Dogecoin (DOGE) is creating excitement in the crypto world as it remains a favorite among retail traders. Recently, actions from large investors, have raised hopes for a big price increase. Meanwhile, top crypto analysts believe & current market indicators believe Dogecoin could reach $0.37 in the short term and even touch $1 in the long run.
Over the past week, Dogecoin has seen an impressive 22% increase, with its 24-hour trading volume soaring to $1.9 billion, a jump of 35%. Meanwhile, Dogecoin is trading around $0.14, reflecting an increase of about 3% in the last 24 hours.
A significant indicator of Dogecoinâs potential is its holder profitability, which recently reached a four-month high. Currently, 81% of all circulating DOGE is in profit, a situation not seen since July 7, 2024.
Interestingly, short-term holders (those who have held for 30 days) have now surpassed long-term holders (those who have held for 365 days) in terms of profit, indicating a possible strategy shift to lock in gains.
*Long-Term Potential for Dogecoin*
In addition to the positive short-term outlook, analysts are also optimistic about Dogecoinâs future. A notable crypto trader Crow recently compared Dogecoin to Bitcoin, suggesting that it could eventually break the $1 mark.
