Analyst Predicts Dogecoin Price Targets of $2.2 to $3.46
A crypto analyst suggests that the Dogecoin price rally may continue, with mid-term targets between $2.2 and $3.46. The analyst indicates Dogecoin is currently in wave 3 of the Elliott Wave Theory, anticipating significant price growth.
Analyst Predicts Dogecoin Price Macro Target
Hov, a crypto analyst on X (formerly Twitter), has analyzed Dogecoin's future price movements using Elliott Wave Theory. He noted a 690% rally after Dogecoin reached a critical macro entry level.
According to Hov’s chart, the current price action is in the third Elliott Wave, characterized by strong growth. This phase is typically the most robust within the five-wave sequence of the Elliott Wave theory.
The price chart indicates that Dogecoin has entered its third wave after breaking out from a consolidation period around $0.27. Hov forecasts a rise to macro targets of $2.2 to $3.46, with an ultimate target of $4.2 if bullish momentum continues, requiring a 976% increase from current levels.
Analyst Reveals Next Dogecoin Local Tops
As DOGE approaches the $1 mark, analyst Trader Tardigrade has outlined upcoming local tops for Dogecoin. The analyst noted multiple local market tops recorded over the past year following significant rallies, each exhibiting a doubling pattern.
Following this trend, Dogecoin reached a local top of $0.11 in October 2023, then doubled to approximately $0.22 in April 2024. A similar pattern occurred in October 2024, with the price peaking at around $0.44.
Based on this doubling pattern, Trader Tardigrade predicts Dogecoin will maintain this trend until it reaches an all-time high of $5. The analyst anticipates the next local top at $0.88 by April 2025, followed by a projected price of $1.76 in July 2025, and a potential rally to $3.52 by October 2025.
