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As Long As This Level Holds, Dogecoin Can Reach $10: Analyst

Elendu Benedict
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As Long As This Level Holds, Dogecoin Can Reach $10: Analyst

The proposed Dogecoin uptrend remains on track as a prominent analyst highlights a crucial level the asset must hold to reach greater heights.

The Dogecoin moonshot calls keep pouring in amid long-term bullish sentiments and historic cyclical performance. Most recently, seasoned market analyst Ali Martinez suggested that the meme coin’s price upsurge to double digits remains on course.

However, the prominent market analyst shared a crucial price level Dogecoin needs to hold to keep the upsurge prospect alive. He disclosed this in his recent analysis, in which he also highlighted the asset’s price action depending on its reaction around the make-or-break level.

Dogecoin Nears Crucial Price Level

After a strong rebound on Monday, the largest meme coin by market cap has posted three consecutive downtrend days. The consolidation has seen Dogecoin correct 6%, taking its month-to-date retracement to 23%.

Amid this performance, Martinez speculated that the $0.19 price mark is a crucial support level Dogecoin should avoid falling below. 

An accompanying chart shows that the crucial level lies at the lower boundary of its multi-year ascending channel, a price structure Dogecoin has consolidated around since 2014. Nonetheless, Martinez expects Dogecoin to hold the price mark, riding on the building momentum around the meme coin’s ecosystem to resume a parabolic rally to $10.

Dogecoin to $10

Price Levels Following Dogecoin’s Reaction

Nonetheless, Martinez highlighted levels Dogecoin could reach depending on its price action around the crucial level. According to the accompanying chart, Dogecoin could either surge considerably to unprecedented highs or capitulate to deeper lows.

If the level holds, Dogecoin will target the tip of the ascending channel at the 1.414 Fibonacci extension at $10.04. Meanwhile, the meme coin could surge further to the 1.618 Fib. level at $36.32.

Other Dogecoin to $10 Analysis

Meanwhile, Martinez is not the only commentator predicting an over 3,900% price surge to $10. Analyst Dima James Potts also expects the meme coin to reach the price mark this year, citing historic cyclical price action.

Furthermore, X’s AI chatbox Grok suggested that Dogecoin could hit $10 but with a longer timeframe. The interactive tool predicted the surge to the ambitious price level by 2040.

In the meantime, Dogecoin trades at $0.2486, almost unchanged from the past day.

Former US Senate Candidate Says SEC Lawyer Jorge Tenreiro Deserves Recent Demotion and Humiliation 

Lele Jima
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Former US Senate Candidate Says SEC Lawyer Jorge Tenreiro Deserves Recent Demotion and Humiliation 

Following SEC lawyer Jorge Tenreiro’s transfer to the commission’s IT department, attorney John Deaton has criticized him, stating that he deserves the demotion and humiliation.

Amid the SEC’s crypto policy shift, the commission reassigned over 50 enforcement lawyers to different departments. Tenreiro was among the senior lawyers moved to the SEC’s Microdata Refinement department. Notably, he led the commission’s litigation against crypto businesses under the past administration.

Deaton Says Tenreiro Deserves the Demotion 

His transfer elicited reactions among crypto community members. Deaton, a pro-XRP lawyer and former U.S. Senate Candidate, asserted that he deserves the demotion and humiliation. 

According to Deaton, the demotion is the SEC’s polite way of telling Tenreiro to leave the commission if he disagrees with the transfer. The pro-XRP lawyer clarified that his criticism stems from Tenreiro’s conduct in SEC’s high-profile cases. 

Attorney Deaton emphasized that lawyers like Tenreiro prioritize winning at all costs, as observed in the commission’s lawsuits against Ripple and DEBT Box. 

“He would say anything, no matter how untrue, just to win an argument or advance his litigation goals,” Deaton recounted.

Judges Criticize SEC Lawyers Led By Tenreiro 

For context, a federal judge sanctioned the SEC lawyers in the DEBT Box case for using false claims to obtain a temporary restraining order (TRO) against the company. 

