Dogecoin has been gaining bullish momentum in the cryptocurrency market since early October, surging over 300% and solidifying its position as one of the top-performing cryptocurrencies. The price began rising ahead of the U.S. election, partly driven by news of Elon Musk being appointed as the head of the Department of Government Efficiency (DOGE), a name reminiscent of Dogecoin’s native token (DOGE), which contributed to the token’s surge. Crypto expert Master Kenobi shared on X that Dogecoin price could reach a new all-time high by December 2.
💫 #DOGE UPDATE:
— Master Kenobi (@btc_MasterPlan) November 27, 2024
In this cycle, events seem to have aligned on the calendar roughly two months ahead compared to the previous cycle. Back then, the start was on November 3, 2020, while this time it kicked off on September 2, 2024.
Since everything has unfolded so far according… pic.twitter.com/lUXWM9iZG3
The analyst noted some events in the current cycle are occurring approximately two months earlier than in the previous cycle, implying a shifted but similar pattern. This alignment begins with significant historical dates—November 3, 2020, compared to September 2, 2024—and is based on repeating patterns.
He predicted that Dogecoin would hit a new all-time high in the coming days, emphasizing the historical trend of significant price breakouts after reaching key trendlines. A conservative projection of around $1.08 aligns with past growth patterns, while a more optimistic target of $2.90 reflects a doubling of its previous all-time high. He also noted that the price might settle somewhere in between, around $1.40–$1.45.
Dogecoin Price Projections
The argument is grounded in historical chart analysis, using past cycles to justify potential future outcomes. Dogecoin has demonstrated an ability to deliver unexpected surges in past cycles.
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By specifying ranges ($1.08 to $2.90), the analysis offers tangible benchmarks for traders and investors to monitor. The narrative aligns with the idea that Dogecoin thrives on hype and momentum, making the argument credible in a speculative market.
Furthermore, enthusiasm among Dogecoin enthusiasts has grown, fueled by speculation about the potential integration of DOGE into X’s payment system. If Dogecoin is added to X, it could further drive the bullish momentum of the “meme coin king,” pushing its price beyond the previous all-time high.
