Analyst John-Burr Sees Dogecoin (DOGE/USD) Price Hitting the $3 Mark by Jan. 20 and Even Touching $20 in the Future

Burr predicts Dogecoin to touch $3 by Inauguration Day. However, the analyst also acknowledged the possibility that he could be wrong, given the below-a-dollar price of Dogecoin now.

Analyst John-Burr sees Dogecoin (CRYPTO: DOGE) price hitting the $3 mark by Jan. 20 and even touching $20 in the future, as per his analysis.

Burr, in his analysis on TradingView, highlighted the possibility of Dogecoin price hitting $3 by Inauguration Day. However, he also acknowledged the potential for his analysis to be off, given the currently sub-$1 price of Dogecoin.

"But I am okay with that because I believe that this is the beginning of the bull run. I don’t care about the specific timing,” he wrote.

While some estimate DOGE price to touch $40 by next year, the more skeptical won’t predict it to go over $3, Burr said while adding that he believes Doge could touch $20. However, he noted that he was unsure about the possibility.

"I don’t know, tbh. The market is bigger than me, no matter the size of my portfolio, brain, or pedigree. Nevertheless, I bet my money on what I believe is the historical pattern,” Burr wrote.

Doge has been rising following Donald Trump‘s landslide victory in the Presidential elections. Doge prices are up by over 160% over the past month and by over 50% over the past seven days, likely owing to expectations of pro-cryptocurrency regulations under Trump.

Trump has also named billionaire Dogecoin supporter Elon Musk to spearhead the Department of Government Efficiency, together with former Republican presidential candidate Vivek Ramaswamy. The department’s acronym DOGE, coupled with Musk’s support for Doge and Trump’s promise of establishing the U.S. as the "crypto capital of the planet” during his campaign this year, are likely driving the rally.

Price Action: At the time of writing, DOGE was down 7.42% in the last 24 hours. However, the cryptocurrency has gained over 50% in the past week, according to Benzinga Pro data.

Read Next: Elizabeth Warren’s Sarcastic Take On DOGE’s Split Leadership Gets Slammed By Elon Musk: ‘Unlike You, Neither Of Us Are Being Paid’

Photo: Executium via Unsplash

The above is the detailed content of Analyst John-Burr Sees Dogecoin (DOGE/USD) Price Hitting the $3 Mark by Jan. 20 and Even Touching $20 in the Future. For more information, please follow other related articles on the PHP Chinese website!