A cryptocurrency analyst has recently offered a daring price prediction for the meme-inspired cryptocurrency Dogecoin ($DOGE), suggesting it could see a surge of over 27,000% in the near future to reach the $16 mark per token.
If the price of the meme-inspired cryptocurrency were to surge 27,000% it would shatter its previous all time high. The analyst, known as AMINSHEYBANI, unveiled a chart on TradingView, captioned “Doge to the moon,” in which they hinted, as Benzinga reported, at a potential support level at $0.058, which could be the base for a massive surge that could lead to a $16 peak, meaning the cryptocurrency would rally 27,500%.
The surge, if it materializes, would mean that the market capitalization of the meme-inspired cryptocurrency would hit $2.26 trillion, far above the current market capitalization of the flagship cryptocurrency Bitcoin, which is around $575 billion and of the second-largest cryptocurrency Ethereum ($ETH), which has a $193 billion market capitalization.
The analyst’s price prediction is notably far beyond those of other analysts. As CryptoGlobe reported, an analyst has recently suggested DOGE could surge by over 170%, expcting the cryptocurrency o ascend to around $0.17 before April 2024, which would mean the cryptocurrency has an upside of 170% from current levels, according to the prediction.
Notably, Dogecoin was revealed to be among the cryptocurrency holdings of the San Francisco-based banking institution SoFi, which revealed it owned $ $166 million in cryptocurrency.
Of these holdings, $82 million are in Bitcoin, while $55 million are in the second-largest digital currency by market capitalization Ethereum. Around $4.5 million are in Cardano, while $4.9 million are in the meme-inspired cryptocurrency DOGE.