Recent developments suggest that cryptocurrency investors looking to catch the next quick 5x should keep an eye on it Dogecoin price. This is based on both technical and fundamental analysis, which proves that Doge could register a price boost of 500% from current levels.

The analyst predicts a 500% boost in the price of Dogecoin

IN X PostCrypto analyst Javon Marks predicted a 500% boost in the price of Dogecoin, which is a 5x boost from current levels. The analyst explained that Dogecoin has made a comeback, showing strength and through it Historic performanceDoge can be set to over 432% at least from the current level.

Javon Marks He further noted that Dogecoin price may rally above the 1.618 FIB extension, which is currently at $2.2. In line with this, the analyst added that market participants may still be early considering that Doge may witness a price boost of 5x from its current level.

Crypto analyst Tardigrade Trader He also recently predicted that Dogecoin price could collect above $2. In post X, the analyst stated that the meme coin formed a bull flag on the 2-day chart. According to the analyst, this Doge Bull flag pattern puts a target above $2 for the most essential meme coin.

The crypto analyst previously predicted that Doge Price could even garner as much as $8 if it reflects Bull Run 2017. He added that Doge could also hit $30 if it reflects Bull Run 2021. These predictions further prove that the premier coin can at least register 500% price boost from current levels. Crypto analyst Master Kenobi He also previously predicted that Dogecoin could rally up to $2 this cycle and reach around $3.

Bullish fundamentals also support a 5x upside for Doge

Dogecoin price also offers bullish fundamentals that support a 5x upside from current levels. One of the cornerstones includes the potential launch of the Dogecoin Exchange Trading Fund (ETF) in the US. Asset manager Bitwise recently filed In the case of the Dogecoin ETF in Delaware, indicating that a filing with the U.S. Securities and Exchange Commission (SEC) may be next.

Asset manager Rex sharesin partnership with Osprey, already filed with the SEC to offer the Dogecoin ETF. This is bullish for Dogecoin’s price given the amount of institutional funds that could flow into the Doge ecosystem if the SEC approves these funds. There is also a huge likelihood that the SEC will approve these funds, given the pro-crypt climate under Donald Trump’s administration.

It is also worth mentioning that there has been a huge accumulation trend among whales, which is also bullish on Dogecoin price. Data intotheblock It shows that in enormous transactions, Meme Coin had a 41% gain, with $23.35 billion traded in the last 24 hours. Another bullish fundamental is Elon Musk’s Department of Government (DOGE), which is putting the most essential meme coin in the spotlight.

As of this writing, Doge is trading at around $0.35, down almost 4% in the last 24 hours, according to data from CoinmarketCap.

Featured image from ISTock, chart from Tradingview.com