In this article, we will discuss the bold prediction made by crypto expert and trader, Master Kenobi, regarding Dogecoin and its potential short-term rally. In addition, we will touch on the current decline in DOGE holders as reported by market intelligence firm, Santiment. Master Kenobi has shared his insightful potential scenario for Dogecoin, predicting that DOGE could hit $2.7 by December.
This bullish breakout in the upcoming days is based on past cycle trends, which preceded massive rallies over time, along with current price performances. According to Master Kenobi, DOGE continues to move in the same direction as the last cycle, which began the last bull run with four green weeks followed by two red weeks.
The close of the week will determine whether the pattern will persist, validating another major move on the upside. Should this pattern repeat itself, Kenobi claims Dogecoin might hit the green line indicated in his chart, positioned at roughly $0.39 in about two weeks, particularly on October 28. Furthermore, after an additional five weeks, around December 1, the same corner might approach the orange line, set at $2.7.
“I know it sounds incredible, but nothing stops me from imagining, if it happens, we could see DOGE at $2.7 in December,” he stated. However, investors might be pessimistic about Dogecoin as the number of DOGE holders has been decreasing steadily in the past few days. According to data from market intelligence Santiment, the decline began on October 8.
During this time, the platform noted that a total of 106,600 non-empty DOGE wallets have been lost, indicating possible struggles for the meme coin. Santiment also added that due to dissatisfaction with the performance of DOGE, traders have been turning elsewhere for fast pumps, which suggests a shift in sentiment within the Dogecoin community.
Thus far, this negative trend has caused speculations about the stability of DOGE in the long term since such developments could influence future price movements should the trend persist. Dogecoin is currently trading at $0.12 on the 1D chart, and the future of the meme coin remains uncertain. However, enthusiasts are keeping their hopes high as they watch DOGE’s renewed price performance in hopes that the newfound momentum would trigger a much larger rally to unprecedented levels in the ongoing bull cycle.
