Crypto analyst Lebicahlz has predicted that the Dogecoin price is set to witness a major explosion, which would send it to new all-time highs (ATHs). The analyst also provided price targets that Dogecoin could reach as it rallies to new highs.
Dogecoin Price Set To Reach New ATHs
In a TradingView post, Lebicahlz said he believes the Dogecoin price is ready to blast off into new record highs. The analyst warned that the growth may not be as much as previous bull runs. However, he added that Dogecoin does look like a very good coin for 2025, as it has more room to run to the upside.
The analyst’s accompanying chart showed that Dogecoin could rally to as high as $20 by next year. Such a parabolic rally would represent a price gain of around 4.900% from its current level. Based on the chart, this price surge could happen sometime between early January 2025 and July.
Crypto analyst Javon Marks also recently echoed a similar bullish sentiment for the Dogecoin price, stating that historical data shows that the Dogecoin price will experience a surge of over 75% to reach a new ATH. Marks predicted that the foremost meme coin could rally above $3 and reach $15 on a “high end.”
Crypto analysts like Trader Tardigrade have also previously predicted that the Dogecoin price could reach double digits in this market cycle. Trader Tardigrade predicted that Dogecoin could reach as high as $30 if it mirrors the 2021 bull run. In line with this, the analyst advised that investors should start looking to secure profits when Dogecoin hits $10 and possibly continue to do so as the meme coin rallies to $30.
DOGE Investors Are Growing Impatient
In an X post, crypto analyst Ali Martinez revealed that DOGE investors might be growing impatient with the Dogecoin price action. This came as the analyst revealed that the market sentiment for Dogecoin has turned negative. Based on this, the analyst remarked that traders are getting impatient during this ongoing price consolidation.
The Dogecoin price has continued to consolidate around the $0.4 range for about a month now since its parabolic rally between October and November. However, crypto analyst Kevin Capital provided some optimism for those who might be bearish at the moment.
He stated that a dovish Fed outlook for 2025 and the Bank of Japan’s decision not to hike rates could nullify any bearish indicator. In line with this, the analyst remarked that now is not the time to overanalyze charts but instead to focus on macroeconomic factors.
At the time of writing, the Dogecoin price is trading at around $0.38, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
