As a Dogecoin analyst's bold $6 price forecast sparks debate, market attention is shifting toward Remittix, an emerging XRP rival.

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Dogecoin (CRYPTO: DOGE) price has seen some crazy price action in 2024 and one analyst sees a path for the meme token to surge all the way to $6.

What Happened: Dogecoin is currently trading at $0.11 and has a market cap of about $22.83 billion. To put $6 into perspective, Dogecoin's market cap would need to rise to about $925 billion.

For perspective, the cryptocurrency market cap now sits at about $1.91 trillion, according to CoinGecko.

Chart analysis provided by Martinez shows how if Dogecoin can hold above the $0.16 level, it could lead to a breakout with huge momentum that could propel the token toward the $6 level.

Dogecoin Price Action:

Many members of the crypto community have been skeptical of Dogecoin ever reaching such high levels.

One interesting tidbit of information is that huge investors have been spotted transferring massive amounts of Dogecoin into and out of the market.

Another factor that could help boost Dogecoin is the pending Bitwise Dogecoin ETF. The New York Stock Exchange Arca has filed for permission to list a Bitwise crypto ETF that would provide investors with exposure to DOGE and offer custody services through Coinbase (NASDAQ:COIN).

Remittix Could Out Run The Market In 2025: Analysts

While experts debate a Dogecoin price to $6, attention has also shifted to Remittix, a new altcoin that has sparked a buzz.

Remittix recently completed its token presale, raising nearly $13.7 million from the sale of over 516 million tokens at $0.0734. Some analysts have called Remmitix an “XRP killer” and believe it could out run the market in 2025.

Remittix is creating PayFi, which will allow people and businesses to easily convert digital assets into traditional monetary systems.

Several observers believe Remmitix will outperform the cryptocurrency market because it solves a real-world financial problem, which is something many crypto projects fail to do and get shut down for.

Cryptocurrency investors are also now more focused on projects that meet regulatory approval. The Remmitix ecosystem will offer instant international transaction settlement capabilities once it has cleared legal complexities.

Demand for Remmitix tokens is likely to increase once major merchants and key remittance channels are signed.

Remmitix is well-positioned to serve fundamental industry needs and its user-friendly crypto-to-fiat token exchange system is also facing optimal market timing.

Related Reading: Why Remitex Could Be The Next Big Payment Token In 2024