Meanwhile, in the Ripple case, Judge Sarah Netburn admonished the SEC lawyers for lacking faithful allegiance to the law. She indicated that the lawyers would do anything to advance its litigation goals. 

Notably, Judge Netburn did not directly mention any name during the criticism. However, Deaton claimed she was referring to Tenreiro, saying he was the commission’s lead attorney at the time. 

“Lawyers like Tenreiro have a win-at-all-costs attitude, with no commitment to fairness, truth, or justice,” Deaton remarked. 

Misuse of Government Power 

Furthermore, attorney Deaton accused Tenreiro of misusing government power to intimidate litigants and entrepreneurs. Having been a federal prosecutor, Deaton emphasized that a lawyer representing the government should seek justice rather than pursue personal ambition. 

Attorney Deaton has been a vocal critic of the SEC, opposing the commission’s enforcement actions against crypto businesses and advocating for regulatory clarity. Meanwhile, the SEC is now taking steps to provide much-needed clarity under the new leadership. 

In particular, the SEC is undergoing a policy shift as it moves to reduce its enforcement-heavy approach. This effort includes downsizing the crypto enforcement unit and launching a crypto task force.

The unit, headed by pro-crypto SEC Commissioner Hester Peirce, is developing a transparent regulatory environment for the industry.

Over $3B in Bitcoin, Ethereum Options Expired Today: What You Need to Know

Okoya David
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Over $3B in Bitcoin, Ethereum Options Expired Today: What You Need to Know

Amid recent uncertainty, a significant options expiry in the Bitcoin and Ethereum derivatives market offers insight into the outlook of market participants.

Crypto markets have been subdued by uncertainty this week as fears of a looming trade war have left most market speculators on the fence.

Amid the uncertainty, a significant options expiry has offered further insight into the outlook of market participants.

Mixed Bag

Over $3 billion in Bitcoin and Ethereum options have expired on Friday, February 7. Specifically, 26,000 BTC options worth $2.54 billion expired with a put-call ratio of 0.58 and a max pain point of $99,500.

On the other hand, 203,000 ETH options worth $560 million expired with a put-call ratio of 0.46 and a max pain point of $2,950.

Put options give traders a right to sell an asset at an agreed price or before a fixed date, while call options give the holder a right to buy. The ratio of the amount of these two contracts within a given period often offers insight into market sentiment.

The max pain point is the price at which most contracts expire worthless, causing the most financial losses for traders.

Notably, market makers tend to push prices to these levels near options expiries to maximize profit. It can also reflect where they expect options to expire.

While the expiry of Bitcoin and Ethereum options with put-call ratios below 0.7 suggests that most traders are still betting on higher prices, the max pain point, especially compared to last week, presents a more nuanced picture.

Last week, the max pain point for Bitcoin was $98,000. While the increase to $99,500 this week suggests improved optimism, it is mild at best. 

Ethereum, meanwhile, had a max pain point of $3,300 last week. As such, the drop to $2,950 this week suggests weaker market sentiment.

Meanwhile, options trading kit provider Greeks.live has warned that put options are growing in volume, suggesting a growth in bearish sentiment.

U.S. Economy in Focus

As highlighted by Greeks.live, traders and investors will likely look to the January 2025 U.S. jobs data slated for release later today to adjust their positions. This includes the unemployment report and non-farm payroll.

An unexpected spike in unemployment and a similar drop in jobs could reignite hopes of faster rate cuts, which could see more capital flow back into risk markets like crypto.

On the other hand, better-than-expected numbers could only reinforce risk aversion sparked by recent trade war fears.

Ahead of these releases, Bitcoin trades just over the $97,100 price point, while Ethereum exchanges hands for about $2,700.

Here are Projected Timelines for XRP to Hit $10, $50, $100, $500 After Recent Crash

Sam Wisdom Raphael
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Here are Projected Timelines for XRP to Hit $10, $50, $100, $500 After Recent Crash

Some entities believe XRP is capable of claiming two to three-digit figure prices, with recent projections establishing hypothetical timelines.

