Renowned crypto analyst Master Kenobi predicts that Dogecoin 
$0.3369 (DOGE), the leading meme coin, may have the potential to rise to $1.2 by 2025. He explained that certain conditions need to be met for DOGE to reach this target. According to him, if Dogecoin surpasses its all-time high of $0.74 by the end of January, it could bring this ambitious target within reach.
Breaking the $0.74 Barrier is Crucial for Dogecoin
Master Kenobi emphasized the importance of breaking the $0.74 level for DOGE to achieve the $1.2 mark. He noted that this would mean Dogecoin’s market value would align with that of XRP. While he described this scenario as a bonus, he reiterated that it is not impossible.
He further added that if DOGE surpasses the orange trend line by the end of January, the price could potentially reach as high as $3.4. Although this remains a challenging scenario, it could become feasible in the future.
External Factors May Influence DOGE’s Price Movement
Master Kenobi pointed out that Dogecoin has reached a balancing point in its current price movement, indicating that it is in a consolidation phase. Historically, the sharp rises in DOGE have been characterized by pauses, corrections, and horizontal consolidations. Currently, after a two-week correction, Dogecoin is testing its balance level to initiate its next movement. He suggested that events outside the crypto market could also shape Dogecoin’s future price movements.
Another analyst noted that DOGE is currently in the markup phase of a bull market, suggesting that the price could increase rapidly at the end of this phase. Additionally, he stated that if Dogecoin surpasses $0.74, there is a high potential for it to test the $1.2 mark.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
