Analyst Predicts Dogecoin Price Could Reach $1.30 to $1.50
The Dogecoin price is consolidating just below $0.44, with positive sentiment at a multi-year high. Crypto analyst Kevin (@Kev_Capital_TA) projects a potential price target of $1.30 to $1.50 based on macro analysis, identifying this range as critical for future movements.
Kevin’s Macro Analysis and Earlier Projections
This bullish outlook builds on Kevin's earlier analysis from September 18, where he noted broader price targets coinciding with a golden cross on the weekly chart, indicating bullish momentum. He suggested that during this cycle, Dogecoin could reach prices between $0.93 and $3.80, surpassing the 2021 peak.
At that time, Dogecoin traded at $0.10 and was poised to break a descending channel, later peaking at $0.44, marking a 340% increase. The formation of the golden cross has reinforced a bullish perspective, making the $1.30-$1.50 target a viable midpoint for potential growth.
The Path to $1.5
Current chart patterns and market sentiment support Kevin's optimism. At present, Dogecoin trades at $0.4237, down approximately 2.5% from its recent peak of $0.44, its highest since May 2021. Achieving $1.30 or $1.50 would represent increases of 172% and 240%, respectively, from current levels, contingent upon breaking above $0.44 and its all-time high of $0.7316.
With a 330% gain over the past six weeks, Dogecoin shows signs of sustained growth, bolstered by favorable market conditions and technical indicators. Enthusiasts are particularly focused on an upcoming address by Elon Musk and Vivek Ramaswamy to Congress on December 5.
