Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target

A prominent analyst known as “Mags” has made a bold prediction for the meme-inspired digital asset, Dogecoin (DOGE). Mags, whose X handle is @thescalpingpro, has gained a reputation for accurately calling significant price movements in the past, including Dogecoin’s 170x price surge during the previous market cycle.

According to Mags’ tweet, Dogecoin is poised to embark on another parabolic rally. The analyst confidently stated, “$DOGE about to go parabolic,” drawing attention to their previous successful call and potential for substantial gains in the current market cycle.

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Strategic Accumulation and Price Target

Mags revealed that they have been strategically accumulating Dogecoin over the past few months, amassing a substantial holding in anticipation of the projected price surge. With their “bags loaded,” the analyst expressed confidence in a 7x return, setting their sights on a ambitious price target of $1 or higher for the meme cryptocurrency.

Dogecoin, which started as a light-hearted parody of the cryptocurrency craze, has defied expectations time and again. Its meteoric rise during the previous market cycle caught many investors by surprise, as the digital asset surged to unprecedented heights, fueled by a dedicated community and widespread social media attention.

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While Mags’ prediction has generated excitement among Dogecoin enthusiasts, it is important to approach such forecasts with cautious optimism as past performance is not indicative of future returns in trading.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.