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Dogecoin Eyes $1 After Recent Dip, Analyst Predicts Rally
Dogecoin (DOGE), the internet’s most beloved meme coin, experienced a sharp 13% drop last week, stirring jitters among investors. However, prominent crypto analyst Crypto Patel remains optimistic, suggesting the dip may set the stage for a significant breakout. Following two weeks of strong price movement, analysts are now eyeing a potential rally pushing Dogecoin toward the $1 mark.
Patel points to a clear bullish pattern on Dogecoin’s charts, characterized by higher highs and healthy pullbacks—a classic indicator that buyers maintain control despite short-term declines. Dogecoin has already surged approximately 700% from its initial entry point and is up 68% from a secondary re-entry zone, signaling the possibility of a fresh “pump wave” ahead.
A critical price level to watch is $0.22, which DOGE recently surpassed and successfully retested, establishing a firm support base for further gains. This technical strength, combined with Dogecoin’s vibrant and dedicated community, bolsters confidence in its upward momentum. Unlike many cryptocurrencies, Dogecoin’s passionate supporters play a vital role in sustaining interest and fueling price surges during bullish market phases.
Patel’s short-term targets stand at $0.5 and $1, with longer-term ambitions reaching $2 to $3 if the rally persists. This current setup echoes Dogecoin’s historic 2021 breakout, which led to a staggering 7,000% gain—though such explosive growth may not be replicated, the pattern is attracting considerable attention. For investors who missed the initial surge, this could represent a second chance to capitalize on the meme coin’s rise.
At present, Dogecoin trades around $0.2177, reflecting a slight 2% dip in the last 24 hours, as market watchers anticipate what could be a pivotal moment for the meme cryptocurrency.