Notably, XRP recently dropped below $3 amid a broader market decline that began in February. The asset fell to a yearly low of $1.76 on Feb. 3 before recovering above $2. 

However, it remains below $3, raising questions about its future price trajectory. Despite the uncertainty, most analysts see the drop as an opportunity to accumulate XRP below $3, projecting a run to greater heights once a recovery ensues.

These greater heights have translated to ambitious targets. For context, XRP has long been the subject of audacious price predictions, with some believing it could reach $10, $50, $100, or even $500. Nonetheless, the timelines for these projections remain uncertain, so we sought help from external entities.

ChatGPT XRP Price Projections

According to AI chatbot ChatGPT, XRP could reach $10 between late 2025 and early 2026. It noted that several factors could drive this growth, including a renewed crypto bull market, increased adoption of Ripple’s ODL (now Ripple Payments), and a positive outcome in Ripple’s legal case against the SEC. 

ChatGPT also called attention to the potential role of institutional investors in pushing XRP’s value higher. It bears mentioning that XRP has been the subject of multiple ETF filings, which, if approved, could attract institutional capital.

XRP Price Prediction ChatGPT
XRP Price Prediction | ChatGPT

Meanwhile, for XRP to hit $50, ChatGPT estimates a timeline between 2028 and 2030. According to the chatbot, this would require XRP to become a key player in cross-border payments, remittances, and banking partnerships. The crypto market would also need to surpass $10 trillion, with XRP dominance reaching higher levels. 

Looking further ahead, ChatGPT predicts XRP could hit $100 between 2032 and 2035. Notably, such a scenario assumes XRP will serve as a global liquidity bridge asset, reducing reliance on traditional banking systems like SWIFT. 

Interestingly, ChatGPT views XRP reaching $500 as an extreme scenario that could occur in 2040 or later. To the chatbot, this event would require XRP to become the dominant global settlement system, with banks and corporations widely using it for transactions. 

Gemini XRP Price Predictions

Meanwhile, Google’s Gemini is more conservative, suggesting XRP might not reach $10 until 2028. In this scenario, financial institutions would need to adopt XRP for cross-border transactions, and regulators would need to provide clearer guidelines.  

Further, for XRP to hit $50, Gemini sets a timeline of 2035. This prediction assumes that XRP will be widely used in decentralized finance (DeFi), micropayments, and Internet of Things (IoT) transactions. 

XRP Price Prediction Google Gemini
XRP Price Prediction | Google Gemini

Gemini also believes XRP could reach $100 by 2042, assuming it becomes a reserve asset or is used by central banks for digital currencies. In this scenario, XRP would facilitate trillions of dollars in daily transactions.

As for XRP hitting $500, Gemini sees this as highly speculative, predicting it may not happen until 2050. The chatbot says this would require XRP to replace traditional banking and serve as the backbone of a decentralized global financial system. 

Changelly XRP Price Predictions

Notably, Changelly’s analysts provide the most cautious price projections. Particularly, they predict XRP will reach $10 by February 2032, seven years from now. This estimate is much more conservative than those from ChatGPT and Gemini.  

However, for XRP to hit $50, Changelly sets a target of February 2040, 15 years from now. Interestingly, they believe XRP could double its price to $100 just two months later, by April 2040. This suggests they anticipate rapid growth once XRP crosses the $50 mark.  

XRP Price Prediction Changelly
XRP Price Prediction | Changelly

Unlike ChatGPT and Gemini, Changelly does not provide a forecast for XRP reaching $500. For context, at press time, XRP changes hands at $2.71. From this level, the altcoin would need to a 269% increase to hit $10, a 1,745% spike to reach $50, a 3,590% rise to claim $100, and an 18,350% surge for $500.

Trump-backed DeFi Platform Eyes Crypto Asset Reserve

Albert Brown
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Trump-backed DeFi Platform Eyes Crypto Asset Reserve

World Liberty Financial, a decentralized finance (DeFi) initiative linked to Donald Trump, is evaluating establishing a strategic digital asset reserve. 

