- The Dogecoin price recently touched $0.3 for the first time since August 2021, driven by increased activity.
- According to a crypto analyst, the next 22 days are crucial for Dogecoin, as it could potentially reach a $100 billion market cap, a new all-time high, and a price of $1.
- The analyst identified a recurring 91-day cycle in Dogecoin’s price performance, and the current cycle is on day 69, entering a critical phase.
The Dogecoin price has been on a major uptrend in November, stemming from increased activity in the meme coin. This price action has resulted in Dogecoin reaching a new 2022 high. Most notably, Dogecoin recently hit the $0.30 level, a price not seen since August 2021.
Dogecoin Could Soon Hit A New All-Time High
At the current pace, Dogecoin looks poised to reach a new all-time high in the near future. However, the next 22 days will be crucial in determining if this plays out. According to crypto analyst Master Kenobi, this period marks an important phase for Dogecoin’s trajectory.
The Significance Of The Next 22 Days
Master Kenobi identified a recurring 91-day cycle that Dogecoin follows each market cycle. Currently on day 69 of this cycle, Dogecoin is entering the critical stage that could shape its short-term future.
The Next 22 Days Present A Triple Milestone Opportunity
The upcoming 22 days provide an opportunity for Dogecoin to achieve three key milestones – surpassing a $100 billion market cap, reaching a new all-time high, and hitting the $1 price level.
Firstly, Dogecoin could realistically reach between $0.42 and $1 during this period, given the influx of capital into the meme coin recently. Hitting the upper bound would mark a new all-time high for Dogecoin and be bullish for the broader meme coin sector.
Overcoming The Current All-Time High
The main obstacle is the existing all-time high of $0.7316. Master Kenobi expects Dogecoin will test this level soon. Although initial rejection here is possible, decisively moving above it would open the path to $1.
Reaching The Crucial $1 Milestone
A $1 valuation would give Dogecoin a market cap exceeding $100 billion. This key psychological level would validate Dogecoin’s longevity and cement its status as an asset with lasting potential. If Dogecoin achieves this triple milestone in the allotted 22 days, it would solidify its position in the market.
Potential Timeline For Dogecoin
The last 91-day cycle played out in November 2020. Currently trading at $0.2845, Dogecoin could realistically reach $0.42 to $1 by December 2, per this analysis. This would represent a 40% to 250% gain from the current price.
