2024

Bitcoin

Dogecoin

when

Popular crypto analyst Ali Martinez has predicted a $1 Dogecoin price could become a reality in less than a month. Ali made this prediction known on social media platform X, calling on history as a guide.&nbsp; 
Doge is currently undergoing <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-accumulation-doge-millionaires-76/" rel="nofollow noopener" target="_blank">exceptional bullish price action</a> and many analysts expect this to continue into the coming months. As a result, DOGE reached the $0.2 level for the first time since November 2021. This price increase has sparked renewed interest and speculation among investors about when the crypto might finally hit the much-coveted $1 mark.&nbsp; 
<h2 id="b-dogecoin-to-reach-1-this-cycle-b">Dogecoin To Reach $1 This Cycle</h2> 
Dogecoin <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-100-crypto-analyst/" rel="nofollow noopener" target="_blank">has grown exponentially</a> from its early days as a <a href="https://bitcoinist.com/dogecoin-too-much-firepower/">joke currency</a> and the first meme coin in the crypto industry. At the time of writing, DOGE boasts a market cap of $25.28 billion and has always retained the crown of the largest meme cryptocurrency. 
Despite its <a href="https://bitcoinist.com/is-dogecoin-the-new-millionaire-maker/">huge following</a> and strong price growth over the years, DOGE has always eluded the $1 price level, although largely due to its huge circulating supply. However, some analysts have predicted this could change very soon and we could see DOGE registering a new all-time high very soon. 
<img loading="lazy" decoding="async" class="aligncenter size-full" src="https://www.tradingview.com/x/CNj3nJmg/" width="2475" height="1163"> 
According to a weekly DOGE price chart shared by Martinez, the crypto is currently undergoing a pattern that has historically led to price surges. To be precise, recent price action shows DOGE has broken out of a parallel channel that has lingered since 2022. Interestingly, the breakout from a price channel resembles that of previous breakouts in 2017 and 2021. 
<blockquote class="twitter-tweet"> 
 This may sound wild, but if history is any guide, <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Dogecoin</a> $DOGE could hit $1 by mid-April! <a href="https://t.co/UAgldPcDbh" rel="nofollow" target="_blank">pic.twitter.com/UAgldPcDbh</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1766039677608296715?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">March 8, 2024</a>
</blockquote> 
The first time DOGE broke out of a similar parallel channel in 2017, it went on a 5,730% price surge from $0.0003 to register an all-time high of $0.01758. DOGE went on a similar price channel in 2019 before breaking out in 2021. After breaking out, the meme coin went on a 24,000% surge to reach its current all-time high of $0.7316. 
If history were to repeat itself, DOGE’s recent breakout from consolidation on the weekly chart would see the crypto surging to the $1 mark by mid-April. With DOGE currently trading at $0.1765, a leap to $1 would represent a 470% increase from the current price level.&nbsp; 
<h2 id="b-what-s-next-for-dogecoin-b">What’s Next For Dogecoin?</h2> 
Martinez isn’t the only popular analyst predicting a $1 DOGE price. <a href="https://x.com/CryptoKaleo/status/1766166354996957532?s=20" rel="nofollow" target="_blank">According </a>to crypto analyst KALEO, the possibility of DOGE spiking to $1 this cycle is not merely speculative.&nbsp;&nbsp; 
<a href="https://app.intotheblock.com/coin/DOGE" rel="nofollow noopener" target="_blank">Data from IntoTheBlock</a> indicates DOGE has a strong 0.97 correlation with Bitcoin, meaning its price movement is strongly influenced by sentiment around Bitcoin. Bitcoin is set to keep surging <a href="https://www.newsbtc.com/breaking-news-ticker/breaking-bitcoin-hits-new-all-time-high-surging-past-70000-for-the-first-time-in-history/" rel="nofollow noopener" target="_blank">to new all-time highs</a>, which could also mean a continued price increase for <a href="https://www.newsbtc.com/altcoin/dogecoin-shiba-inu-pepe-explode/" rel="nofollow noopener" target="_blank">DOGE</a>. 
At the time of writing, DOGE is trading at $0.1765, up by 116% in the past 30 days. 
Featured image from Natasha Chebanoo/Pexels, chart from TradingView

Crypto Analyst Predicts When Dogecoin Price Will Reach $1

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