So far, the $1 target has been a psychological level that market participants expect the Dogecoin price to reach in this bull run. Based on Dogecoin’s Fibonacci levels, crypto analyst Dj Anas has predicted that the foremost meme coin could even reach this target by year-end. In a TradingView post, crypto analyst Dj Anas cited Dogecoin’s Fibonacci levels as the basis for his prediction, suggesting that Dogecoin is experiencing a solid push on the support-resistance line between $0.25 and $0.27, which could serve as a robust foundation for its upward movement towards the $1 target.
Crypto analyst Swallow Premium responded to the post, warning that Dogecoin would need to overcome numerous resistance levels to reach this ambitious target by year-end. Meanwhile, like Dj Anas, crypto analyst Master Kenobi, who had accurately predicted the start of the current Dogecoin bull run, also suggested that Dogecoin could reach $1 by year-end. He revealed that Dogecoin was less than 30 days away from completing a 91-day cycle, which might culminate in a price rally to $1. Master Kenobi elaborated that Dogecoin’s current all-time high (ATH) is already marginally above the psychological milestone of a $100 billion market cap, which could further drive its price toward the $1 mark. The chart he shared pointed to December 2 as a possible date for this achievement. According to Master Kenobi, reaching $1 would not only be a significant psychological breakthrough but also a critical benchmark that underscores Dogecoin’s potential, marking a new stage in its maturity and solidifying its position as a noteworthy asset.
In an X post, crypto analyst Trader Tardigrade projected that the next four months could be momentous for Dogecoin. He noted that Dogecoin had just surpassed its previous highest monthly close level, an event that historically led to substantial price increases. He pointed out that during the 2017 bull run, a similar situation resulted in a 1,000% increase over eight months. In 2021, this event precipitated an 8,000% surge within just four months. Tardigrade’s accompanying chart suggested that, if Dogecoin mirrors these past performances, its price could soar to $3.6 if it mirrors the 1,000% gain and surge to $26 if it repeats the 8,000% gain.
At the time of writing, Dogecoin is trading around $0.36, down over 12% in the last 24 hours, according to data from CoinMarketCap.
