As Bitcoin (BTC) hovers near the $100,000 mark, striving to break through this milestone, crypto enthusiasts are eagerly anticipating the fabled altcoin season. That is when BTC dominance fades and other coins start popping often in a far more extreme manner than the daddy of crypto does.
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That means huge gains over a short period of time as a snowball effect takes place and coins surge to improbable highs. The coins that tend to initially lead this charge are the ones that nestle below Bitcoin in the top 10, and that’s where Elon Musk favorite Dogecoin (DOGE) resides.
Dogecoin might be famous for Musk’s support, with the newly formed Department of Government Efficiency (DOGE) being a not-too-subtle tribute to the top dog-themed memecoin, but the coin also boasts a fairly rabid community.
You can probably count Kev Capital amongst its biggest supporters, as he is the self-styled “Dogecoin lead analyst on X.”
Now, Dogecoin has been rallying, having gained 167% over the past month, thereby signaling that alt season could indeed be upon us, and for the DOGE analyst, that’s not all that surprising. Back in September, when the price action was pretty tepid, he predicted DOGE would reach an “all time high or close to it” in December.
“That’s my call based off average time between previous all time highs and Crypto cycles,” he went on to say. “Stay positive we are still in a bullish trend it just takes a while.”
Well, now in early December, with the coin having surged but still 40% below the all-time high of $0.7376 reached in 2021, Kev is looking further ahead to some outlandish gains.
“In Dogecoin’s previous cycle when it had its first major leg up, it’s consolidated for 24 days after that move before legging up again to the macro golden pocket,” the Dogecoin analyst explained. “If DOGE were to follow a similar path that would mean that the next leg will start by the end of the week and Doge will begin its path to the macro golden pocket which is at $3.80-$4.00. That would be astronomical performance though and it’s hard to make that type of call.”
Is that really feasible? Sounds unlikely but if you would have said a few years ago that DOGE would have a market cap of $60 billion, that would have sounded far-fetched too. In any case, the crypto analyst signs off by tempering expectations somewhat, saying, “Let’s start with making a new ATH [all time high] by the end of the month like I predicted back in September…” (See Dogecoin Analysis)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
