**Dogecoin Price on Track to $1? Weekly Golden Cross Hints at Major Rally**
Dogecoin could be primed for a major rally toward the highly anticipated $1 mark, as it recently triggered a rare technical indicator known as the "Textbook Weekly Golden Cross." Crypto analyst Kevin, who identified the Golden Cross on Dogecoin's chart, suggests this bullish signal might pave the way for a substantial price surge.
### Golden Cross Sets $1 Target for Dogecoin
Dogecoin, the largest meme-based cryptocurrency, has just completed its first “Textbook Weekly Golden Cross” in four years. This rare event suggests a continuation of the recent bullish momentum, which could push the cryptocurrency even higher. According to Kevin, a Golden Cross occurs when the 50-day Simple Moving Average (SMA) crosses above the 200-day SMA. The 50 SMA reflects a short-term price average, while the 200 SMA captures a longer-term trend, making this crossover a strong indicator of upward momentum.
Kevin’s analysis implies that this Golden Cross could signal a potential rise for Dogecoin toward the $1 mark. Currently trading around $0.28, Dogecoin has shown steady growth, with Kevin identifying several bullish targets that go beyond $1.
At the 0.618 Fibonacci level, Dogecoin could rise to the 0.73838 level at around $0.80, and potentially move further to the 1.0866 level, between $0.95 and $1.1. Kevin also noted that the last time Dogecoin experienced a Weekly Golden Cross was in 2020, leading to a substantial rally. While short-term volatility or a slight dip is possible, Kevin urges investors to consider the potential for longer-term gains.
### Analyst Predicts Potential Dogecoin Rally to $4
Another crypto analyst, Milkybull Crypto, also highlighted the Golden Cross on Dogecoin’s weekly chart. Milkybull, however, envisions an even higher price target between $2 and $4. He suggests that Dogecoin has historically seen “life-changing rallies” following a Golden Cross, pointing to the potential for an extended rally in this cycle.
Currently, Dogecoin is trading at $0.28, marking a 23.24% increase in the past day and an 84.66% rise over the past week, according to CoinMarketCap. As the bullish signals mount, the meme coin could be gearing up for significant gains, possibly reaching new all-time highs.
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