A pseudonymous cryptocurrency analyst, known as south of the earthyou think Dogemoneta DOGE/USD has the potential to reach $100.
What happened: According to their post on TradingView, the analyst expects the value of the top meme coin to rise, potentially reaching $27 and even a surge to $100, which would represent an increase of over 66,000%.
“The indicative price [is] $27 for next all-time high. Now there is a similar model to that of previous years. Markets are moving faster and over the next few years we may see shorter cycles with rapid gains followed by extended declines,” Southofearth wrote.
Furthermore, the analyst suggests that Dogecoin could potentially peak around October 2024, followed by other cryptocurrencies. If the value of the US dollar collapses, this could fuel even greater growth for Dogecoin, potentially pushing its price above $100.
The analyst said that if it is “hyperbitcoinization”, a scenario in which Bitcoin Bitcoin/USD becomes the dominant form of global finance – occurs due to a prolonged decline in the value of the US dollar, so the price of Dogecoin could rise, perhaps reaching $100 or more.
“If hyperbitcoinization were to occur due to the collapse of the dollar index and the beginning of a ten-year downtrend, the doge would even go beyond $27, perhaps up to $100 and beyond,” the analyst said .
See more: Dogecoin HODLERS Are Beating Shiba Inu With 57% Profits, IntoTheBlock Data Reveals
Because matter: This comes as Dogecoin surged 18% over the past week, reaching $0.20 before settling at $0.15. The meme cryptocurrency currently holds a market capitalization of $21 billion.
Another pseudonymous analyst, smoothit also weighed on Dogecoin’s trajectory, anticipating a near-term climb to around $0.18.
“Yes, DOGE is like the BTC of meme coins, but there’s no way I’m allowing that [other meme coins] enjoy it all. The next stop will be soon,” Bluntz said.
Another pseudonymous crypto analyst was named on Wednesday Caleo hinted at further growth for Dogecoin. In a tweet, Caleo stated, “Just a reminder: $DOGE has a lot more in the tank.” At the time this news was reported, Dogecoin was trading at $0.19, with a market capitalization of $25.9 billion.
Kaleo chart analysis suggests that Dogecoin’s current trajectory suggests a potential rise to $0.67.
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