Dogecoin’s Third And Final Leap? Analyst Highlights Potential Mid-August Peak

Like many other cryptocurrencies, Dogecoin’s price action in the past week has been highlighted by a notable correction. Dogecoin, in particular, saw its price break below $0.3 for the first time in four weeks, leading to a bottom below $0.27.

According to an interesting take by crypto analyst Master Kenobi, Dogecoin could continue on a gradual decline in the next few months before another strong move upwards.

Interesting Outlook For Dogecoin Price

Although Dogecoin has recovered above the $0.3 mark at the time of writing, Master Kenobi recently teased the possibility of the leading meme coin to continue on a gradual decline in the short term. Sharing his thoughts on the social media platform X, the analyst outlined a potential roadmap for DOGE, predicting a period of decline followed by an explosive rally.

“What if DOGE…is gearing up for its third and final leap in such a scenario?” Kenobi speculated.

According to his observation, the cryptocurrency might experience a gradual drop in value until mid-April, culminating around April 15. In terms of a price target, this decline could see the Dogecoin price falling to as low as $0.175, which would essentially erase most of its gains in the past two months or so.

Following this decline, the analyst suggested, Dogecoin could embark on a strong upward trajectory starting May 5, with the rally potentially peaking in mid-August. This rally is predicted to be highlighted by a break into new all-time highs above the current one of $0.74, with an eventual peak above $1 by August 18.