Historical charts suggest that the Dogecoin price might rally to $20 this bull cycle. However, can the DOGE price realistically reach this level? Javon Marks, a well-known crypto analyst, shared an interesting chart that indicates that the largest memecoin could be ready for another big bull run.
Dogecoin Price Predicted to Reach $20 This Cycle
After making similar predictions on December 28, 2024, Javon Marks has once again shared a bold Dogecoin (DOGE) price prediction. He believes Dogecoin could reach more than $20 in the next market surge. This prediction is based on Dogecoin’s past market performance and the patterns observed during previous bull cycles.
Marks points out that in 2017, Dogecoin’s price rose by 90x; in 2021, it increased by 305x. He speculates that we might see another notable jump, potentially more than 60 times, which would push Dogecoin above $20.
The analyst notes that Dogecoin seems to gain strength with each rising market cycle. As such, he believes that if history repeats and we see another strong market cycle, Dogecoin could perform much better than before.
However, this prediction relies on the idea that past market behaviors can help predict future trends, a topic often debated in financial analysis.
Is a 60x Rally Possible for DOGE in 2025?
The DOGE price prediction leans heavily into speculative optimism rather than solid financial reasons. Although the Dogecoin price has done well in the past due to community support, reaching a price of $20 per token would require a lot of demand.
If the DOGE price hits $20, its market value would be about $2.8 trillion, leading Bitcoin’s market cap to exceed at least $10 trillion, too. For context, over 140 billion Dogecoins are circulating, making this price target very ambitious without big differences in demand or adoption yet.
However, the launch of the Department of Government Efficiency (DOGE) could boost Dogecoin’s growth in the coming weeks. This new department will be led by Elon Musk, who is known for his support of Dogecoin and its community.
Dogecoin’s success relies on its community and social media hype. Figures like Elon Musk have greatly influenced its popularity over the years. If enthusiasm continues or increases, it could push Dogecoin prices up. While it may not hit $20, at least in this bull cycle, it could go beyond its previous high of $0.73 and conveniently rise above $1.
Crypto trader Martini Guy says, “DOGE is one Elon Tweet away from a HUGE pump” once the D.O.G.E department starts operations.
The Dogecoin price has increased by 2.58% in the last 24 hours, trading at $0.3427 at press time. Its trading volume rose by 127.31% on Coinmarketcap, totaling $3.79 billion in the previous 24 hours.
READ MORE: Cardano, BNB, Solana, and Altcoin Prices Brace For 2 Key Events
