Is Dogecoin Entering A Parabolic Surge? Analysts Predict DOGE Price to Peak Above $20

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Simon Chandler

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Simon Chandler

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

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Last updated: 

November 21, 2024

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Dogecoin has risen by 1.5% in the past 24 hours, with the DOGE price reaching $0.3872 after Bitcoin touched yet another all-time high yesterday.

The meme token is now up by 3.5% in a week, 96% in a fortnight and 183% in a month, having benefitted hugely (along with the rest of the market) from Donald Trump’s election victory earlier this month.

And while it has had a very good November, some analysts suggest that things are only warming up, with popular trader Ali Martinez claiming the coin has begun a “parabolic bull run.”

In fact, Martinez has given it a target range between $2.40 to $23.26 for the current bull cycle, and while the latter price may be very ambitious, DOGE certainly looks on course to exceed the lower level next year.

Is Dogecoin Entering A Parabolic Surge? Analysts Predict DOGE Price to Peak Above $20

Looking at previous historic runs, Martinez notes that if DOGE is to follow the upper and lower trajectories of its historical price action, it will end up somewhere between $2.40 and $18 next year.

He also points out that DOGE “tends to peak around the 1.618 and 2.272 Fibonacci retracement levels,” which in this case provides an upper target of $23.26.

Putting this two estimates together, he arrives at a target range between $2.40 and $23.

This implies that the DOGE price will rise between 519% and 5,840%, in relation to its price today.

Whichever way you look at it, these are big gains, but the current climate is so bullish that Dogecoin has a genuine chance of at least passing the lower target.

Since Trump’s re-election as a President, crypto has seen a regular feed of positive news, with the latest being yesterday’s confirmation that Gary Gensler will no longer be SEC Chairman after the incoming President’s inauguration.

DOGE itself has also enjoyed some very bullish news, including the recent announcement that longtime Dogecoin support Elon Musk will head a new commission that will be officially known as the Department of Government Efficiency (D.O.G.E.).

This raises the possibility that the meme token could profit directly from the Trump administration, although no one has explicitly mentioned or discussed anything in this regard.

As for today, its chart shows it losing some momentum after dropping in the past hour, although this sets it up nicely for a strong weekend.

As such, the DOGE price could return to $0.40 over the next few days, before reaching $0.50 by early December.

Bullish New Meme Coins with Strong Fundamentals

While many believe that DOGE could have a very big 2025, now is a good time to diversify into smaller cap tokens, since the bull market is likely to lift many boats in the coming weeks.

Also profitable are presale coins, which if they attain a critical mass during their sales can then go on to rally big upon listing.

One example with a good prospect of doing this is Crypto All-Stars (STARS), an ERC-20 coin that has now raised a very impressive $5 million in its soon-to-be-ending sale.

Crypto All-Stars is exciting because it’s the first token in the market to provide a ‘MemeVault’, a protocol in which holders of any meme token can stake their funds.

Crypto All-Stars makes use of the ERC-1155 multi-token standard, enabling it to tokenize any cryptocurrency, including coins not based on Ethereum.

This gives the project a very wide market, and what’s exciting is that users who stake meme coins with its protocol will receive more rewards if they hold more STARS tokens.

This should result in STARS experiencing big demand, with the coin having a max supply of 42.069 billion.

New investors can join the fray by going to the official Crypto All-Stars website and connecting their wallets.

STARS currently costs $0.0015997, with this being the final price before the sale ends in 28 days.

And with over 17,000 followers on X, investors should act quickly, since STARS’ opening could be a big one.

Buy STARS Now