Co-founder Chase Herro disclosed this initiative during the Ondo Finance Summit in New York. The revelation follows the platform’s recent acquisition of ONDO tokens. 

However, Herro did not specify the intended purpose of the reserve. This development aligns with Trump’s recent executive directive, which calls for assessing the feasibility of creating a digital asset stockpile.

Significant Token Acquisitions

World Liberty Financial has ramped up its token purchases, including a $470,000 ONDO acquisition on the same day as the Ondo Finance Summit. Moreover, the platform recently obtained tens of millions of dollars in Ethereum following a cryptocurrency market downturn linked to temporary U.S. tariff measures on Mexico and Canada.

While World Liberty Financial is branded as a DeFi lending platform, it has yet to launch operational services and remains largely focused on acquiring digital assets.

At the Jazz Lincoln Center venue, Donald Trump Jr. underscored the Trump administration’s dedication to the digital asset industry. He interacted with attendees eager to learn about World Liberty Financial’s direction.

He was introduced by the project’s co-founders, including Zak Folkman and Zach Witkoff. Notably, Witkoff is the son of Steve Witkoff, a longtime Trump associate recently appointed as the administration’s Middle East envoy.

Crypto Regulation and Governmental Engagement

Regulatory discussions at the Ondo Finance Summit featured prominent policymakers and financial experts who shared insights into the evolving landscape of digital assets. House Financial Services Committee Chair Patrick McHenry, acting CFTC Chair Caroline Pham, and former Chair J. Christopher Giancarlo were among the speakers.

Conversations addressed tokenization, legislative developments, and the Trump administration’s approach to cryptocurrency policies. Giancarlo pointed out the administration’s shift from overturning previous regulations to implementing new frameworks.

Meanwhile, David Sacks, Trump’s lead on crypto policy, previously elaborated on the administration’s focus areas. They include Bitcoin’s role as a store of value, blockchain-driven innovation, and stablecoins’ potential to bolster the U.S. dollar’s demand.

He also reaffirmed that a working group, established under Trump’s directive, is analyzing the viability of a Bitcoin reserve or digital asset stockpile. Additionally, congressional leaders announced the formation of a crypto-focused working group within the Senate and House, initially prioritizing stablecoin regulation.

US SEC Acknowledges Grayscale Solana ETF 19b-4 Filing: Here’s the Deadline for Approval

Elendu Benedict
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US SEC Acknowledges Grayscale Solana ETF 19b-4 Filing: Here’s the Deadline for Approval

The process of approving a Solana ETF has regained momentum after the US SEC acknowledged a filing from NYSE Arca on behalf of Grayscale.

A few months back, the US Securities and Exchange Commission (SEC) asked CBOE exchange to withdraw its Solana spot ETF filing on behalf of asset manager VanEck. The regulator cited classification concerns as the high-caliber cryptocurrency is one of the assets it considers a security.

However, the process took an encouraging turn on Thursday, driving the approval process back on track. The US SEC acknowledged the amended 19b-4 Grayscale Solana ETF filing from stock exchange NYSE Arca, a notable step in the approval proceedings.

A Step in the Right Direction

Bloomberg’s ETF analyst James Seyffart insisted the latest development is noteworthy considering the rapid change of events. The significant step came a few months after the SEC previously stated it would not consider the application for a similar Solana product.

Under Gary Gensler, the Wall Street securities watchdog expressed skepticism around a Solana ETF. It noted that filed applications incorrectly classified Solana as a commodity share, a plight currently under contention.

Furthermore, the SEC told applicants in December that it would no longer consider unapproved ETF filings under the current administration. As a result, it responded negatively to the decision in January.

Meanwhile, fellow ETF analyst Eric Balchunas also acknowledged the notable step in the approval proceeding. He stated that this is the first time an ETF filing tracking an asset previously classified as a security is being considered for approval, citing a market shift to new territory under the new SEC leadership.

