Dogecoin’s $1 Dream: Is It Finally Within Reach?
As the cryptocurrency market kicks off the new year, one analyst is making a bold prediction: Dogecoin (DOGE) could finally hit the elusive $1 mark. Trader Tardigrade, a well-known cryptocurrency analyst, believes that the popular meme coin has entered a bullish period, making the $1 milestone a feasible target.
The Power of Three Pattern: Understanding Dogecoin’s Market Cycle
According to Trader Tardigrade, Dogecoin follows the “Power of Three” pattern, a structure consisting of three phases: accumulation, manipulation, and distribution. The analyst explains that the Accumulation Phase began in November 2024, following a significant price increase and a surge in investor optimism. This phase was marked by steady price hikes and a growing market cap.
From Accumulation to Distribution: Dogecoin’s Journey
The Accumulation Phase ended on December 17, giving way to the Manipulation Phase. During this period, Dogecoin’s price took a dip, losing around 25% of its value. However, Trader Tardigrade emphasizes that this phase was essential for the meme coin, as it prepared DOGE for the next phase: the Distribution Phase.
The Distribution Phase: A Bullish Outlook for Dogecoin
The Distribution Phase began in the first four days of 2025, with Dogecoin posting a 23.15% price increase. Trader Tardigrade believes that this phase will be marked by a significant price surge, potentially pushing DOGE to the $1 mark. To achieve this, the analyst predicts that Dogecoin needs a 157% price increase from its current price of $0.38961.
A Realistic Target?
While a 157% price increase may seem ambitious, Trader Tardigrade points out that Dogecoin has achieved similar feats in the past. In November 2024, the meme coin successfully pulled off a 160% price surge. Given this historical context, a 157% increase seems realistic.
What’s Next for Dogecoin?
As the cryptocurrency market continues to evolve, one thing is clear: Dogecoin’s $1 dream is within reach. With the Distribution Phase in full swing, investors are eagerly watching to see if DOGE can finally hit the elusive $1 mark. Will Dogecoin achieve this milestone, or will it fall short? Only time will tell.
Share your thoughts: Do you think Dogecoin will reach the $1 mark? Share your predictions in the comments below!
Source: Newsbtc.com
The post Dogecoin to Hit $1? Analyst Predicts 157% Surge appeared first on CoinBuzzFeed.
