Dogecoin Price Prediction Following TradingView Trader’s Analysis – $12 DOGE Possible?
As the Dogecoin (DOGE) price consolidates near $0.16 and close to its 21DMA, investors are questioning whether a pump to $12 could be on the cards after a TradingView trader put forth a compelling bullish price prediction.
TradingView user Crypto_Kinfolk noted that, looking at Dogecoin’s price history, there have been two previous major price run-ups.
DOGE saw “over 21,000% gains between 2015 and 2017”, before “touching over 50,000% gains during the 2020/2021 crypto bull market”.
“Each cycle DOGE has nearly mimicked its prior cycles bear market, accumulation period and eventually, a mind-melting bull run”.
“We have completed the bear market and are currently breaking out of accumulation,” Crypto_Kinfolk noted.
His personal targets are for the Dogecoin price to reach $4.20, $10.10 and $12.
To conclude, Crypto_Kinfolk noted that this is a real possibility amid the possibility that Elon Musk adds DOGE as the main currency for the X platform.
Dogecoin Price Prediction – Where Next for DOGE?
The Dogecoin (DOGE) price is currently sat around the mid-point of its $0.12-22 range of the past three months.
It remains locked close to both of its 21 and 50DMAs, suggesting a lack of bullish or bearish momentum.
But with Bitcoin nearing yearly highs and other cryptos also performing well recently, DOGE could soon play catch up.
If DOGE was to hit $12, that would mean gains of around 75x from current levels.
As a result, DOGE could easily be one of the meme coins to buy now.
However, given Dogecoin’s already bloated market cap of $23.3 billion, some might be sceptical that the coin can 75x.
That would involve Dogecoin reaching a market cap of around $1.75 trillion, over $250 billion more than Bitcoin’s right now.
Traders looking for 50-100x gains would be better of investing in new memes before they become popular.
This is a very risky strategy, as there is no guarantee a new coin will gain traction.
But one new meme coin that analysts at Cryptonews.com think has a lot of potential is PlayDoge (PLAY).
Introducing #PlayDoge – the only #P2E Doge companion! 🐶
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY. 💰
Don't neglect your doge, his life's on the line 😲💀
Join the #Presale Now ⬇️https://t.co/JT0VEofqf2 pic.twitter.com/RoJYXLS1FH
— PlayDoge (@PlayDogeGame) June 3, 2024
The meme coin is packed with play-to-earn (P2E) utility and powers a fun, mobile-based game.
The crypto presale has already raised close to $2.7 million despite only launching a few weeks ago.
Gamers – we have leveled up to $2.5 Million raised! 👏
BUY NOW before the next price increase!⏳
Grab your $PLAY tokens now to enjoy classic 2D adventures and stack up more #Crypto!#Presale➡️ https://t.co/JT0VEofY4A#PlayDoge #BNB #P2E #MemeCoin pic.twitter.com/U2EIycHI3B
— PlayDoge (@PlayDogeGame) June 6, 2024
At $0.005, PLAY is launching with a modest market cap of under $50 million.
Depending on how its game gains traction, PLAY could be one of the best meme coin plays this cycle.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
