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The expectations for the Dogecoin price to hit as high as $1 this cycle remain high, especially as DOGE has managed to maintain its position as the leading meme coin in the space. This continues despite the meme coin being unable to reclaim its $0.7 all-time high from 2021. Nevertheless, it has not deterred the bulls from predicting that $1 is inevitable this cycle, as many analysts have even predicted that it will jump higher than this by the time the bull run is over.
Why Dogecoin Can Rise To $10
Crypto analyst XForceGlobal recently published an analysis showing the Dogecoin price path and where the meme coin could be headed from here. Unlike some who believe that the bull run is over for the meme coin, XForceGlobal predicts that it is destined to rise higher from its current level.
The analysis came with both a conservative point of view and a much more ambitious forecast that could see the Dogecoin price hit double-digits. Going with the more conservative prediction, the crypto analyst predicts that Dogecoin could see an initial rise to the $0.65 level, followed by a decline, before rising above the $1 level. Thus, in this scenario, the crypto analyst believes that Dogecoin has the opportunity to rally at 2x-3x before the wave is over.
Then moving on to the more ambitious target, the analyst shows an at least 5x surge that will first push its price above the coveted $1 level. However, it will not end there. In a total of five waves, the Elliot Wave certified analyst puts the Dogecoin price above $10, expecting it to reach as high as $16 if this plays out as expected.
As to why Dogecoin could see such an insane rally, the crypto analyst explains that DOGE has proven to be a resilient legacy coin. In a market where there are thousands of altcoins, XForceGlobal explains that while the altcoins will rise, finding those like Dogecoin that have the opportunity to rise higher is the most important.
Analysts Are Bullish On DOGE
Another crypto analyst who has predicted that the Dogecoin price could cross the $10 level is DOGECAPITAL. According to a report from NewsBTC, the analyst believes that if the DOGE price does follow the previous cycles using the Fibonacci tool, then the meme coin is destined to cross $10.
Additionally, crypto analyst Dima James Potts has been one of the most vocal voices for Dogecoin price reaching the $10 level. This call has been made by the analyst months ago, and like DOGECAPITAL, he points to the historical performance of Dogecoin to forecast why its price could beat $10 this time.
Featured image from Dall.E, chart from TradingView.com
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