Dogecoin Prepares for a Major Price Rise – Why $1 is Still in Sight

Dogecoin has recently seen a strong recovery, pushing it above the resistance level of $0.23 over the weekend. This bullish move seems to have been sustained as buyers regained control of the market in the past week. Despite the notable rally that this meme coin has achieved recently, expectations remain that it will continue to rise higher, with cryptocurrency analysts predicting a explosive bullish run for this altcoin. The price of Dogecoin is still very bullish. The anonymous cryptocurrency analyst MMBTtrader on TradingView has outlined that the price of Dogecoin remains very bullish. The current bullish trend is expected to continue as Dogecoin has not yet encountered any significant resistance, thus putting it on a path to potentially double. As the cryptocurrency analyst points out, the price of Dogecoin may see a correction after its recent strong rise. However, this is expected to occur only in the short term and will actually fuel the bullish phase and serve as a rebound point for subsequent bullish runs. This correction may happen just below $0.25. However, the analyst indicates that with Dogecoin's price rising so strongly, there is a likelihood that the price will rise above this level before the correction occurs. Currently, the only thing holding back the price of Dogecoin is the trend line drawn in red on the analyst's chart. This is a crucial point for this meme coin and breaking above this level is expected to push the price forward. In this case, the cryptocurrency analyst expects the price to rise as high as $0.4. Additionally, they added that if it breaks above $0.4, it will signal an extremely bullish market, pushing the price of Dogecoin up to $0.75 and then to $1.

On the other hand, however, failing to break through the trend line may signal the beginning of bearish pressure. As the chart shows, the first bearish stop will be $0.13548. The subsequent downtrend could cause it to drop below $0.1 to $0.09024. DOGE Aiming for 1 Dollar Another cryptocurrency analyst has also suggested that the price of Dogecoin could target 1 dollar. They explained that after a strong bounce to the support level of 0.14 dollars, Dogecoin is currently showing signs of a bullish reversal on the weekly timeframe. This creates a broader network for the price targets of the meme coin as the uptrend unfolds.

From here, the cryptocurrency analyst explains that if the price of Dogecoin can hold steady, then the next main target is 1 dollar. However, for this to happen, confirmation of volume and how the price behaves in the coming weeks is very important. The analyst said "DOGE may just be preparing for another historic bullish run."