Dogecoin (DOGE), unlike the rest of the market’s assets, barely recorded gains over the past month. At press time, the OG meme coin was trading at $0.1206.
The asset saw a 3.66% dip over the last 24 hours. While investors hope to record a surge, the asset has lagged. However, analyst Kevin highlighted the potential surge that DOGE could experience.
Also Read: Bitcoin (BTC) and Dogecoin (Doge) Price Prediction For August 2024
Analyst Predicts Potential Surge
Kevin stated in a recent post that the meme coin’s “real” bull run is far overdue.
According to the analyst, the monthly Relative Strength Index and Moving Average Convergence Divergence are far from reaching their macro goals.
He added that Dogecoin’s current price structure reflects past cycles monthly and further said:
“The real Dogecoin bull run has not even begun yet. Cycle top in Q1 of 2025 or earliest in December based off historical analysis.”
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Dogecoin Holders Continue to Rake In Profits
Despite its current losses, most DOGE holders were seen bagging gains. Data from IntoTheBlock indicates that a staggering 75% of DOGE holders are profitable at Dogecoin’s current price.
About 22% of the asset’s holders were drowning in losses. The fact that most of its holders have been avoiding losses at a time when the coin has barely surged comes as a significant surprise. This indicates that things are not as bad as they seem, which is a solid bullish indication.
If the asset surges as Kevin predicts, more holders will likely pocket more gains, and the percentage of DOGE holders in profit will undoubtedly rise.
Also Read: Dogecoin Gets Strong Buy Call: New Price Target $0.39
Dogecoin has had its ups and downs, but a big surge is still possible. Analysts like Kevin predict a promising future for DOGE holders.
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