Dogecoin has been consistently consolidating just below the $0.44 mark, but the positive sentiment within the crypto community is at an all-time high. Renowned crypto analyst Kevin, known on the social media platform X as @Kev_Capital_TA, has recently provided an updated perspective on the potential trajectory of Dogecoin’s price. He remains optimistic, maintaining that the $1.30 to $1.50 range is an achievable target. His latest analysis highlights this price zone as a significant area on his macro chart, aligning with the prevailing market sentiment surrounding Dogecoin.
Revisiting Kevin’s Macro Analysis and Earlier Projections
Kevin’s bullish outlook on Dogecoin’s price is an extension of his previous analysis from September 18. At that time, he had outlined broader price targets, noting that Dogecoin was nearing a golden cross on the weekly timeframe—a technical pattern that signals prolonged bullish momentum. This pattern’s emergence for the first time in four years provided a strong foundation for his optimistic projections.
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In his earlier analysis, Kevin suggested that Dogecoin’s performance in this cycle could result in price levels ranging from $0.93 for moderate growth to as high as $3.80 in an exceptionally bullish market environment. Both targets would place Dogecoin at new highs, surpassing its 2021 peak. At that time, Dogecoin was trading at $0.10 and was on the brink of breaking above the upper trendline of a descending channel. Since then, Dogecoin has reached a peak of $0.44, marking a remarkable 340% increase.
Since the golden cross materialized, Dogecoin has shown a strong bullish trajectory. Kevin’s updated target of $1.30-$1.50 reflects the midpoint of the coin’s current path and its potential for continued growth under favorable market conditions.
The Path to $1.50
Chart patterns and an optimistic market sentiment bolster Kevin’s positive outlook for Dogecoin. At the time of this analysis, Dogecoin is trading at $0.4237, having slightly declined by about 2.5% in the past 24 hours since reaching the $0.44 peak. Notably, this peak marks Dogecoin’s highest point since May 2021.
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Achieving the $1.30 or $1.50 price targets would translate to a 172% and 240% increase, respectively, from the current price level. The first critical step towards this goal is a decisive break above $0.44, followed by surpassing its current all-time high of $0.7316.
Having already climbed by 330% over the past six weeks, Dogecoin is showing signs of sustained growth, supported by favorable market conditions and technical indicators. Enthusiasts are eagerly anticipating insights from the upcoming address by Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy to Congress on December 5, which could impact Dogecoin’s trajectory.
