Following its price surge in 2021, Dogecoin has become one of the most sought-after cryptocurrencies, with many expecting a repeat of this performance. Since then, the Dogecoin price has failed to surge, leaving investors wanting more. However, this period of poor performance may be drawing to a close as a crypto analyst expects a significant price surge for the meme coin.
Dogecoin Price Headed For A New All-Time High
Despite seeing a recovery from the recent market crash, the Dogecoin price is still well below its all-time high price of $0.07376 recorded in May of 2021. For some, this is a bad sign, while others believe that it means that the meme coin is at a good level for buying.
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One of the crypto analysts who have maintained their bullish stance on Dogecoin is Alan Santana. In a recent analysis, Santana revealed his high expectations for the Dogecoin price, predicting that the largest meme coin by market cap is headed for a new all-time high price.
In the analysis, the crypto analyst revealed that he expects that the Dogecoin price will eventually reach as high as $2.55. This price point, if achieved, would mean that the Dogecoin price will see an over 2,500% increase in price from its current value.
Perhaps even more interesting than the price point is the timeframe for this. Santana expressed that he expects the DOGE price to reach this target by 2025. It would also mean a 200% increase from its current all-time high as well.
When Is The Best Time To Buy DOGE?
The crypto analyst also took time to remind readers of the importance of holding. Some of the other things outlined include not being greedy, not being in a hurry, and not trying to only sell the top. Rather, the crypto analyst believes that now is the time to buy and the only time to sell is in the year 2025.
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According to Santana, it doesn’t matter where one buys Dogecoin now. As long as the price crosses $1, it would mean profits regardless of when the coins were bought. “The important thing is to buy red, when prices are low,” the analyst said. “The important part is to enter the market when things are boring and people are away. This is the best time to buy. If there is excitement and hype, it means that it is already too late.”
Finally, the crypto analyst points out the fact that the market moves in waves, meaning it doesn’t go up or down forever. For Dogecoin, Santana stated: “It has been going down, soon it will start to go up.”
Featured image created with Dall.E, chart from Tradingview.com