Dogecoin (DOGE), the world’s first and largest meme cryptocurrency, entered the market as a joke. But the asset continued to pocket prominent investors from across the globe. While Bitcoin (BTC) was unbeatable, DOGE’s popularity was unmatched. Several celebrities were seen embracing the meme coin and even endorsing it. Despite this, the meme coin barely saw any luck in terms of price change. The asset has been moving rather sluggishly over the past couple of years. But things could be changing for DOGE as an analyst highlighted the possibility of an increase of more than 200%.
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A Peek Into Dogecoin’s Current Market
Similar to the rest of the market, the price of Dogecoin saw a steady increase during the past 24 hours. The asset climbed from a low of $0.218 to a high of $0.2335. At the time of writing, the meme coin was trading at $0.2274. This comes after a daily rise of 3.72%. Despite a slight setback during the past seven days, DOGE managed to surge by over 40% during the past month.
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Amidst this, a prominent analyst dropped a prediction for DOGE investors. According to Javon Marks, the OG meme cryptocurrency is set for a staggering 215% rise from its current price. The analyst pointed out that the meme coin was mirroring its previous bull cycles. He noted that Dogecoin was drawing out a “similar setup this cycle.” The expert predicted that the meme coin can rise to a high of $0.73905. The analyst said,
“By Dogecoin’s previous bull cycles and its similar setup this cycle, another nearly +215% increase to $0.73905, AT THE MINIMUM, can be on the way“
It should be noted that Dogecoin hit an all-time high of $0.7376 about four years ago in 2021. If the analyst’s prediction comes true, DOGE could be registering a new peak.
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