Dogecoin (Doge) has demonstrated an ascending movement in the last 24 hours after a peer of trade. According to Coinmarketcap information, the main memecoin remains a favored option among investors during the current upward period, with almost 90% of its community expressing confidence in future price increases. In particular, the well -known cryptographic analyst Ali Martínez has shared an optimistic prognosis for Dogecoin, which suggests the potential of a remarkable price increase of 10,000%.
Is Dogecoin prepared for another Toro race?
In a recent publication about X, Martínez presented a positive Dogecoin analysis based on historical price trends. The encryption expert stressed that Dege saw a significant increase in 10,000% prices during the last bull cycle in 2021. In that period, the value of the memecoin increased from approximately $ 0.007 to $ 0.700 in just 98 days.
When examining current Doge commercial patterns, it seems to imitate the conditions that preceded the increase in prices in 2021. Martínez’s projections suggest that if Dogecoin replicates a similar bullish impulse, it could reach a market value of $ 14.78 by May 2025 .
The positive feeling that surrounds Dogecoin is currently high, indicating a substantial potential for a favorable result. Much of this optimism is linked to the potential launch of an ETF Spot Dogecoin. One of the recent developments includes Bitwise, a well -known asset management company, which presents a proposal for an “Bitwise ETF Dogoin to the Corporation Division in the United States Department of State in Delaware.
NewsbTC reports that the famous analyst Eric Bloomberg Balchunas has confirmed the existence of the proposed ETF Doge Spot, insinuating that it could be launched soon. Martínez’s previous prediction on the impact of an ETF Spot Dogecoin is aligned with these developments, which suggests a potential price increase at $ 15 based on institutional demand.
Dux Price Analysis
Currently, Dogecoin is valued at $ 0.354, which shows an increase of 1.72% in the last 24 hours. However, its daily negotiation volume has decreased by 30.09%, indicating a decrease in investor participation. Looking at the longest deadlines, Dege has experienced a 11.43% decrease in last week, but a notable gain of 13.96% in the monthly table, which recently indicates a general positive performance.
For short -term merchants, a cryptographic analyst under the username Kev_Capita_ta believes that Dogecoin could be entering an upward consolidation phase until the beginning of February. During this period, caution is recommended to avoid a possible price drop at $ 0.26. With a market capitalization of $ 52.43 billion, Dogecoin maintains its status as the largest memecoin and the seventh largest cryptocurrency worldwide.
