The Dogecoin price has recently experienced a notable 34% correction, settling at $0.259. Despite this downturn, many analysts remain optimistic about the market’s largest memecoin potential for recovery, suggesting that the Dogecoin price could see new highs as the bullish cycle progresses.
Crypto analyst Dima Potts believes that if the current pullback stabilizes, the market could be poised to target all-time highs ranging between $1.50 and $2.10. Potts also noted a historical correlation in the Dogecoin price cycles, with each cycle peaking 1,442 days after the previous high. If this pattern holds true, the Dogecoin price could reach its next peak around the week of April 14th.
Potts further posited that growing adoption, increasing institutional interest, and ongoing technological improvements could bolster the Dogecoin price performance, potentially allowing it to exceed previous highs. His analysis suggests that the memecoin could even reach unprecedented levels above $400 per token, translating to a massive surge of 154,400% in the coming months.
However, not all analysts share this optimistic perspective. Technical analyst Grumlin has issued a cautionary note, predicting that the Dogecoin price may dip to the $0.02 level in the near term, representing a notable 92% crash for the memecoin. Despite this short-term bearish outlook, Grumlin believes that a rebound from an ascending support line is likely, which could set the stage for a subsequent upward breakout.
As Dogecoin currently trades at $0.259, with losses of 21% and 27% on the seven-day and fourteen-day time frames, respectively, investors are closely watching to see which scenario will unfold. If Potts’ bullish predictions come to fruition, Dogecoin could be on the verge of a monumental price surge. However, if Grumlin’s cautionary outlook proves accurate, the memecoin may face further short-term losses before any potential rebound.
Tags: Dogecoin price prediction, DOGE price analysis, cryptocurrency market, memecoin trends, altcoin forecasts
Source: https://www.newsbtc.com/dogecoin-2/expert-predicts-dogecoin-price-recovery-targeting-new-heights-between-1-5-and-2/