Both analysts and investors have Dogecoin under their microscope, especially in lightweight of recent forecasts indicating a possible price spike. Market analyst Javier Santini made headlines with his prediction that Dogecoin could hit $4 within a week following the ongoing correction phase.

Analyst’s opinion

Javier Santini, founder of Elemento Cripto, bases his prediction on how prices have changed since Dogecoin’s inception in 2017. He says declines below historic highs will likely persist for a month or more before the coin begins to rise again.

Any moderate cooling (below ATH) from the beginning $DOGE has exactly 1 month duration at +24. Fact since 2017.

The next and first hyperbolic impulse will begin next week and should reach $4 within a week or less. $XRP up to $25.

The news should be very unexpected. pic.twitter.com/1Y2HpinqrH

— Javier Santini (@javierosantini) December 21, 2024

After reaching a high of $0.48 following the US presidential election results in early December, Dogecoin currently undergoing correction. It’s dropped 35% since then, but Santini said the crash is a normal part of the market cycle.

Santini says historical data for Dogecoin shows recurring trends during corrections. Based on Dogecoin’s weekly chart, he provided observations that each transition period lasted approximately one month.

He believes that Dogecoin will have a huge rally after this correction, which he believes will end soon and could reach $4 in just one week. Compared to the current price of around $0.3253, this would represent an astonishing enhance of over 1168%.

Market sentiment and overall patterns

Dogecoin excites and worries people. Some investors are cautious about cryptocurrencies due to their volatility, while others want to profit. While the correction has drawn attention, analysts like Santini say such swings are normal and often precede substantial gains.

Another expert @Degengambleh predicts that Dogecoin will reach $4.20, confirming Santini’s hopeful estimate. I predict another upside as the 1000-day accumulation pattern shows significant support for the cryptocurrency.

Many variables

Does Dogecoin actually achieve them? lofty goals the future will depend on many variables, including market sentiment and more general developments in the cryptocurrency space. We may soon witness the next chapter in this extraordinary story of Dogecoin – rapid growth after a period of consolidation – if Santini’s theory is correct.

Even though the Dogecoin price forecast is quite unclear, there is an hopeful vibe from past trends and today’s market behavior. As such, investors are challenged to remain aware and truly conduct thorough research when taking advantage of this active financial landscape.

Featured image from Pexels, chart from TradingView