Crypto analyst Master Kenobi has revealed the components that would result in a Dogecoin worth rally to $2 and trigger the meme coin to flip Solana and BNB within the course of. This got here because the analyst outlined a state of affairs the place Dogecoin turns into the third-largest crypto by market cap.
Why Dogecoin Price Can Rally To $2
In an X publish, Master Kenobi said that the Dogecoin worth might simply climb to $2 and even larger with the fast stream of capital and the frenzy available in the market. The analyst made this prediction whereas explaining how Dogecoin might turn out to be the third-largest crypto by market cap, flipping Solana and BNB. He famous that it gained’t be straightforward since SOL and BNB would probably hold advancing, but it surely stays potential since DOGE can rally to $2 and even larger.
Master Kenobi additionally highlighted how the Dogecoin worth is at the moment experiencing vital bullish momentum, inserting the highest meme coin above these different cash. For context, DOGE is up 100% within the final seven days. Meanwhile, the Solana price and BNB worth have recorded meager good points of simply over 12% and 4%, respectively.
The analyst famous that this parabolic rally for DOGE has been partly due to a number of components, together with ones stemming from the White House. This is in reference to Elon Musk’s Department of Government Efficiency (D.O.G.E), which has turn out to be official following Donald Trump’s appointment of the world’s richest man to move the division.
Master Kenobi added that this bullish momentum for Dogecoin’s worth will additional improve when the foremost meme coin reclaims a $100 billion market cap and reaches its present all-time excessive (ATH) of $0.73. The analyst is assured that it gained’t be lengthy earlier than DOGE hits $1 and has a market cap of $148 billion, surpassing Tether and going head-to-head with Solana and BNB.
A Price Correction Might Happen Before Another Leg Up
In an X post, crypto analyst Kevin Capital prompt that the Dogecoin worth could expertise a correction earlier than it witnesses one other leg up. He stated he was stunned that the value decline hadn’t occurred but. The analyst added that historical past and the present technical indicators assist a correction to chill off indicators earlier than DOGE heads larger.
In one other X publish, the analyst reaffirmed that the Dogecoin worth correction was more likely to occur quickly, together with his earlier prediction enjoying out to perfection. He earlier predicted that DOGE might go larger if the Bitcoin worth hits $94,000 to $95,000. However, as soon as that’s carried out, Dogecoin might drop to as little as $0.26 earlier than heading larger.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has lined matters that lower throughout DeFi, NFTs, sensible contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to know. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
