The future trajectory of Dogecoin (DOGE) continues to be the subject of much discussion, with crypto analysts assessing the direction the leading coin is heading. Crypto analyst Capt. Toblerone’s analysis is in the spotlight, given how the the main coins price action continued to align with his prediction.
DOGE’s 30% crash still in play
In an X (formerly Twitter) jobCapt Toblerone mentioned that Dogecoin will experience a 30% price drop from its current price level. He further claimed that the next reload zone is at $0.108. He predicted that Dogecoin would rally 1300% from this level, indicating that one would need to get 13x from the cooldown zone.
A 1,300% move for Dogecoin means the meme coin will hit $1.5. This prediction aligns with others made by crypto analysts like Ali MartinezWHO predict that the meme coin could reach $1 during this cycle. This also seems feasible given that crypto analyst Kevin (formerly OG Yomi) once mentioned how Dogecoin performed during previous bull markets and why the meme coin could rally above $3.
However, while Dogecoin appears poised to make such a parabolic move, Pav Hundal, senior analyst at Australian exchange Swyftx, explained what could stop the meme coin from reaching $1. He alluded to the fact that some Dogecoin holders bought the coin even at its market peak during the last bull run.
He believes these holders will look to profit once DOGE hits a new all-time high (ATH) in this bull cycle. Therefore, depending on its magnitude, such selling pressure could derail the coin from even reaching $1. He also suggested that DOGE could see enough liquidity to push it to such a level, as many more coins are on the market now.
However, crypto analyst Rekt Capital disagrees with Hundal. He called Dogecoin “one of the most cyclical altcoins in the space.” Therefore, he expects the meme coin to make a parabolic move, as has been the case in previous cycles.
Dogecoin could indeed fall to $0.10
Crypto Analyst CrediBULL Crypto also predicted that Dogecoin could fall as low as $0.10. However, the analyst expects the meme coin to first experience a relief pump and reach up to $0.18. He revealed that he would look to short the coin even at the $0.18 price level as it moves down to $0.10.
However, Dogecoin is not the only meme coin that CrediBULL Crypto expects to see a significant decline. He predicts that other major coins like Pepe (PEPE) And Dog Hat (WIF) will experience a price drop down list given the kind of rally they’ve enjoyed this year.
At the time of writing, Dogecoin is trading at around $0.16, up more than 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
