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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale

Scott Matherson
Scott Matherson
9 months ago
3 mins read
Dogecoin price

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Crypto analyst KrissPax has predicted that the Dogecoin price can rally to as high as $3 in this market cycle. The analyst further explained how the foremost meme coin will reach this price target using the Logarithmic scale. 

Dogecoin Price To Reach $3

In an X post, KrissPax highlighted a path for the Dogecoin price to reach $3. He drew attention to a Dogecoin chart that connects the monthly tops of 2017 and 2021, with an arc representing diminishing returns with a larger market cap, using a logarithmic scale. He suggested that the first step to reaching this $3 target will be for Dogecoin to reach $1. However, the analyst is convinced that the meme coin can reach $3 in this cycle.  

Dogecoin price 1
Source: X

Based on crypto analyst Trader Tardigrade’s recent analysis, this Dogecoin price rally to $1 could happen soon, putting the rally to $3 in motion. In an X post, the analyst said the Dogecoin Relative Strength Index (RSI) has been bouncing up from the oversold zone on a 4-hour chart. The recent RSI bounces from the same zone caused Dogecoin to surge 40% and 200%.  

Dogecoin price 2
Source: X

The crypto analyst added that the pump intensity is even getting stronger. In line with this, he remarked that it won’t be surprising if the Dogecoin price spikes beyond the 200% level and rallies above $1.15. Trader Tardigrade also recently predicted that Dogecoin could rise as high as $3.52. This came as he noted how the meme coin always enjoys a 2x increase from previous local tops. 

 

Meanwhile, as these crypto analysts have suggested, this $3 target might not be the market top for the Dogecoin price in this market cycle. Crypto analyst Philip recently predicted that Dogecoin could at least reach a conservative target of $5. The analyst made this prediction in relation to DOGE’s performance in previous cycles. 

Anything Above $5 Is Unrealistic 

In an X post, crypto analyst Master Kenobi asserted that any chart projecting the Dogecoin price above $5 in this market cycle is unrealistic. He made this claim in relation to what Dogecoin’s market cap would be if it were to reach targets above $5, which he believes cannot happen in this bull run. 

Master Kenobi warned investors about looking forward to these price targets above $5 as they risk becoming bagholders for another four years. As to how high he believes the Dogecoin price can rise in this cycle, the analyst predicts that the range between $1 and $2 is realistic. 

He is confident that the rally to $1 could mirror Bitcoin’s rally from $1,000 to $10,000, and the rally to $2 could happen the same way BTC rallied$10,000 to $20,000 in just two weeks.

At the time of writing, the Dogecoin price is trading at around $0.4, up in the last 24 hours, according to data from CoinMarketCap. 

Dogecoin price chart from Tradingview.com
DOGE price pushes above $0.4 again | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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