Crypto analyst Master Kenobi has revealed the factors that could lead to a Dogecoin price rally to $2 and cause the meme coin to flip Solana and BNB in the process. This came as the analyst outlined a scenario where Dogecoin becomes the third-largest crypto by market cap.
Why Dogecoin Price Can Rally To $2
In an X post, Master Kenobi stated that the Dogecoin price could easily climb to $2 or even higher with the rapid flow of capital and the frenzy in the market. The analyst made this prediction while explaining how Dogecoin could become the third-largest crypto by market cap, flipping Solana and BNB. He noted that it won’t be easy since SOL and BNB would likely keep advancing, but it remains possible since DOGE can rally to $2 or even higher.
Master Kenobi also highlighted how the Dogecoin price is currently experiencing significant bullish momentum, placing the top meme coin above these other coins. For context, DOGE is up 100% in the last seven days. Meanwhile, the Solana price and BNB price have recorded meager gains of just over 12% and 4%, respectively.
The analyst noted that this parabolic rally for DOGE has been partly thanks to several factors, including ones stemming from the White House. This is in reference to Elon Musk’s Department of Government Efficiency (D.O.G.E), which has become official following Donald Trump’s appointment of the world’s richest man to head the department.
Master Kenobi added that this bullish momentum for Dogecoin’s price will further increase when the foremost meme coin reclaims a $100 billion market cap and reaches its current all-time high (ATH) of $0.73. The analyst is confident that it won’t be long before DOGE hits $1 and has a market cap of $148 billion, surpassing Tether and going head-to-head with Solana and BNB.
A Price Correction Might Happen Before Another Leg Up
In an X post, crypto analyst Kevin Capital suggested that the Dogecoin price may experience a correction before it witnesses another leg up. He said he was surprised that the price decline hadn’t happened yet. The analyst added that history and the current technical indicators support a correction to cool off indicators before DOGE heads higher.
In another X post, the analyst reaffirmed that the Dogecoin price correction was likely to happen soon, with his earlier prediction playing out to perfection. He earlier predicted that DOGE could go higher if the Bitcoin price hits $94,000 to $95,000. However, once that is done, Dogecoin could drop to as low as $0.26 before heading higher.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: