Cryptoharian – Dogecoin (DOGE), the original meme coin, is back in the spotlight with a bold prediction from an analyst who predicts a whopping 11,112 percent increase, potentially reaching US$37. This would be a historic milestone, taking Dogecoin well beyond its previous record high of US$0.70 achieved during the 2021 bull run.
Currently, Dogecoin is trading at $0.3315, after recovering from a weekly low of $0.2644, representing a 25.4 percent increase. This price recovery has sparked optimism, with some analysts believing that Dogecoin could soon enter a major uptrend.
In a recent tweet, crypto analyst Tardigrade outlined a technical pattern he calls the “Power of Three (PO3).” According to this framework, Dogecoin is going through three key phases: accumulation, manipulation, and distribution.
The accumulation phase, marked by price conditions, occurred between mid-November and mid-December. The manipulation phase began with Dogecoin's sharp drop to $0.2644 last week, effectively shaking out less-powerful investors.
Now, Tardigrade suggests that Dogecoin is entering a distribution phase, which is characterized by a sharp rally as the price surges towards the next major resistance level. He predicts that Dogecoin could break the $1 threshold in the near term, with potential higher targets during the next wave of market enthusiasm.
Here is a summary of the article about Dogecoin's rise predictions:
Dogecoin Rise Prediction
1. Analysts predict an 11,112% increase to $37.
2. Dogecoin is currently trading at $0.3315, having recovered 25.4% from its weekly low.
3. The “Power of Three” technical pattern shows the accumulation, manipulation and distribution phases.
Prediction Timeline
1. Distribution phase: sharp rally towards key resistance level.
2. Target $1 in the near future.
3. Potential target $30-$37 by May 2025.
Debate
1. Skeptics question the validity of predictions.
2. A market cap of $5.3 trillion is required.
3. Debate in the crypto community about the realization of predictions.