It is worth noting that the SEC has asked for public comment on NYSE Arca’s Grayscale Solana Trust filing and has given a 21-day window before initiating the next phase. Notably, the SEC has a final deadline of October 11 to decide on the filing.

Strings of Filing Amid Easing Regulation

The recent development followed a string of ETF applications from several asset managers and 19b-4 filings from exchanges. The CBOE also recently submitted similar 19b-4 filings for XRP ETFs on behalf of Canary, 21Shares, Bitwise, and WisdomTree.

Interestingly, this flurry of applications came following the easing regulatory environment in the US. Analysts expect increased ETF approval under the new government as crypto adoption intensifies.

Germany’s Second-Led Party AfD Seeks Deregulation of Bitcoin Trading Ahead of Federal Election

Lele Jima
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Germany’s Second-Led Party AfD Seeks Deregulation of Bitcoin Trading Ahead of Federal Election

Germany’s upcoming federal election could have significant implications for the country’s finance sector, Bitcoin-related activities, and wealth taxation. 

Ahead of the election slated for February 23, 2025, Reuters outlined some financial-related proposals from the parties leading in the poll. 

AfD Seeks Deregulation for Crypto and Bitcoin Trading  

In particular, the far-right Alternative for Germany (AfD) party, currently ranked second in the polls, made several proposals relating to crypto assets. 

The party calls for broad deregulation of Bitcoin, crypto trading, and wallets, potentially driving adoption and innovation in the space. 

German regulators have been cautious about crypto, establishing several laws, including the German Banking Act, to ensure financial stability and protect investors. 

However, AfD calls for deregulating crypto to allow businesses and investors to use and trade the asset. The AfD party opposes the creation of a digital euro, emphasizing that the constitution enshrines cash as the official legal tender. 

Other proposals by the AfD include backing the new Deutsche Mark with gold, seeking the country’s exit from the eurozone, and canceling wealth and inheritance taxes. 

Germany Upcoming Election 

Germany scheduled its federal election for February 23, 2025, following the collapse of the governing coalition during the 2024 German government crisis. 

Initially slated for September 28, 2025, the election was brought forward to February to address the political instability. During the election, voters will elect a total of 630 members of the Bundestag, the country’s federal parliament, across different parties, with 316 seats required for a majority. 

Greens Party Wants to Combat Crypto Misuse 

Meanwhile, the AfD is not the only party that has made a proposal relating to crypto. For instance, the Greens Party proposes the creation of a nationwide service center that will focus on combating crypto-related financial crimes. 

This center will help gather the necessary expertise and resources to help Germany mitigate the misuse of cryptocurrencies for illicit activities, such as tax evasion, money laundering, and other fraudulent activities. 

Germany’s Growing Interest in Crypto 

Meanwhile, Germany ranks among the countries with a growing demand for crypto assets. Notably, financial institutions are making moves to grant their customers access to the nascent asset by offering related services. 

Last year, Germany’s second-largest bank by asset size, DZ Bank, revealed plans to launch a crypto trading pilot program for retail clients. The move came after the country’s largest bank, Deutsche Bank, launched a crypto custody service, allowing its clients to store their digital assets, including Bitcoin. 

Ripple CEO Shows Time is Ticking as XRP ETF Filings Move Forward with Multiple 19b-4 Submissions

Abdulkarim Abdulwahab
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Ripple CEO Shows Time is Ticking as XRP ETF Filings Move Forward with Multiple 19b-4 Submissions

Asset managers seeking XRP exchange-traded funds (ETFs) are making progress with their applications, bringing the products a step closer to actualization.

On Thursday, Cboe BZX Exchange officially filed the crucial 19b-4 forms with the SEC on behalf of Bitwise Investments, Canary Capital, WisdomTree, and 21Shares, seeking approval for their proposed XRP ETFs.

This filing marks the next stage in the regulatory process following the initial S-1 filings by the issuers.

