Can The Dogecoin Price Reach $3

The Dogecoin price is currently enjoying a bull run, especially considering its gains over the past few weeks. This has led to discussions on how high the meme coin could rise in this market cycle, with $3 a possibility. However, crypto analyst Kevin Capital has explained why a rally to $3 is very unlikely.

Dogecoin price has been a subject of interest, especially with its gains over the past few weeks. This has led to discussions on how high the meme coin could rise in this market cycle, with $3 a possibility. However, crypto analyst Kevin Capital has explained why a rally to $3 is very unlikely.

In an X post, Kevin Capital opined that it is highly unlikely that the Dogecoin price will reach $3.90 in this market cycle. He explained that the top meme coin has reached the 1.618 macro golden pocket in every Dogecoin cycle.

The analyst further revealed that the current macro golden pocket is $3.90. However, Kevin Capital said that if the Dogecoin price top is measured from the top before Elon Musk’s Saturday Night Live in 2021, then the macro golden pocket is at $1.80. As such, he believes that the $3.90 target is unlikely and added that even $1.80 is a “stretch” but achievable depending on how the Bitcoin price rallies.

Amid this analysis, Kevin Capital also revealed that Dogecoin was on the brink of another weekly Golden Cross. He claimed that the last time this happened was four years ago. Back then, after the Golden Cross happened, DOGE witnessed three weeks of a dip and consolidation before it went on to make a cycle top 119 days after the cross.

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