Analysts continue to dish out positive outlooks on Dogecoin (DOGE), and the price targets are becoming more ambitious.

In the latest instance, one analyst appears to have increased his Dogecoin target by tenfold for the 2025 bull run.

Dogecoin (DOGE) to Surpass $20?

Prominent crypto analyst Javon Marks has asserted that Dogecoin (DOGE) could surge above the $20 price point in the current bull cycle.

The analyst stressed this in a recent X post, arguing that the doggy-themed meme coin’s bull market performances have been progressively larger, and the recent cycle appears to be towing the same path.

Marks shared a chart highlighting that DOGE’s price saw a 90 times increase in the 2017 bull run and a 306 times increase in 2021.

Accordingly, the analyst anticipates that this pattern will continue with the rally that began in late 2024 with a target above the $20 mark.

The latest projection from Marks represents a staggering tenfold increase from his earlier target of $2.28 for DOGE, based on the asset’s price performance in previous bull cycles per the Fibonacci expansion tool.

As highlighted by the analyst, DOGE has typically rallied from the bottom to above the 1.618 Fibonacci level in previous cycles.

Critics Contest Dogecoin $20 Prediction

Unsurprisingly, Mark’s most recent prediction has stirred some doubts. For DOGE to hit the $20 price point with its current circulating supply of 147.3 billion coins, it would hit a market cap of $3 trillion.

For context, this is more than the market capitalization of market leaders Bitcoin and Ethereum combined. At the same time, DOGE presently boasts a market cap of $45.8 billion.

Still, Marks has insisted that the high price target is what the data suggests in response to critics.