Dogecoin Price Could Reach $80 by May 2025, Analyst Predicts
Crypto analyst Dima James has suggested the possibility of Dogecoin (DOGE) rallying above $10 during this market cycle, referencing historical data to support his prediction.
Potential Price Targets for Dogecoin
Dima James shared a chart via an X post, indicating that DOGE could reach as high as $80 in this cycle. He anticipates the cycle top for Dogecoin between February 11th and May 7th, 2025, based on historical performance.
James analyzed daily charts, noting that year 4 typically marks the peak of each cycle for DOGE. He referenced an indicator that has accurately predicted all Bitcoin tops, highlighting that DOGE peaks three to four weeks after Bitcoin's top. He expects DOGE's price to finish 2024 at $0.31, its best year 3 performance to date, with potential for greater results in 2025 due to increased adoption and technological advancements.
Local Bottom Analysis for DOGE
Crypto analyst Trader Tardigrade indicated that DOGE may have found a local bottom, citing a Doji Dragonfly pattern at the Fibonacci level of 0.618 on the daily chart, suggesting a possible reversal.
Tardigrade noted that DOGE was previously stuck in a range and predicted that breaking above this range could lead to a rise towards the $1 psychological level. He observed that DOGE has entered the Gaussian channel on the daily chart, halting its downtrend at the mid-band, which indicates supportive conditions for a bullish reversal.
As of now, Dogecoin is trading around $0.33, reflecting an increase of over 12% in the last 24 hours, according to CoinMarketCap.
