Cryptocurrency expert Trader Tardigrade has indicated that now may not be the right time to sell Dogecoin at its existing price point. This statement was made while he suggested a profit-taking zone for the leading meme coin in this market cycle.
Dogecoin Price Peak May Reach Double Digits
In an X post, Trader Tardigrade pointed out that the Dogecoin price at the peak of this bullish run might be within double digits. He mentioned that the profit-taking zone for Dogecoin is situated between $10 and $30 in this cycle, implying that the meme coin could ascend at least to $10 from its current price level.
The cryptocurrency analyst developed these Dogecoin price targets based on the price movements in the 2021 bullish run. He explained that the target is calculated from the lowest point to the previous all-time high (ATH), after which the DOGE doubled this prior ATH as a baseline and then illustrated a triangle, which he pointed out as the profit-taking zone.
In accordance with this, Trader Tardigrade advised market participants to begin securing profits at the $10 mark. His accompanying chart indicated that the Dogecoin price could achieve these double-digit goals sometime next year, although it failed to provide a specific timeline.
It’s important to note that Trader Tardigrade had forecasted that DOGE could hit $30 by March 2025 if it replicates the 2021 bullish run. He also anticipated that the meme coin might surge to $8.7 by August 2025 if it parallels its 2016 bullish run. Analyst Ali Martinez also predicted that Dogecoin could rise as high as $23 in this market cycle.
Nevertheless, cryptocurrency analyst Master Kenobi recently commented that any target surpassing $5 for Dogecoin in this market cycle is overly ambitious. He based this statement on what DOGE’s market capitalization would be should the meme coin exceed targets above $5, which he believes is unattainable in this bullish run.
Cautious Targets To Keep In Mind
In an X post, cryptocurrency analyst Kevin Capital referred to Dogecoin price targets he had previously established for the meme coin in this market cycle. The analyst projected that DOGE could hit $0.93 if it experiences a “solid performance” during this bullish run.
Conversely, he hypothesized that DOGE could surge as high as $2.27 if it achieves a “significant outperformance” and attain $3.80 if it exhibits an “extraordinary performance.” In his recent X post, the cryptocurrency analyst also stated that any price range within these targets is plausible. He noted that he finds between $1.30 and $1.50 to be a notable point on his macro chart.
At the moment of writing, the Dogecoin price is trading around $0.42, having decreased over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