Image
Cboe BZX Exchange SEC filings for XRP ETFs

Details about the 19b-4 forms for XRP ETFs

Notably, the 19b-4 forms are essential in requesting permission from the U.S. SEC to list and trade the XRP ETFs on the Cboe BZX Exchange.

This move follows an earlier indication from FOX Business News correspondent Eleanor Terrett, who disclosed that there would be more developments regarding pending XRP ETF applications this week. Indeed, her prediction is unfolding as expected, with the latest Form 19b-4 for XRP ETFs.

In her comments on the latest update, Terrett noted that the submission of these forms does not guarantee approval. Specifically, once the SEC acknowledges receipt of these filings, it will have a 240-day window to either approve or deny the ETFs.

This filing follows the SEC’s recent acknowledgment of similar filings for Litecoin (LTC) ETFs from Canary Funds and Grayscale. This has led to speculation that the regulatory body may also respond soon to the XRP filings.

Ripple CEO Reacts, Says Time is Ticking

The latest update concerning XRP ETFs has sparked positive commentary from members of the XRP community, including Ripple CEO Brad Garlinghouse, who took to X to acknowledge the move. His reaction suggests the countdown for XRP ETF launch has begun.

Other prominent voices, like Digital Asset Investor, used the moment to remind the broader crypto community not to overlook XRP or miss out on its promising potential.

“Your grandkids’ grandkids will be talking about how you saw where XRP was going when everyone said you were crazy,” he said.

Notably, the outcome of this filing could have significant implications for the future of XRP. In particular, the approval of an XRP ETF would provide traditional investors with easier access to the cryptocurrency.

Santiment Raises Concern About Shiba Inu Top 10 Wallets Holding 61% of Supply, But There’s More to the Story

Sam Wisdom Raphael
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Santiment Raises Concern About Shiba Inu Top 10 Wallets Holding 61% of Supply, But There’s More to the Story

Blockchain analytics firm Santiment recently raised concerns about the Shiba Inu token distribution, but there is more to the story.

The firm highlighted that the top 10 largest wallets hold a staggering 61.3% of SHIB’s total supply. This level of concentration can increase price volatility since a few large holders can influence the market by buying or selling significant amounts. 

However, the situation is not as alarming as it first appears. A closer look into these wallets reveals an important detail that Santiment failed to mention.  

Santiment: High Concentration Signals Risk  

Notably, Santiment rightly pointed out that when a small number of wallets control a large portion of a crypto asset’s supply, market risks increase. If these wallets decide to sell, it could cause sharp price drops, hurting smaller investors. 

Conversely, the analytics platform noted that if they continue holding or accumulating, it could signal confidence in the project. Regardless, Santiment stressed that the higher the concentration, the more volatile the asset can become.  

Specifically, the firm compared SHIB’s distribution to other major crypto assets. For instance, Ethereum’s top 10 wallets hold 46.1% of its supply, while Chainlink and Toncoin only have 33.1% and 32.8%, respectively. 

Shiba Inu, Ethereum, Chainlink and Toncoin Top 10 Wallets Holdings Santiment
Shiba Inu, Ethereum, Chainlink and Toncoin Top 10 Wallets Holdings | Santiment

According to Santiment, these lower concentrations are healthier because they prevent a single entity from having too much control over price movements. A more decentralized supply structure is preferable, as it builds investor trust and reduces the risk of manipulation.  

Who Really Owns These Shiba Inu Wallets?  

While the numbers suggest that a few whales dominate SHIB’s supply, the reality is different. Most of the top 10 wallets do not belong to individual investors but rather to exchanges and the burn wallet.  

The largest SHIB wallet holds 410.4 trillion tokens, accounting for 41% of the total supply. However, this is the Shiba Inu burn wallet, meaning these tokens are permanently removed from circulation. They will never come back into the market, making them irrelevant to price volatility concerns.  

The second-largest wallet holds 44.8 trillion SHIB, but this wallet belongs to South Korean crypto exchange Upbit. Since the exchange holds these assets on behalf of its users, this does not indicate control by a single entity.  

