Dogecoinlargest meme coin, continues to inspire a number of bold predictions from several market experts regarding its potential in the low and long term following a recent price surge over the past few days fueled by broader positive sentiment in the overall cryptocurrency market.
Dogecoin’s short-term rally target set at $2.7
In a bold prediction, Master Kenobi, a cryptocurrency expert and trader, outlined an insightful potential scenario for Dogecoin that could push the dog-themed meme coin to unprecedented levels in the low term. Kenobi contacted the social media platform X (formerly Twitter). participation a bold prediction, causing a wave of optimism in the DOGE community.
In particular, the expert believes that DOGE could reach $2.70 by December, suggesting a bullish breakout in the coming days. His bold prediction for DOGE to reach a up-to-date all-time high is based on trends in past cycles that have preceded massive gains over time, as well as current price performance.
According to Master Kenobi, DOGE is still heading in the same direction as the previous cycle that the previous one started running of the bull with four green weeks followed by two red weeks. However, the end of the week will decide whether the formation will hold, confirming another significant upward move.
If the scenario from the previous cycle repeats itself, Kenobi claims that Dogecoin could hit the green line indicated on its chart, which will reach around $0.39 in about two weeks, specifically on October 28.
He further added that after an additional five weeks, around December 1, the same corner may get closer to the orange line, which is $2.7. “I know it sounds unbelievable, but nothing stops me from imagining that if this happens, we will see DOGE at $2.70 in December,” he said.
Nevertheless, given the volatile nature of crypto assets, investors are keeping a close eye on DOGE’s renewed price performance in hopes that the newfound momentum will trigger much greater growth to unprecedented levels in the ongoing bull cycle.
A steady decline in the number of DOGE holders
Despite recent positive price movements, investors may be despondent about Dogecoin’s numbers DOGE holders it has been falling systematically for several days.
According to data from market intelligence Santiment, the sustained decline began on October 8. During this time, the platform recorded that a total of 106,600 non-empty DOGE wallets were lost, indicating possible fights for the meme coin.
Santiment also added that due to dissatisfaction with DOGE’s performance, investors were turning elsewhere for brisk pumps, suggesting a change in sentiment within the Dogecoin community. So far, this negative trend has sparked speculation about stability DOSE in the longer term, as such developments could influence future price developments if the trend continues.
Featured image from Unsplash, chart from Tradingview.com
