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Dogecoin

Dogecoin Price Prediction: ‘DOGE Train Has Left The Station,’ Analyst Says

Godspower Owie
by Godspower Owie
1 year ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cryptocurrency analyst Captain Faibik has shed light on his predictions concerning the meme-inspired cryptocurrency Dogecoin (DOGE), suggesting that a massive price rally is imminent for the crypto asset.

The Crypto Analyst’s Projections For Dogecoin

The crypto analyst took to his official X (formerly Twitter) handle to share his predictions on Dogecoin. According to him, an epic pump is on its way as the DOGE train has already set off from the station.

Related Reading: Dogecoin Ready For Blast-Off: NTIA Approves DOGE Moon Mission

Faibik’s X post was accompanied by a chart of the meme coin showing a potential rally for DOGE. The chart shared by the crypto expert shows a massive price surge from a price range of $0.08 to $0.70. 

If the analyst’s price prediction comes to pass, the surge would result in a rise of more than 700%. It might take a while for Dogecoin to reach the $0.7 price mark, given that it hasn’t been able to hit its all-time high of $0.74 since 2021.

Dogecoin
DOGE to increase by over 700% | Source: Captain Faibik on X

Captain Faibik’s projections coincide with DOGE’s recent spike in its number of addresses. The meme coin’s total number of addresses recently crossed 5 million due to the growing adoption of the cryptocurrency in the last few weeks. The addresses have been steadily rising since the year’s beginning, and the increase is most likely buttressed by “Dogecoin Doginals.”

The token has also witnessed a massive amount of older DOGE beginning to leave the dormant wallets, indicating a potential increase in value for the meme coin. 

Last week, the crypto asset saw about 300 million DOGE tokens transferred to the cryptocurrency exchange, Robinhood, which caught the attention of traders and investors, as expectations of a price crash rose.

Several Pumps On Its Way For The Meme Coin

Faibik is not the only analyst who has predicted a pump for the crypto asset. Another prominent crypto analyst known as Crypto Tony has also shared his optimism about Dogecoin.

According to the analyst, DOGE is currently seeing lovely pumps and this is just the beginning. He further went on to congratulate those who invested in the token during its lows.

Related Reading: Dogecoin Millionaire Turns to New Crypto Frontier: The Next Big Investment?

Dogecoin price seems to be gaining momentum due to the ongoing rally in the cryptocurrency market lately. The price of DOGE has increased by over 22% in the past 30 days and is currently trading at $0.10 as of the time of writing.

According to CoinMarketCap, the price of the asset has increased by over 16% in the past 24 hours. Meanwhile, its trading volume has also increased significantly in the past 24 hours, with an over 61% increase.

Over the past several years, DOGE has evolved from its initial status as a meme token to a notable anomaly among cryptocurrencies. The digital asset recently reached its highest level since April 2023, and it has since maintained that momentum.  

Dogecoin
DOGE trading at $0.10 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image by iStock, chart by Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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