Dogecoin Price Could Reach $1 By Year-End According to Analysts
The $1 target remains a key psychological level for Dogecoin as market participants anticipate its achievement during the current bull run. Analyst Dj Anas predicts this milestone may be reached by year-end based on Dogecoin’s Fibonacci levels.
Fibonacci Levels Indicate Potential for $1 Target
In a TradingView post, Dj Anas noted that Dogecoin's price is supported between $0.25 and $0.27, which could facilitate upward movement toward the $1 target.
Analyst Swallow Premium cautioned that Dogecoin must overcome multiple resistance levels to reach this target by year-end. Meanwhile, Master Kenobi, who accurately predicted the start of the Dogecoin bull run, also supports the $1 prediction, citing a 91-day sequence nearing completion that could trigger a price rally.
Master Kenobi highlighted that Dogecoin's all-time high slightly exceeds a $100 billion market cap, which could drive the price to $1. His analysis suggests DOGE could reach this price by December 2. He emphasized that achieving the $1 target would signify a significant milestone in Dogecoin's development as a credible asset.
Positive Outlook for DOGE Over Next Four Months
Crypto analyst Trader Tardigrade indicated that the upcoming months could be crucial for Dogecoin, noting it has surpassed its previous highest monthly close. Historical patterns suggest that similar occurrences led to substantial gains, including an 8,000% increase in four months during past cycles.
During the 2017 bull run, Dogecoin increased by 1,000% over eight months following such milestones. Current projections indicate potential prices of $3.6 with a 1,000% gain or $26 with an 8,000% gain, mirroring previous performances.
Currently, Dogecoin trades at approximately $0.36, reflecting a decline of over 12% in the last 24 hours, according to data from CoinMarketCap.
