Crypto analyst Master Kenobi has provided a bullish update for the Dogecoin price, predicting that the foremost meme coin can reach as high as $2.8. In his update, the analyst also explained why Dogecoin’s outlook is still bullish. 

Dogecoin Price To $2.8 And Why It Can Happen

In his DOGE update, Master Kenobi shared an accompanying chart that showed that the Dogecoin price could rally to $2.8 in this market cycle. The analyst further explained why Dogecoin’s outlook looks this bullish. First, he alluded to the “zoom-out” perspective, which remains bullish, although the time frame might shift slightly to align more closely with a potential decline in Bitcoin dominance. 

While analyzing the chart, Master Kenobi said that the Dogecoin price may currently be equivalent to January 4th, 2021, in the 2021 bull run. If that is the case, the analyst stated there might be a period of volatility. He revealed something similar happened during the last cycle when the price dropped by 55% over two red weeks. 

Master Kenobi again touched on the 91-day sequence, which he reaffirmed remains valid. He added this sequence will conclude on December 9th. If that doesn’t happen, the analyst stated that the window for the sequence to end will be between December 9th and December 23rd, 2024. 

Based on the trend from the previous cycle, Master Kenobi predicts that the Dogecoin price could reach this $2.8 target between December 9th and December 23rd. However, he remarked that he was still staying grounded as he couldn’t imagine what fundamentals could trigger such a massive move. 

Meanwhile,

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Author: Scott Matherson