Dogecoin has dropped massively on all timeframes but is showing signs of recovery.
Analyst Alan Santana just predicted a massive 25,000% rally for the memecoin, to up to $2.55 by 2025.
Santana advises accumulating between $0.053 and $0.065 for max gains.
Dogecoin, however, will face several resistance levels on its way to $2.55, including $0.14, $0.23, and $0.38.
Dogecoin has been through massive volatility over the last week, especially considering the general market slump from last week and early on in this one.
In the last ten days, the memecoin's value has dropped by 25%, hitting a low of around $0.082.
However, while many analysts expected prices to continue declining, the memecoin is now showing signs of attempting a break above the psychological $0.1 resistance.
Despite the downturn, an analyst believes that a massive opportunity is brewing, and Dogecoin will soon be ready to hit not $1 or even $2 but $2.55.
Here's how this will happen and when.
Alan Santana, a well-known analyst on Twitter, is especially interested in Dogecoin's future.
Earlier in the week, Santana posited that Dogecoin is on track towards a massive rally that might take it as high as $2.55 by 2025.
For context as to how massive this is, Santana is predicting that Dogecoin will rally by more than 25x, or 25,000%, to anywhere from $1.85 to $2.55 between now and the end of 2025.
The analyst made this prediction in a lengthy and detailed Twitter post, noting that Dogecoin is gearing up for a crucial accumulation zone for Dogecoin.
This zone lies between $0.053 and $0.065 and is one of the best places to scoop up cryptocurrency for investors interested in capitalizing on the incoming bull market.
Santana advises investors to accumulate within this zone from now until the end of 2024 for the biggest gains come 2025.
Even though the best zones to buy from are between $0.053 and $0.065, Santana says that the lower boundary of this level is set at $0.0489, which is an unlikely but possible low.
If Dogecoin were ever to hit this price level, it would have a solid foundation from which to rebound, and investors who enter from here would be the most well-positioned to benefit from the price spike.
So, what about the resistance levels?
Naturally, Dogecoin's price increase to $2.55 isn't going to be a straight road. However, on its journey, several key resistances will need to be overcome, the first of which is $0.14.
Dogecoin will be set to encounter significant pressure from here, and many investors will sell.
However, if we see a breakout, the next include:
$0.23
$0.38
$0.39, and
$0.47
Soon after these levels, we can expect resistance at around $0.7396 (the previous all-time high).
Massive 25,000% increase
Many investors who bought close to the top would be looking to break even from here, and Dogecoin will likely dip slightly.
However, after this level, the significant resistances include:
$1.00,
$1.85 and
$2.55.
Santana also advised investors to set manual sell targets significantly above buying prices instead of using traditional stop-loss orders for advanced risk protection.
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