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A daring prediction has surfaced on the cryptography market, which suggests that Dogecoin (DOGE) could soar $ 6.24. The forecasts come from analyst Ali Martinez, who underlines a long -term price scheme which refers to an explosive decision.
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Although this projection has drawn the attention of investors, others remain skeptical given the massive leap necessary to reach such levels.
Current dogecoin position and key levels
Right away, Mastiff is negotiated at around $ 0.2067. The price moves in an ascending parallel channel, according to Martinez. He identifies a level of crucial support at $ 0.16, which could play a big role in determining the next movement of the play.
If Doge is above this support, the analyst thinks he could climb $ 2.74 before heading for the much higher Target of $ 6.24.
This type of overvoltage would imply an increase of almost 2,900%. Although Martinez supports it with historical data showing that Dogecoin has evolved considerably in the past, it is a bold call. But, as the wise men would say, the cryptography market behaves in a way that we sometimes do not understand. Thus, a retirement below the support could lead to a fairly different result.
#Dogecoin $ DOGE Remains in an ascending parallel channel. As long as the border less than $ 0.16 holds, a rebound to the average channel at $ 2.74 or even the limit greater than $ 6.24 remains a probability! pic.twitter.com/l0p9eph5zv
– Ali (@ali_charts) March 5, 2025
Comparison of the predictions of other analysts
Not everyone is convinced that Dogecoin will reach these heights. Some analysts have much more conservative forecasts. For example, a projection from December 2024 estimated the DOGE price at $ 0.2,990. By 2025, this number increased slightly to $ 0.3140. Looking even further, 2027 predictions put Dogecoin at $ 0.3,465.
These figures suggest that, although Dogecoin has growth potential, hoping that it reaches $ 6.24 would be too idealistic.
The circumstances of the market, the feeling of investors and the overall direction of the cryptocurrency will determine the next destination of Doge.
The market capitalization issue
Dogine’s market value Must increase considerably if it is to reach $ 6.24. Doge’s market capitalization is currently $ 31 billion. If the expected price is materialized, the assessment of the memes part market should increase to nearly $ 925 billion.
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This would make Dogecoin one of the most precious cryptocurrencies, a position which, according to some, is unlikely. However, the medal has already surprised people, fed by the media of social media and the very publicized mentions. It remains to review if it can do so.
Is it a realistic target?
The cryptocurrency market is known for its wild oscillations, and Dogecoin has a history of sudden price peaks. But it is too much to expect an increase of almost 3,000%. Making $ 6.24, the medal should have strong purchase pressure, bullish feeling and a good market environment. Easier to say than to do, but everything can happen in crypto.
At this stage, Martinez said buyers should keep an eye on key levels. Dogecoin prices may increase if it can stay above $ 0.16 and earn more vapor. The question of whether it can reach $ 6.24 is a whole different.
Star image of Gemini Imagen, tradingView graphic