Crypto analyst Trader Tardigrade has suggested that it is premature to sell Dogecoin at its current price level. He provided a profit-taking zone for the leading meme coin in this market cycle.
Dogecoin Price Top Could Be in Double Digits
In a post, Trader Tardigrade indicated that the Dogecoin price at the peak of this bull run could potentially reach double digits. He mentioned that the profit-taking zone for Dogecoin in this cycle is between $10 and $30, implying that the meme coin could rally to at least $10 from its current price level.
The crypto analyst derived these Dogecoin price targets based on the price action in the 2021 bull run. He calculated the target from the bottom to the previous all-time high (ATH), then doubling the previous ATH as a base and projecting a triangle, which he identified as the profit-taking zone.
In line with this analysis, Trader Tardigrade advised market participants to begin securing profits at $10. His chart illustrated that Dogecoin’s price could potentially hit these double-digit targets sometime next year, without specifying an exact timeline.
It is important to note that Trader Tardigrade previously predicted that Dogecoin could reach $30 by March 2025 if it mirrors the 2021 bull run. Additionally, he forecasted that the meme coin could surge to $8.7 by August 2025 if it replicates its 2016 bull run. Another crypto analyst, Ali Martinez, also anticipated that Dogecoin could soar as high as $23 in this market cycle.
However, crypto analyst Master Kenobi recently expressed skepticism about any target above $5 for Dogecoin in this market cycle, deeming it unrealistic. He based this assertion on the potential market cap of DOGE if the meme coin were to achieve targets exceeding $5, which he believes is unlikely in the current bull run.
Conservative Targets to Keep an Eye On
In a post, crypto analyst Kevin Capital referred to the Dogecoin price targets he had previously outlined for the meme coin in this market cycle. He predicted that DOGE could reach $0.93 with a “good performance” in this bull run.
Furthermore, he projected that DOGE could rally to as high as $2.27 with a “huge outperformance” and potentially hit $3.80 with an “astronomical performance.” In his recent post, the crypto analyst also mentioned that intermediate targets within this range are also feasible. He highlighted $1.30 to $1.50 as a noteworthy range on his macro chart.
At the time of writing, Dogecoin’s price is trading around $0.42, reflecting a decrease of over 2% in the last 24 hours, according to data from CoinMarketCap.
In conclusion, Trader Tardigrade’s analysis suggests potential for Dogecoin to reach double-digit price levels in this market cycle, while other analysts offer more conservative targets to watch out for. The future trajectory of Dogecoin remains uncertain, with various predictions and projections circulating within the crypto community.
