yearly high for the meme coin and possibly highlight the climax of a long overdue rally for the foremost meme coin, given its relatively unimpressive performance this year compared to other meme coins. However, based on Marks’ previous prediction, Dogecoin could still make more parabolic moves to the upside even after hitting the $0.6533 price target.
The analyst previously predicted that Dogecoin will rise to as high as $17 in this bull run. He made this prediction based on DOGE’s historical trend, in which the meme coin has always topped its previous bull run in every subsequent market cycle. As such, the analyst expects the meme coin to enjoy a larger price move in this bull run than the 22,800% price gain in 2021.
Meanwhile, crypto analyst Big Mike provided insights into when exactly Dogecoin could rise to $0.6. Based on the chart that the analyst shared, the foremost meme coin will hit or come close to that price target by year-end. Big Mike analyzed Dogecoin’s future trajectory using the Elliot Wave Theory, which showed that the foremost meme coin will reach $1 by September 2025.
DOGE’s Short-Term Move
Crypto analyst Trader Tardigrade recently provided insights into how high Dogecoin could rise in the short term. The chart he shared suggested that the meme coin would climb back to around $0.15, the price range from which it dropped following its June decline. Meanwhile, the analyst highlighted DOGE’s bullish outlook, noting that the meme coin has formed an ascending triangle at the bottom of its recent downtrend.
He further revealed that two double bottoms form the base, which he claimed is “so bullish” for Dogecoin. Crypto analyst Kevin (formerly OG Yomi) also recently provided a bullish narrative for Dogecoin, stating that his indicator has flashed a weekly buy signal for the first time since Dogecoin was at $0.05. He added that DOGE is about two green weekly candles away from confirming its first weekly golden cross in four years.
Featured image created with Dall.E, chart from Tradingview.com
Read More: Crypto Analyst Predicts 404% Price Breakout For Dogecoin, Here’s The Target