Dogecoin is still in the top 10, but is it the best meme coin to bet on this cycle? Here's Lark's view:
-
Lagging behind: Other major coins like Solana and BNB have hit new highs. Doge hasn't come close to its 2021 peak of $0.74.
-
2021 was a one-off; Back then, Doge had no real competition and got a huge boost from Elon Musk. That mix isn’t here anymore.
-
Hard to chart: Doge blew past normal price patterns in 2021, so typical tools like Fibonacci levels aren’t very useful now.
-
Bitcoin is beating it: Since early 2023, Bitcoin is up 479% - Doge is only up 252%. If that continues, Doge may only reach $0.31 even if Bitcoin hits $200K.
-
Possible targets if it pumps
Key Highlights:-
$1.00 - 4x from here
-
$1.55 - 6x
-
$2.56 - 11x (unlikely)
-
Too much competition: Lark thinks newer meme coins like Pepe and Bonk offer better upside. Traders chasing big returns are looking elsewhere. Doge might get a short-term boost - maybe from an ETF or renewed hype - but it's unlikely to relive its 2021 run.
