Analyst predicts sevenfold growth for memecoin DOGE

Technical analyst Chandler Bing reported that in the long term, the price of the memecoin Dogecoin (DOGE) will increase sevenfold, reaching a range of $2.35 to $2.60. He shared this on his microblog.

Bing's theory is based on the previous dynamics of the cryptocurrency in relation to Bitcoin and Ethereum during past bull market phases. Another investor, going by the nickname CEO, made a similar prediction, concluding that Dogecoin (DOGE) will experience a powerful rally in 2025 — "much more significant than in 2021."

Currently, the memecoin DOGE is trading at $0.31. Over the past week, the asset has decreased by 2.8%; in the last 30 days — by 20.4%, according to CoinGecko. Previously, the co-founder of the Bitcoin sidechain Sequentia, Andreas Kol, reported that he was able to stop 69% of the nodes in the Dogecoin network.

Earlier, we reported that U.S. President Donald Trump started selling T-shirts with the DOGE inscription after the artificially created increase in the value of the mem-token Dogecoin (DOGE) came to an end.