Analysts continue to give positive outlook for Dogecoin (DOGE).and price targets are becoming more demanding.
In the most recent case, an analyst appears to have increased his Dogecoin target for the 2025 bull market by tenfold.
Dogecoin (DOGE) will exceed $20?
Well-known crypto analyst Javon Marks has claimed that Dogecoin (DOGE) could rise above the $20 price mark in the current bull cycle.
The analyst emphasized this a current X postciting that the bull market performance of the dog-themed meme coin has been getting bigger and bigger and the recent cycle appears to be heading in the same direction.
Marks shared a chart highlighting that DOGE’s price increased 90x in the 2017 bull market and 306x in 2021.
Accordingly, the analyst expects this pattern to continue with the rally that began in late 2024 with a target above the $20 mark.
Marks’ latest forecast represents a staggering tenfold increase on his previous forecast Target $2.28 for DOGE, based on the asset’s price performance in previous bull cycles according to the Fibonacci expansion tool.
As the analyst pointed out, in previous cycles DOGE has typically recovered from the bottom to above the 1.618 Fibonacci level.
Critics dispute the $20 prediction for Dogecoin
Unsurprisingly, Mark’s latest prediction has raised some doubts. For DOGE to reach the price of $20 with its current circulating supply of 147.3 billion coins, it would reach a market cap of $3 trillion.
In context, this is more than the market capitalization of the market leaders Bitcoin And Ethereum combined. At the same time…
