Recently, a cryptocurrency researcher made a bold price prediction for Dogecoin ($DOGE), a cryptocurrency inspired by memes. According to the expert, Dogecoin may soon witness a jump of over 27,000%, reaching $16 per token.
The previous all-time high of the meme-inspired cryptocurrency would be shattered if its price increased by 27,000. The trader, AMINSHEYBANI, published a chart on TradingView with the title “Doge to the moon.”
Significant XRP Transfers to Top Exchanges Propel XRP Price
According to Benzinga, the chart made reference to a possible support level at $0.058, which might serve as the foundation for a sharp increase that might reach a $16 peak, or a 27,500% increase in the value of the cryptocurrency.
Crypto Analyst Predicts 27,000% Surge for Dogecoin ($DOGE),Crypto Analyst Predicts 27,000% Surge for Dogecoin ($DOGE)
If the surge holds true, the market capitalization of the meme-inspired cryptocurrency would reach $2.26 trillion, far higher than that of the leading cryptocurrency, Bitcoin, which is currently valued at about $575 billion, and the second-largest cryptocurrency, Ethereum ($ETH), which is valued at $193 billion.
The analyst’s price projection differs significantly from other analysts’. As previously reported by CryptoGlobe, an analyst has predicted that DOGE might increase by around 170%, with the cryptocurrency rising to approximately $0.17 by April 2024. This would indicate a 170% increase in value from its present values.
From $100 to $27 Million: Shiba Inu’s Incredible Journey
Notably, it was disclosed that SoFi, a financial company with headquarters in San Francisco, possessed $166 million in cryptocurrencies, including Dogecoin.
Of these assets, $55 million is in Ethereum, the second-largest digital currency by market value, and $82 million is in Bitcoin. About $4.5 million is in Cardano, while $4.9 million is in DOGE, a cryptocurrency inspired by memes.
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