Dogecoin (DOGE) continued to trade sluggishly on Thursday, following a weak weekly close on Sunday. Notably, the leading meme coin has been moving sideways in recent days after a sharp pullback since December 9, during which it has lost around 32% of its value amid a broader market downturn led by Bitcoin.
Despite this pullback, analysts forecast a calm before the storm, expecting that growing investor interest could fuel a potential rally, further supported by technical chart indicators.
In a tweet, popular trading analyst Chandler Bing recently shared an ambitious price forecast for DOGE, suggesting it could surge over 700% from its current value. Bing provided a detailed analysis, sharing a chart from 2017 to 2021, highlighting key trends in DOGE’s price movements.
Notably, the chart reveals similar accumulation, breakout, and explosive growth phases observed in the last two bull runs. Bing also highlighted Fibonacci extension levels at 1.618, 2.618, and 3.618, which typically act as profit-taking zones during parabolic price surges, aligning with the current market scenario. Based on this, he concluded that history could repeat itself, with Dogecoin potentially replicating its 2017 and 2021 rallies.
“A conservative target is between $2.35 and $2.60,” he wrote. “This is based on DOGE’s performance during previous bull runs relative to Bitcoin and Ethereum.”
 
Meanwhile, analyst Ali Martinez presented a more optimistic outlook, analyzing Dogecoin’s weekly chart and highlighting the price movement within an ascending channel. Martinez predicts that if Dogecoin continues to follow this parallel channel pattern, it could surge by 6,770%. While he did not specify a timeline for this move, hitting this target would push the price well above the $15 range.
Martinez’s bold forecast echoes trader Tandigrade, who recently shared with his 68,000 X followers that he is targeting a profit-taking zone for Dogecoin between $10 and $30 in this cycle.
“Based on the last cycle (2021 bull-run), this could be your target for DOGE in the current cycle. The target is measured from the bottom to the previous all-time high, doubled as a base, and projected in a triangle. Take profits at $10,” he explained.
At the time of writing, Dogecoin (DOGE) was trading at $0.26, reflecting a 3.5% drop over the past 24 hours. However, the coin’s 24-hour trading volume saw a significant surge, rising by over 44% to reach $1.6 billion, indicating increased market activity and growing investor interest.
Source: https://zycrypto.com/pundit-predicts-dogecoin-could-surge-sevenfold-in-a-conservative-scenario/
