Market Analyst Issues Timeline for Dogecoin to Crack $3

Market observers share insights on the timeline for Dogecoin (DOGE) to exceed the $1 price range amid the impressive performance.

A recent update on X (formerly Twitter) Crypto Yapper reveals the short-term price forecast for Dogecoin (DOGE). The technical analyst notes the global largest memecoin by market value could rally to a single unit price range.

Crypto Yapper acknowledges the  $1-$3 range is within reach, though in six months placing the timeline around May next year. 

The daily charts show a 3.2% intraday gain for DOGE to exchange hands at 0.3863. The uptick follows yesterday’s attempt by Dogecoin to stage a breakout following a week-long consolidation. 

The pullback follows the 12% surge that elevated the DOGE within the $0.40 range. Nevertheless, the attempt would suffer resistance after hitting $0.4183 to halt further gains. The Bitcoin-induced volatility would plunge the memecoin to the day’s low at $0.3679.

Although the bulls have failed to rekindle momentum and stage the uptrend as witnessed two weeks ago, Yapper notes that DOGE will realize $1-$3 in six months. The analyst notes that if momentum cools, it could take a year-long cycle.

DOGE Path to $3 

The path to the $1 threshold for DOGE from today’s floor value of $0.3679 is rallying 171.81%, which the memecoin community has desired since the 2021 cycle.  CoinGecko data shows the momentum is attainable, considering that on November 5-12, DOGE rallied 156% to leap from $0.17 to $0.436.

Yapper’s prediction for $3 on the upper boundary implies that the Dogecoin price must surge 670%. A chart reflection shows it’s possible, with DOGE rallying by 658% from $0.0575 in October last year to the peak of $0.4359. Its achievement aligns with the year-long timeline that the market analyst forecast to realize a 650% price increase.

The analyst indicates that Dogecoin’s $3 price level will translate to a $440 billion market cap for the meme coin.  Such would amount to a 7.85X from the current $56 billion in the process, surpassing Ethereum’s $400 billion market cap. The leap would push Dogecoin to second if other tokens fail to replicate the gains.

Bitcoin and Ethereum Prediction When DOGE Attains $3 

A separate analysis by Ali Martinez entertains the prediction that several factors facilitated Dogecoin to enter the parabolic run. The market veteran illustrates that the DOGE has retained robust momentum despite facing a pullback after the recent peak. 

Martinez indicates that the memecoin has held its trading territory above $0.38. He predicts DOGE could leverage the territory as its springboard for the subsequent bullish run. 

Martinez highlights that massive whale activity is the primary catalyst for propelling DOGE’s thrust to a new peak. The analyst points out that whales acquired 140M DOGE tokens on November 15 with a value of $56M. 

The large-scale accumulation hits that leading investors are confident of DOGE’s long-term potential. He notes that retail investors have staged a catch-up to Dogecoin’s prospects. 

Martinez’s insights captured in a November 17 update show DOGE popularity is yet to peak. As such, he refuted the skepticism towards the market value constraints and sustainability of the meme-driven hype.  He adds weight to the argument by indicating that the search interest for DOGE is far below the peak, thus yielding substantial growth room. 

The technical analyst anticipates Bitcoin will lead the charge as crypto assets print impressive gains. Yapper echoes this argument, indicating that Bitcoin could hit the $220,000 – $260,000 range. Considering that the BTC price hovers around $98,000, attaining the predicted target suggests 124.5% to $220K and 165% to $260K growth.

Yapper is optimistic that Ethereum could stage a rebound from its current underperformance. Notably, the analyst considers the altcoin king could attain the $12K – $16K range in a 12-month timeline.