Analysts and investors alike have Dogecoin under the microscope, especially in light of recent forecasts indicating a possible price increase. Market analyst Javier Santini has made headlines with his forecast that Dogecoin could reach $4 within a week after an ongoing correction phase.
Analyst opinion
Javier Santini, founder of Elemento Cripto, bases his prediction on how prices have changed since Dogecoin’s inception in 2017. He says dips below all-time highs will likely last a month or more before the coin begins to rise again. .
Every medium cooldown (below ATH) since the start of $DOGE It lasts exactly 1 month at +24. A fact since 2017.
The next and first hyperbolic impulse will begin next week and should reach $4 in a week or less. $XRP at $25.
The news should be very unexpected. pic.twitter.com/1Y2HpinqrH
—Javier Santini (@javierosantini) December 21, 2024
After reaching a high of $0.48 following the results of the US presidential election in early December, Dogecoin It is currently in the correction process. It has since fallen 35%, but according to Santini, this collapse is a normal part of the market cycle.
Santini claims that Dogecoin’s historical data demonstrates recurring trends throughout corrections. Based on Dogecoin’s weekly chart, it provided information showing that each cooling-off period has lasted about a month.
He believes that Dogecoin will have a big rally after this correction, which he believes will end soon, and could reach $4 in just a week. Compared to its current price of approximately $0.3253, this would indicate a staggering growth of over 1.168%.
Market sentiment and general patterns
Dogecoin excites and worries people. Some investors are wary of cryptocurrencies due to their volatility, but others want to make profits. While the correction has drawn attention, analysts like Santini say such swings are normal and often precede big rallies.
Another expert @Degengambleh predicts that Dogecoin will reach $4.20, supporting Santini’s optimistic estimate. Expect another rise as a 1,000-day accumulation pattern shows substantial underlying support for the cryptocurrency.
Multiple variables
If Dogecoin really achieves these lofty goals The future will depend on numerous variables, including the market mood and broader developments within the cryptocurrency space. Very soon, we may witness another chapter in this remarkable Dogecoin story (a rapid rise after a period of consolidation) if Santini’s theory is correct.
Although the Dogecoin price prediction is quite vague, there is an optimistic atmosphere that comes from the previous trends and how the market is behaving today. With this, investors are challenged to be aware and conduct in-depth research as they navigate this dynamic financial landscape.
Featured image from Pexels, chart from TradingView
