Pundit Reveals $2.2-$3.46 Macro Target For Dogecoin Price As Wave 3 Continues

A crypto pundit has suggested that the Dogecoin price rally is far from over, forecasting mid-term targets between $2.2 and $3.46 for the dog-themed meme coin.

A renowned crypto pundit has predicted mid-term price targets between $2.2 and $3.46 for Dogecoin, suggesting that the meme coin is set for a significant price surge based on his analysis of the Elliott Wave Theory and current price action.

According to the analyst, who goes by the name Hov on X (formerly Twitter), Dogecoin is currently in wave 3 of the Elliott Wave Theory, which is typically the strongest wave in the five-wave motive sequence and is also considered bullish.

Hov's analysis suggests that the meme coin has received a remarkable 690% rally since recently reaching a critical macro entry level.

“Burnt out from counting waves, but here’s the macro count. Got in at 0.27 fib macro entry, up 690% now. Enjoy the third wave,” the analyst stated in his post.

The analyst's price chart shows Dogecoin entering its third wave after breaking out of a prolonged consolidation period within a critical support zone around $0.27.

While Hov has forecasted a rise to the macro targets at $2.2 – $3.46, the analyst has also revealed that the Dogecoin price could reach an ultimate target of $4.2 if it maintains a strong bullish momentum. This substantial price increase would require Dogecoin surging by 976% from its current value.

Meanwhile, another crypto analyst, known as Trader Tardigrade, has released his analysis on the upcoming local tops for Dogecoin, suggesting that the meme coin had successfully recorded multiple local market tops in the last year following a substantial price rally.

According to Tardigrade's analysis, each local top had a 2X relationship, where the Dogecoin price had doubled in the previous three local tops.

“Dogecoin local tops. 2X relationship. 0.11, 0.22, 0.44. Top fib rejection, followed by a 2X each time. Meme coin doing meme coin things. Enjoy the ride,” the analyst stated in his post.

Following the analyst's chart, Dogecoin reached a local top of $0.11 in October 2023, jumping 2X to hit another top of around $0.22 in April 2024. Interestingly, the same bullish pattern occurred again around October this year, with the meme coin doubling its previous price high to reach a local price peak of around $0.44 this month.

Based on this bullish pattern, where the Dogecoin price has historically multiplied by 2X with each local top, Trader Tardigrade predicts that the meme coin will continue this trend until it reaches an all-time high of $5.

The analyst has projected that Dogecoin could see its next local top at $0.88 by April 2025.

“0.88 April 2025. Round two, hit the 1 dollar fib again. Round three, broke out of the 1 dollar fib. Enjoy the upcoming fib dances,” the analyst added.

Additionally, around July 2025, the analyst predicts that Dogecoin will double again and surpass the $1 milestone to hit $1.76. Extending towards October 2025, the analyst has also projected that the Dogecoin price is expected to rally to $3.52.