Dogecoin (DOGE) Price to Reach $1 in the Coming Weeks: Analyst Predicts

The fourth Bitcoin (BTC) halving occurred on Saturday, ushering in a new era in the macro crypto bull cycle. With Bitcoin’s supply decreasing to 450 coins per day amid increasing demand from institutional investors, a new all-time high (ATH) is inevitably around the corner. Additionally, most of the altcoins had already shown bullish sentiment during the first quarter.

dogecoin rise

More investors are betting on Dogecoin (DOGE) this cycle as crypto bulls prove to be in control. The proof-of-work (PoW)-secured meme coin has seen a gradual increase in non-zero addresses, currently at around 7.3 million, according to on-chain data.

Notably, Dogecoin has unwavering support from tech billionaire Elon Musk and a family of unicorn companies led by the X social platform, Tesla Inc., and SpaceX Inc. As a result, Dogecoin remains in the top 10 most valuable digital assets, with a market valuation of approximately $23.22 billion and an average daily trading volume of approximately $1.34 billion.

Ali Martinez talks about mid-term DOGE price predictions

According to popular cryptocurrency analyst Ali Martinez, Dogecoin’s price is showing some signs of repeating past bullish cycles in the coming months. Martinez set a short-term target of $1 for the coming weeks, noting that DOGE price is nearing the end of its recent correction.

Also check out: Memecoin Mania: Here’s how a trader made $1.49 million in 2 days

Notably, DOGE price has been forming higher highs and higher lows on the weekly time frame, which is a classic feature of a rising market. The top meme coin was trading just above 16 cents after gaining about 10% over the past few days.

Related Article

0 Comments

Leave a Comment