Dogecoin (Doge) showed some bullish movement on the last day after a somewhat declining circulation. based on Data from CoinmarketCapThe leading Meecoin coin remains the favorite of investors in the current rise season, with approximately 90 % of its community in future prices. It is worth noting that the prominent cryptocurrency analyst Ali Martinez has dropped another bullish prediction on Dogecoin, which indicates the possibility of registering a distinctive symbol to increase the price by 10,000 %.
Can Dogecoin repeat the upscale achievement?
In a Last post on XMartinez shared a positive analysis of Dogecoin based on historical price data. According to encrypted currency analyst, DOGE has seen an increase in the price by 10,000 % in the last upscale cycle in 2021. During this period, the value of Memecoin increased from about $ 0.007 to $ 0.700 within 98 days.
Looking at the current DOGE trading scheme, the cryptocurrency offers a similar position when prices began to rise in 2021. Martinez’s expectations indicate that if Dogecoin is able to reflect such a strong upward up, it may reach a market price of $ 14.78 by May 2025.
As we mentioned earlier, budget feelings about Dogecoin are currently increasing, creating great potential for this very favorable scenario. A large part of this positive market morale is about the possibility of the presence of the Dogoin Spot ETF box. Amid the numerous developments that occurred last week, BitWise Director BitWise submitted a proposal to “BitWise Dogecoin ETF” to the US Department of State Department in Dillauer.
NEWSBTC reported that the Bloomberg analyst, Eric Balchunas, also confirmed the health of the proposed Dogot Spot Etf Fund, which “may come soon.” Interestingly, Martinez has previously expected that the instant DOGECOIN ETF will be a positive market for the market that pays DOGE prices to about $ 15 in line with his latest price. These expectations depend on the nature of Spot ETF designed to attract institutional demand as with Bitcoin.
DOGE price overview
At the time of writing the article, Dogecoin is 0.354 USD after 1.72 % gains last day. On the other hand, the daily trading volume decreased by 30.09%, indicating the decline in investor activity. On the larger time frames, DOGE reflects a 11.43 % loss on the 7 -day graph, but the amazing profit of 13.96 % on the monthly graph indicates a general positive performance in recent weeks.
For short -term traders, user currency analyst X Kev_CAPITA_TA Believe Dogecoin may enter an upward monotheism that is likely to continue until early February. During this period, the market expert warns that it is important for speculators to rise in the market to avoid the collapse of prices as the DOGE price is likely to decrease to a level of $ 0.26. Dogecoin, whose market value is $ 52.43 billion, holds the largest Memecoin, the seventh largest encrypted coin in the world.
