The cryptocurrency market went wild in late 2020 to 2021, making Dogecoin soar from $0.002 to a high of $0.73. It skyrocketed nearly 36,500% in just six months, generating unbelievable profits for investors in a short time. DOGE became the hero of the bull market as Tesla CEO Elon Musk announced he had invested in the meme coin. The sky was the limit for the dog-themed cryptocurrency as millions of new investors worldwide entered the market.
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Source: Coingecko
Now that the cryptocurrency market has ignited another rally, will it go as wild as it did in 2021? When that happens, how high can Dogecoin reach in a wild bull run that is let loose? In this article, we will highlight a price prediction on how high DOGE could soar when the markets reach their peak.
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Dogecoin: Could It Reach $18 If the Markets Go Wild?
Source: CryptoPotato.com
Leading cryptocurrency analyst Ali Martinez has predicted that Dogecoin could reach $18 if the markets “go wild.” He explained that the dog-themed coin could face corrections now between the $0.30 to $0.40 mark. However, he urged investors to buy the dip as it could soar to a new all-time high of $3 next.
“For that reason, I’m thankful for the dip and will buy more between $0.40-$0.30. The target remains $3,” for Dogecoin, he said on X. The analyst added “And if things go wild, $18!” he wrote.
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Can It Actually Reach The Value of $18?
Source: Pixabay
Dogecoin needs to rise by another 4,300% if it wants to hit the $18 mark in the charts. While it surged 36,500% in six months between 2020 and 2021, rising 4,300% sounds believable. However, the cryptocurrency market is in a different territory now than it was four years ago. Despite the massive bull run, DOGE failed to climb above the $1 mark in May 2021.
Also Read: Dogecoin Rose 400% This Year: $10,000 Investment Turned $50,000 in 2024
A bigger and stronger bull market needs to arise next for Dogecoin to even consider reaching $3, let alone $18. Therefore, these ‘wild’ price predictions can be taken with a grain of salt and not be taken seriously.
