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With a pivotal Golden Cross imminent, Dogecoin is stirring excitement in the crypto world. Kevin Capital foresees a stretch to $1.80, contingent on Bitcoin's performance, while Dima James raises the stakes, envisioning DOGE reaching $10 if historical patterns repeat.
Analyst Doubts Dogecoin's Path to $3.90 in Current Cycle
Kevin Capital expressed his doubts that Dogecoin's price will hit $3.90 this market cycle in an X post. As he indicated, in each Dogecoin cycle, the leading meme coin has achieved the 1.618 macro golden pocket.
The expert went on to say that $3.90 is the current macro golden pocket. Nevertheless, according to Kevin Capital, the global golden pocket for Dogecoin would be $1.80 if the price is calculated from its peak before Elon Musk's 2021 Saturday Night Live.
$1.80 May Be a "Stretch" but Possible
Therefore, he thinks the $3.90 aim is implausible and goes on to say that even $1.80 is a "stretch" but doable if Bitcoin's price rebounds.
Kevin Capital also disclosed that Dogecoin was about to undergo yet another weekly Golden Cross while conducting this study. He insisted that this had occurred four years ago as the most recent instance.
Golden Cross Signals Potential Dogecoin Rally
Before DOGE made a cycle high 119 days after the Golden Cross, the cryptocurrency saw a three-week decline and consolidation period.
If the price activity of DOGE follows the pattern of the last cycle, the expert predicts that it could cool down during the following 2-3 weeks. From December 2024 to April 2025, a parabolic rally will begin. Meme coin will reach its peak, according to Kevin Capital's prediction, somewhere in the middle to late spring of 2025.
Rival Analyst Sees Potential for DOGE at $10
Crypto expert Dima James has speculated that Dogecoin could potentially surge to $10 this market cycle, despite Kevin Capital's claims that a price gain to $3 is quite improbable.
In order to justify this potential price objective, the analyst made passing references to DOGE's weekly and historical performance. He said that the weekly chart shows that DOGE's performance has always been good following a crossover of the green and red lines, which results in green weeks.
Historical Patterns Support Parabolic Moves
Coingape points out that this pattern is resurfacing in this cycle, suggesting it has the potential to experience a significant price increase.
According to the researcher, the price of Dogecoin often starts a parabolic move when it crosses the weekly timeframe's yellow line. According to Dima James, in order to validate this parabolic surge, DOGE must conclude the week above $0.18.
The price of Dogecoin soared by more than 18,000% in 2021 and more than 8,000% in 2016 after closing the week over the yellow line, respectively. According to the expert, if factors like acceptance and technological developments continue to play a role in Dogecoin's price, it will experience a similar or even higher growth.
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