Over 5,000% Growth? Dogecoin Analyst Predicts $20 Price Tag

A crypto analyst has set a lofty price target for Dogecoin: $20. Based on the meme coin’s current price of $0.365, the forecast represents a substantial 5,380% increase.

Although a captivating concept, this perspective was sufficient to elicit both optimism and skepticism within the cryptocurrency community.

History Shows Dogecoin Thrives After US Political Shifts

Dima James Potts connects his forecast to past trends, noting that Dogecoin usually goes up after US presidential inaugurations. He points out past instances when the coin’s value went up a lot because of heightened political and social interest.

While historical performance doesn’t guarantee future success, this trend offers an intriguing glimpse into DOGE’s potential.

Potts examined Dogecoin’s weekly chart, paying particular attention to the cryptocurrency’s notable price fluctuations following the last two US presidential inaugurations.

Following the occurrence, DOGE saw a spectacular 30x price surge in 2017, and in 2021, it exceeded forecasts with an 80x rally. These past spikes have set the meme coin up for a trend of impressive post-inauguration performance.

$DOGE $10+ DOGECOIN?!