The pattern continues with the next wallets on the list. The third-largest wallet, containing 44.19 trillion SHIB, belongs to Binance. The fourth wallet, with 39.27 trillion SHIB, is a property of leading trading platform Robinhood. 

Crypto.com owns the fifth-largest wallet, which holds 33.29 trillion SHIB. The remaining five wallets are also tied to exchanges, including Binance, Robinhood, Bithumb, OKX, and BitGo.  

This means that instead of individual whales controlling these holdings, most of the SHIB in these top wallets is actually spread across millions of users who trade on these platforms.  

Interestingly, the first wallets that appear to belong to individual holders rank between 13th and 18th. Each of these wallets contains 5 trillion SHIB, and they acquired the tokens between March and November 2021. Their owner remains unknown, and none of these wallets have moved their funds since 2021. 

Dogecoin Price Forecast: Analyst Predicts TimeLine for Dogecoin To Reach $440

Sam Wisdom Raphael
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Dogecoin Price Forecast: Analyst Predicts TimeLine for Dogecoin To Reach $440

Amid bullish Dogecoin price predictions, a notable market analyst has projected when the meme coin will likely reach its cycle top.

The recent disclosure comes amid a turbulent phase in the broader cryptocurrency market, with Dogecoin (DOGE) suffering massive losses. Down 32% since Jan. 20, DOGE has witnessed two consecutive weekly losing candles, with the bears on the verge of triggering a third one this week.

Despite the bearish price action, analysts like Dima Potts believe a bullish phase will emerge. In his latest report, Potts tried to identify the exact time Dogecoin price would reach its top for this cycle, forecasting an ambitious price target for when this bullish phase emerges.

Dogecoin Following a 4-Year Cycle

To drive home his point, the analyst pointed out a recurrent pattern in Dogecoin’s price history. According to his analysis, Dogecoin has followed a predictable cycle over the years, with peaks occurring roughly every four years.  

The first major peak happened 1,442 days after the previous high, marking an extraordinary 21,821% price increase from the cycle low to the peak. For context, this peak price was the $0.0187 top Dogecoin claimed in January 2018. 

Data from his chart shows that the second cycle mirrored this pattern, also topping out exactly 1,442 days after the previous peak. This time, Dogecoin recorded an even larger surge, jumping by 54,890% from its cycle low to the peak of $0.74 in May 2021. 

Dogecoin 1W Chart Dima Potts
Dogecoin 1W Chart | Dima Potts

Currently, Dogecoin is in its third major cycle. Potts predicts that if history repeats, the next peak will happen around the week of April 14, 2025. He believes that this cycle could be just as strong, if not stronger, than the previous ones. 

His report predicts a price of $10+, but data from the chart shows he expects DOGE to hit an ambitious $440 price, which would mark a 175,900% increase from the current price of $0.25. Expectedly, several proponents have dismissed the $440 price target as wishful thinking.

Nonetheless, according to the analyst, factors such as growing adoption and increasing institutional interest could drive Dogecoin’s price higher. Recall that leading institutions such as Grayscale have filed to introduce a Dogecoin ETF, which could attract more capital inflow.

Analysts Remain Bullish on Dogecoin 

Meanwhile, several other analysts remain bullish on Dogecoin. Market watcher Ali Martinez recently noted the importance of Dogecoin holding above $0.19. Currently, DOGE changes hands at $0.2527, down 2.91% in the past 24 hours.

Martinez believes that as long as the $0.19 support level remains intact, a parabolic rally toward $10 is still in play, aligning with Potts’ smaller target. Martinez has noted that momentum is steadily building, and this increases the chances of a major breakout.  

In contrast, another analyst, AMCrypto, expects Dogecoin to experience a short-term decline before resuming its upward trend. He noted that Dogecoin had previously broken out of a cup and handle pattern, which resulted in a 300% rally.  

Despite the surge, AMCrypto believes Dogecoin has not yet retested its breakout level even with the latest drop to $0.21 earlier this week. He suggests that the price could dip further to the $0.17-$0.18 range before resuming its climb toward a new all-time high.

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