Analysts and investors alike have Dogecoin under the lens, especially due to recent predictions indicating a possible price spike. Market analyst Javier Santini has made headlines with his prediction that Dogecoin could hit $4 within a week after an ongoing correction phase.
The Analyst's Acceptance
Javier Santini, founder of Elemento Cripto, bases his forecast on how prices have changed since Dogecoin's inception in 2017. He says that a drop below the highs is likely to last for a month or more before the bottom starts to rise again.
All media cool (under ATH) from the beginning of the $ DOGE +24th is only 1 month long. Truth from 2017.
The next and first hyperbolic push will start next week and should reach $4 in a week or less. $XRP to $25.
The news should be very unexpected. pic.twitter.com/1Y2HpinqrH
— Javier Santini (@javierosantini) December 21, 2024
After hitting a high of $0.48 following the US presidential election results in early December, Dogecoin currently being corrected. It has since fallen 35%, but according to Santini, this fall is a normal part of the market cycle.
Santini claims that the historical data for Dogecoin shows recurring trends through corrections. Based on the Dogecoin weekly chart, he provided insights that showed that each medium-term period has lasted about a month.
He believes that Dogecoin will have a massive rally after this correction, which he believes will end soon, and may hit $4 in as little as a week. Compared to its current price of about $0.3253, this would represent an impressive growth of over 1,168%.
Market awareness and general patterns
Dogecoin excites and excites people. Some investors are wary of cryptocurrencies because of their volatility, but others want to make a profit. While the correction has attracted attention, analysts like Santini say that such movements are normal and often precede large rallies.
Another expert @Degengambleh expects Dogecoin to reach $4.20, supporting Santini's optimistic estimate. He expects another rise as the 1,000-day rally pattern shows substantial fundamental support for the digital currency.
Multiple variables
Whether Dogecoin achieved these lofty goals The future will depend on a number of variables, including market sentiment and broader developments within the cryptocurrency space. Very soon, we may see yet another chapter in this remarkable history of Dogecoin – a rapid rise after a period of consolidation – if Santini's theory is correct.
Even if the Dogecoin price forecast is very unclear, there is a feeling of optimism that one can get from the previous trends and how the market is behaving today. With this, investors are challenged to be aware and really do deep research along the way while riding this dynamic financial landscape.
Featured image from Pexels, chart from TradingView
