Crypto Analyst Javon Marx made an ambitious estimate of Dogecoin (Dogge), claiming that breast Coin could jump for $ 20 in this cycle. According to Marx’s technical analysis, Dogge broke an impressive enlarged growth record in successive bull runs. If this model persists, it can provide an increase of 306 times or more in this cycle. However, despite historical tendencies, the fact that Doge reaches such a price point arouses question marks.
Ambitious estimation for Doge: Rise for $ 20!
Crypto analyst Javon Marx predicts that despite the recent decreases, Dogecoin may increase 306 times in this cycle. Javon Marx’s prediction is based on Dogecoin’s historical performance in previous cycles. Altcoin experienced an increase of 90 times in 2017, while in 2021, the rally exceeded 306 times. In this process, it reached $ 0.7316, the highest level of all current time.
A strong rise is expected for $ 20 for Doge. Source: Javon MarxBased on this model, Marx argues that a similar or larger increase can be realized and that Dge can increase the highest level of all time. If Doge reaches this price point, the current price, $ 0.24, will increase approximately 85 times. This is compatible with 2017 returns. On the other hand, an increase of 306 times will increase the price of Dogecoin to $ 87. Is this realistic?
Market value restrictions: Is a $ 20 price realistic?
In order for Dogecoin to reach $ 20, the market value will have to increase much more than the previous loops. During the article, Dogecoin’s market value is at the level of $ 36 billion. Considering the number of tokens in the existing total circulating, an increase of 85 times will increase the total market to approximately 3 trillion dollars. If Dge follows the 306 -storey orbit proposed by Marx, the market value will rise to an astronomical $ 11 trillion.
The only applicable scenario that Dogecoin can reach $ 20 is that Bitcoin has an extreme bull run and reaches a value between 1 million and 2 million dollars per BTC. In such a case, the overall crypto market may expand and allow breast coins such as Doge to continue paraboolic price increases. However, in order for Bitcoin to reach these levels, something dramatic, such as a major capital injection into the crypto market, will have to happen. One of the factors subject to speculation is the idea that the US government can allocate trillions of dollars to a Bitcoin reserve. Although such a move will undoubtedly trigger a historical rally throughout the wider crypto industry, this remains completely speculative at this point.
Dogge Customs Price Graph. Source: TradingView
