Dogecoin Price Prediction Following TradingView Trader’s Analysis – $12 DOGE Possible?

Dogecoin Price Prediction Following TradingView Trader's Analysis – $12 DOGE Possible? / Source: Cryptonews

As the Dogecoin (DOGE) price consolidates near $0.16 and close to its 21DMA, investors are questioning whether a pump to $12 could be on the cards after a TradingView trader put forth a compelling bullish price prediction.

TradingView user Crypto_Kinfolk noted that, looking at Dogecoin’s price history, there have been two previous major price run-ups.

DOGE saw “over 21,000% gains between 2015 and 2017”, before “touching over 50,000% gains during the 2020/2021 crypto bull market”.

“Each cycle DOGE has nearly mimicked its prior cycles bear market, accumulation period and eventually, a mind-melting bull run”.

“We have completed the bear market and are currently breaking out of accumulation,” Crypto_Kinfolk noted.

Analysis showing that the Dogecoin price could reach $12 in the upcoming bull run. Source: TradingView

His personal targets are for the Dogecoin price to reach $4.20, $10.10 and $12.

To conclude, Crypto_Kinfolk noted that this is a real possibility amid the possibility that Elon Musk adds DOGE as the main currency for the X platform.

Dogecoin Price Prediction – Where Next for DOGE?

The Dogecoin (DOGE) price is currently sat around the mid-point of its $0.12-22 range of the past three months.

It remains locked close to both of its 21 and 50DMAs, suggesting a lack of bullish or bearish momentum.

But with Bitcoin nearing yearly highs and other cryptos also performing well recently, DOGE could soon play catch up.

As major cryptos like Bitcoin eye a retest of yearly highs, the Dogecoin price could soon catch up. TradingView

If DOGE was to hit $12, that would mean gains of around 75x from current levels.

As a result, DOGE could easily be one of the meme coins to buy now.

However, given Dogecoin’s already bloated market cap of $23.3 billion, some might be sceptical that the coin can 75x.

That would involve Dogecoin reaching a market cap of around $1.75 trillion, over $250 billion more than Bitcoin’s right now.

Traders looking for 50-100x gains would be better of investing in new memes before they become popular.

This is a very risky strategy, as there is no guarantee a new coin will gain traction.

But one new meme coin that analysts at Cryptonews.com think has a lot of potential is PlayDoge (PLAY) .

The meme coin is packed with play-to-earn (P2E) utility and powers a fun, mobile-based game.

The crypto presale has already raised close to $2.7 million despite only launching a few weeks ago.

At $0.005, PLAY is launching with a modest market cap of under $50 million.

Depending on how its game gains traction, PLAY could be one of the best meme coin plays this cycle.

Visit Playdoge Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.