Crypto Analyst Kevin (formerly OG Yomi) presented a bullish case for Dogecoin (DOGE). Based on their analysis, the leading meme coin could replicate its 2021 Bull Run when it achieved a price gain of 18,000%.
Dogecoin Could Soon Replicate Its 2021 Bull Run
Kevin suggested in an X (old Twitter) publish that Dogecoin could soon replicate its 2021 Race when it saw a price gain of 18,000%. This came after his statement that DOGE is two to three weeks away from reaching its first weekly golden cross in four years. The analyst noted that the meme coin has gone “parabolic” for six consecutive months and had an 18,000% price surge the last time this happened in 2021.
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Crypto analysts like Javon Marks have also raised the possibility of Dogecoin replicating its 2021 run and even surpassing it at different points in this market cycle. Marks foreseen that the leading meme coin could enjoy a price surge of over 21,000% in this bull run and rise to $17. This prediction is based on Dogecoin’s historical breakout trend, in which the meme coin has seen more significant price rallies in every subsequent bull run.
More recently, Marcos stated that Dogecoin’s rise to $0.6533 is only a matter of time and that the meme coin could enjoy a 90% price rally to $1.25. While the analyst’s $17 price prediction is undoubtedly ambitious, as it would give Dogecoin a market cap of around $2.4 trillion, the $1 price target seems more achievable, and this is a price level that some other analysts, such as Altcoin Sherpa, have targeted. agreed that DOGE can achieve.
Meanwhile, investors are hoping that Dogecoin will successfully achieve the Golden Cross and that history will repeat itself. DOGE badly needs such a move, considering how the leading meme coin has underperformed compared to other major meme coins such as Pepe (PEPE)Floki (FLOKI) and Dogwifhat (WIF).
One last chance to buy DOGE
Crypto Analyst The Cryptomist recently suggested that investors will have one last opportunity to buy Dogecoin at a discount before it makes its parabolic move. Based on a rising wedge pattern Highlighted on the Dogecoin chart, it predicts that the leading meme coin will further fall to $0.08 and possibly $0.05.
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![Can Dogecoin replicate its 18,000% run in 2021? Here’s what the chart says 1 Dogecoin2](https://thegurumedia.com/wp-content/uploads/2024/07/Dogecoin-2-3.png)
However, she is bullish on Dogecoin in the long term, saying the leading meme coin has a “great chance” of hitting $1 this year. Crypto Kaleo Crypto Analyst also recently foreseen Dogecoin could drop to $0.08 before it reaches $1.
![Can Dogecoin replicate its 18,000% run in 2021? Here’s what the chart says 2 Dogecoin3](https://thegurumedia.com/wp-content/uploads/2024/07/Dogecoin-3-1.png)
At the time of writing, Dogecoin was trading around $0.129, up over 4% in the past 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com