Dogecoin Bullish Outlook: Analyst Predicts 4x Surge, Eyeing New All-Time High

As the meme coin mania persists, popular cryptocurrency expert and enthusiast Javon Marks, in a bullish outlook for Dogecoin (DOGE), has predicted the crypto asset to undergo a 4x surge, projecting it to reach a new all-time high and potentially climbing higher.

Impending 4x Spike For Dogecoin To New All-Time High

This optimistic forecast, which indicates tremendous growth potential for Dogecoin in the upcoming months, coincides with a more general upward trend in the cryptocurrency sector. The crypto analyst attributes the positive outlook for the popular meme coin to the pattern of previous breakouts and runs.

Back in April, Javon Marks shared an intriguing prediction for DOGE that it could witness a massive rally to the pivotal $12 price mark. “A $12 DOGE (Dogecoin) could be well on its way and the process may have already begun,” he stated.

A month later, the crypto expert reiterated the bold forecast, noting that the trend is still present. According to Javon Marks, Dogecoin was held in a broken-out state once more, and these runs, the expert confirmed, have gotten bigger one after the other, due to the pattern of previous breakouts and runs. This indicates that the next run, which might already be in its early phases, might be bigger than the last run, where DOGE saw a move of more than 20,000%.

The post read:

DOGE (Dogecoin) holds in a broken-out state once again and based on the trend of prior breakouts and runs, these runs have consecutively gotten larger, meaning the upcoming run, which may be in the early stages now could be larger than the previous run, which was an over 20,000% move.

As a result, Javon Marks anticipates another huge run from the asset’s price at that time that might trigger a move of over 7,500% to the $12 price target, if not higher. He further highlighted that possibly the trend might be at the beginning, suggesting that the coin could be poised for constant gains from this point.

And now, the analyst asserted that the trend shows DOGE could experience a  4x spike to new all-time highs and potentially much higher. Given the momentum of this trend, Javon Marks now believes a $10 mark might be forthcoming for DOGE, maybe even toward the $12 level.

DOGE Seeing Positive Movement

Presently, the biggest meme coin, Dogecoin, is experiencing a positive movement along with other well-known cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC). 

After falling as low as $0.155 during the start of the month, DOGE has experienced a rebound to the $0.16 threshold. Given the current momentum in the meme coin market, DOGE may be in a position to attract more gains in the coming months.

At the time of writing, DOGE had a market capitalization of over $23.64 billion, a 24-hour trading volume of over $684 million, and a price increase of 2.82% in the past week, trading at over $0.1635. Its market cap in the past day has increased by 0.62%, while its trading volume is seeing a negative drop of over 19%.

Featured image from iStock, chart from Tradingview.com