The Dogecoin price has been experiencing a surge in activity since the beginning of November, leading to a new 2024 high and reaching the $0.30 mark, a level not seen since August 2021. With the current trend, it is speculated that Dogecoin could potentially reach a new all-time high very soon. The next 22 days are crucial in determining the market trajectory of Dogecoin, according to analysis by Master Kenobi on social media platform X.
Master Kenobi identified a recurring 91-day cycle in Dogecoin’s price performance during every market cycle. Currently on day 69 of this cycle, Dogecoin is entering a critical phase that could impact its short-term future. The upcoming 22-day period presents an opportunity for Dogecoin to achieve a “triple milestone” of surpassing a $100 billion market cap, reaching a new all-time high, and attaining the $1 price level.
There is a possibility of Dogecoin’s price reaching between $0.42 and $1 in the next 22 days, fueled by recent inflows into the meme coin. Reaching the upper end of this range would result in a new all-time high for Dogecoin. However, the current all-time high of $0.7316 poses a challenge, with the potential for Dogecoin to test this level again. Surpassing this resistance point would pave the way for reaching the $1 milestone.
Achieving a $1 price point would signify a market capitalization exceeding $100 billion, validating Dogecoin’s potential and maturity as a digital asset. If Dogecoin manages to achieve the triple milestone in the next 22 days, it would solidify its position as an asset with lasting impact.
The last time a 91-day cycle played out was in November 2020, and Dogecoin is currently trading at $0.2845, up by about 25% in the past 24 hours. Technical analysis suggests a potential Dogecoin price between $0.42 and $1 by December 2, representing a 40% to 250% increase from the current price.
Overall, the next 22 days are crucial for Dogecoin’s price trajectory, with the potential for significant milestones to be achieved. The market will be closely watching Dogecoin’s performance as it navigates through this critical period.
