Dogecoin Appears Poised For Explosive 10,000% Gain – Analyst Trending Global News

Dogecoin (Doge) has shown some upward dynamics in the last day, after a rather bearish trading week. based on Data from CoinMarketCapPremier Memecoin remains an investors’ favorite amid the current bull season, with nearly 90% of its community confident in future price gains. Notably, prominent crypto analyst Ali Martinez has made another bullish prediction on Dogecoin, suggesting the token could potentially register a 10,000% price gain.

Can Dogecoin Repeat Bullish Feat?

one in Recent posts on XMartinez shared a positive analysis of Dogecoin based on historical price data. According to Crypto Pundit, Doge experienced a 10,000% price gain in the last bull cycle in 2021. During this period, the value of Memecoin increased from approximately $0.007 to $0.700 within 98 days.

Looking at the current trading chart of Doge, the cryptocurrency presents a similar situation to when the price rise began in 2021. Martinez’s predictions indicate that if Dogecoin is able to mirror such strong bullish movement, it could achieve a market cap of $14.78 by May 2025.

As previously stated, the bullish sentiment surrounding Dogecoin is currently creating significant potential for this highly favorable scenario. A large part of this positive market sentiment is centered around the possibility of a Dogecoin spot ETF. Among several developments over the past week, leading asset manager Bitwise has filed a proposal for a “Bitwise Dogecoin ETF” with the Corporation of America, US Department of State, Delaware.

Bloomberg analyst Eric Balchunas also confirmed the authenticity of a proposed DOGE spot ETF that is “likely to come soon,” NewsBTC reports. Interestingly, Ali Martinez previously predicted that the Dogecoin Spot ETF could serve as a positive market driver, pushing Doge prices closer to $15 with his most recent price forecast. These projections are based on the nature of spot ETFs that are designed to attract the institutional demand seen with Bitcoin.

doge price overview

At press time, Dogecoin is valued at $0.354 after a 1.72% gain in the past day. On the other hand, its daily trading volume is 30.09% lower, indicating a decrease in investor activity. On larger timeframes, Doge shows a loss of 11.43% on its 7-day chart, but an impressive gain of 13.96% on its monthly chart indicates an overall positive performance in recent weeks.

For short-term traders, a crypto analyst with the username kv_capita_ta believe that Dogecoin may be entering an upward consolidation phase that is likely to last until early February. During this period, the market expert has warned that it is important for market bulls to avoid a price breakout as Doge could potentially go as low as $0.26. Dogecoin, with a market cap of $52.43 billion, holds the title of the largest memecoin and is the seventh-largest cryptocurrency globally.