The Analyst Says Dogecoin's Price Could Still Hit $1.3-1.5, Here's Why

Dogecoin continues to consolidate just below the $0.44 level, but the positive sentiment remains at multi-year highs. Cryptocurrency analyst Kevin, known on social media platform X as @Kev_Capital_TA, has shared a fresh perspective on the bullish trajectory of Dogecoin, maintaining that the range from $1.30 to $1.50 remains a feasible target. His recent post points out this price range as a crucial level on his macro chart, aligning with the current market sentiment surrounding Dogecoin. Review Kevin's previous macroeconomic analysis and forecast This price prediction is related to the price of Dogecoin based on Kevin's previous analysis from September 18, when he outlined a broader price target as it approached a golden cross on the weekly timeframe for the first time in four years. This technical pattern is often seen as a signal of sustainable price growth. At that time, he believed that the performance of Dogecoin's price in this cycle could lead to price fluctuations from $0.93 for moderate growth to as high as $3.80 in a particularly strong market environment. Interestingly, both of these targets will see Dogecoin trading at a new high price higher than the peak in 2021. At that time, the price of Dogecoin was trading at $0.10 and was on track to surpass the upper trend line of a descending channel. Since then, the price has reached a peak of $0.44, corresponding to a 340% increase. Since the analysis, meme currency has shown this golden cross, pushing strong price prospects for its price trajectory. The target of $1.30-$1.50, updated by Kevin, reflects the midpoint of both the current trajectory of the currency and the continuous growth potential in favorable conditions.

Path to $1.5 The sample chart of Dogecoin and the broader market sentiment support Kevin's optimism. At the time of writing, Dogecoin is trading at $0.4237 and has dropped about 2.5% in the past 24 hours since reaching a peak of $0.44. Interestingly, this $0.44 peak saw Dogecoin reach its highest price since May 2021. Achieving the target price of $1.30 or $1.50 would correspond to an additional increase of 172% and 240% respectively compared to the current price. However, the first step will be a break above $0.44 and then a consecutive break above the current all-time high of $0.7316. Having increased 330% in the past six weeks, Dogecoin is showing signs of sustainable growth, supported by market conditions and technical indicators. Dogecoin enthusiasts are eagerly anticipating the outcome of scheduled speeches by Government Efficiency Leaders Elon Musk and Vivek Ramaswamy before Congress on December 5th.