Is Dogecoin Ready To Reach The $1 Milestone? Analysts with interesting DOGE price predictions

TL;DR

Despite Dogecoin’s recent decline to around $0.15, numerous analysts are predicting a significant price increase, with one predicting a 7x increase above $1. Ali Martinez sees key resistance between $0.166 and $0.171, suggesting a potential rally to $0.32 if broken. DOGE Bull Run in the Making?

The largest meme coin in terms of market cap, Dogecoin (DOGE), saw a significant resurgence in March of this year, with its price rising to $0.22. Since then, however, it has fallen, currently hovering around $0.15 (according to CoinGecko data).

Price DOGE, Source: CoinGecko

The negative performance of late appears to be of no concern to several analysts who have outlined bullish price predictions.

X Mags user stated that DOGE has recently escaped its accumulation phase, entering a “parabola” stage. The trader predicted a 7x increase in the following months, meaning a price above $1 for a single coin. Mags based the forecast on Dogecoin’s historical performance, showing that an even more impressive peak occurred shortly after the build-up phase in 2020.

Altcoin Sherpa also weighed in on the matter, expecting DOGE to “do something stupid later this year, and there’s nothing you can do about it.” The analyst argued that dealing with the meme currency is one of the “safest exchanges” during the next cycle of touches.

KALEO, an X user with over 600,000 followers, also envisioned a bright future for Dogecoin. He predicted that the meme currency could even surpass Bitcoin (BTC) due to the assumption that the industry is in a “meme super cycle”.

Previous forecasts

Ali Martinez claimed last week that DOGE is facing “significant resistance” between $0.166 and $0.171, where 75,000 addresses have accumulated approximately 10 billion in assets. He believes there is price expansion towards $0.32 once “this barrier is broken”.

The Crypto Dog and Nebraskangooner were also upbeat. The former predicted “exciting days ahead”, adding that DOGE has the potential to outperform BTC.

Nebraskangooner predicted “meme bomb action coming soon” as long as DOGE remains above the major resistance zone at about $0.16. However, the asset has been trading below the represented mark for the past few hours.

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