↵

Photo by Executium on Unsplash

A recent analysis by popular crypto analyst Javon Marks suggests that Dogecoin (DOGE) might be about to see a significant price breakthrough. Marks speculates that this major shift for the top meme coin would happen earlier than most people would have guessed.

With Dogecoin perhaps hitting its current breakthrough objective of $0.6533, he projects a price skyrocket of more than 404%.

$DOGE (Dogecoin) and its next leg up towards the current breakout target @ $0.6533 may be a matter of time and prices could be preparing here for a break above!

As of current, with a price breakout holding, a roughly +404% run to reach this target can be loading... https://t.co/Uy2g7WC1PV pic.twitter.com/m4PiVm3SVx

— JAVON⚡️MARKS (@JavonTM1) June 30, 2024

DOGE Price Forecast and Market Data

Marks offered his observations in a recent X post, suggesting that this price rise may already be under way and could be forthcoming. With prices ready to rise above present levels, he said the next leg up for Dogecoin might just be a matter of time.

DOGE is trading around $0.1215 as of the most recent data from CoinMarketCap; it dropped 1.17% over the last 24 hours. Dogecoin had a bearish trend during the past week, declining 3.52%.

For Dogecoin, a rise towards $0.6533 would be rather important, as it marks a yearly high and maybe the climax of a long-overdue surge.

Marks thinks Dogecoin might still make additional parabolic movements to the upside even after reaching the $0.6533 target, despite its rather poor performance as compared to other meme coins this year.

Comparative Market Movements

Adding to the conversation, CNF highlighted that popular anonymous analyst Kaleo noted the present super cycle of meme currencies might drive DOGE values as high as $2.

As Dogecoin is ready for what would be a major swing in its price path, investors and enthusiasts are keeping a close eye.

But in recent market events, Toncoin exceeded Dogecoin in market value, therefore securing the eighth largest cryptocurrency position—a position it retains at the time of writing.

More By This Author:

Solana Meme Coins Surge 800% YTD, Outshining Ethereum’s Performance
Bitcoin Gets Staking Feature as Startup Lombard Introduces ‘Ethereum-Like’ Staking Feature
AI’s Growth And The Centralization Dilemma: Can Decentralization Offer A Path Forward?