Top market experts predict that the price of Dogecoin may rise to $0.6, and then in the coming days, DOGE could reach a target of $1.05.
The price of Dogecoin has seen a strong rise in the past few days, indicating that the market has full confidence in this meme coin. However, the momentum of Dogecoin has recently stalled, sparking widespread discussion among investors about the next move for the coin. Additionally, this has raised concerns among some about a decrease in investors' risk appetite. Can Dogecoin's price reach $1.05?
Dogecoin's recent price surge has once again become the focus of the market, attracting a large number of investors' attention. However, as the price experiences some degree of pullback, market sentiment has also become divided, with some investors choosing to take profits, raising concerns about its subsequent trends.
Nevertheless, the market remains optimistic about the future of Dogecoin. The popularity of the top meme coin and its strong community support make it still attractive after market corrections. Cryptocurrency market expert Kevin (@Kev_Capital_TA) predicted in a recent analysis that the price of Dogecoin could rise to $0.93, or even break through to the $1.05 level. This bullish expectation has boosted investors' confidence, indicating that Dogecoin still has significant growth potential in the future.
Overall, the short-term fluctuations of Dogecoin may be a healthy price adjustment, but the long-term trend could still be upward and is worth continuous attention.
The overall performance of the cryptocurrency market, especially in the meme coin sector, indicates that investors' focus is shifting towards high-risk assets. The recent market rebound coincided with Donald Trump's victory in the U.S. election, injecting more confidence into the cryptocurrency market, especially with heightened expectations for a supportive regulatory environment for cryptocurrencies in the U.S.
Generally speaking, digital assets tend to perform well in the last quarter of each year, and this year's trend seems no exception. Meanwhile, Elon Musk's recent mysterious post about Dogecoin has also attracted traders' attention, further boosting market sentiment. Given these factors, the market widely expects the cryptocurrency bull market cycle to continue in the coming days, which could soon push Dogecoin to new historical highs.
What’s next for DOGE?
The sustained rise in the price of Dogecoin is not without challenges. At the time of writing, Dogecoin's price has fallen nearly 5%, trading at $0.4339, while the daily trading volume has also decreased by 27%, down to $7 billion. However, the token had previously reached a high of $0.4835 in the past 24 hours and has risen by 107% over the past 30 days.
Meanwhile, many market experts believe that as the price of Dogecoin rises, there may be short-term or slight corrections. Whenever asset prices fall, many investors often choose to sell part of their holdings to realize profits. As a reference, market analyst Kevin stated that if the price of Dogecoin reaches the range of $0.93 to $1.05, he would consider selling 25% to 30% of his Dogecoin holdings.
Expert predictions
Nevertheless, experts remain optimistic about the long-term potential of Dogecoin. Popular cryptocurrency market expert MadWhale stated in a recent TradingView analysis that the price of Dogecoin will soon reach $0.62. However, he also warned investors that a 'short-term bearish correction' might occur during the upward trend.
Another top expert, Ali Martinez, also shared his prediction for Dogecoin, believing that this cryptocurrency will soon reach $2.40. Additionally, Martinez noted that in the long run, Dogecoin could rebound to the $18 mark, further fueling market optimism.
Another market analyst, Captain Faibik, expressed a similar bullish view in a recent post on X and shared his predictions. According to his analysis, the price of Dogecoin is expected to reach $0.66 in the coming days. Meanwhile, a recent price analysis of DOGE also suggests that this meme coin may rebound to $1, similar to the trends of 2021. Combining the analyses of experts, DOGE may break through $0.6 in the coming days and eventually rebound to the $1.05 mark.
