Will Leading Meme Coin Dogecoin Rise to $20? Expert Forecast and Whale Movements

Analyst Javon Marks predicts that the DOGE price could rise to $20 in the current bull cycle. DOGE gained 90 times in 2017 and 306 times in 2021.

Meme coin projects have been attracting attention in the crypto market lately. While the price of DOGE has been on the rise, BONK has come to the fore with a massive token burn. Market experts and investors are discussing the long-term effects of these developments.

Will Leading Meme Coin Dogecoin Rise to $20? Expert Forecast and Whale Movements

Analyst Javon Marks predicts that the DOGE price could rise to $20 in the current bull cycle. Marks bases this prediction on the past performance of DOGE, which gained 90 times in 2017 and 306 times in 2021. In light of this data, Marks believes that DOGE could make a bigger jump in 2024.

“Dogecoin's past cycles have often resulted in huge gains. In 2017, it gained over 90 times, and in 2021, it gained 306 times,” said Marks.

DOGE price is currently trading at $0.3224 and is up 2.57% in the last 24 hours. Whale activity is also increasing interest in the Dogecoin ecosystem. According to IntoTheBlock data, the volume of major transactions has increased by 41% in the last 24 hours, exceeding $23 billion in total. This signals a bullish trend for the meme coin.

BONK’s Big Token Burn and Market Reaction

BONK drew attention by burning 1.69 trillion tokens on December 26, reducing its supply. However, this big step did not save the price. The token value fell by 7.2% after the burn. Some community members argued that the burn being held a day later than planned led to a loss of trust.

“The price keeps dropping because you didn't keep your promises. You're about to lose the community,” wrote one user on social media.

The price has seen a 5% recovery in the past few hours, with the total supply of BONK dropping from 90.97 trillion to 89.28 trillion. However, considering the challenges in the market at large and the frustrations within the community, the future of the token remains uncertain.

Dogwifhat (WIF): Is Another Uptrend Coming?

WIF has recently started to rise after testing the $1.80 support level. According to technical analysis, every time this support level is tested, it creates strong buying pressure. WIF is currently trading at $1.92 and is up over 4% in the last 24 hours.

Data from Coinglass shows that $16 million worth of WIF has exited exchanges. These outflows suggest that investors are looking to hold the token for the long term. If WIF can break above the $1,945 resistance, it could see a 35% increase to $2.65. However, falling below that level will see the price pull back lower.

A New Wave of Meme Coin in the Crypto Market?

Crypto assets such as DOGE, BONK, and WIF are drawing attention with the dynamics that increase investor interest. DOGE’s whale movements, BONK’s token burn, and WIF’s technical analysis data provide potential opportunities in the market. However, investors need to act carefully in these volatile markets.

To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channels