So far, the $1 target has been the psychological level that market participants expect Dogecoin price to reach during this bull run. Based on Dogecoin's Fibonacci levels, crypto analyst Dj Anas has predicted that the top meme coin could even reach this target by the end of the year.

Fibonacci Levels Show Dogecoin Price Could Hit $1 By Year-End

In a TradingView post, cryptocurrency analyst Dj Anas cited Dogecoin's Fibonacci levels as the reason why he believes the price could hit $1 by the end of the year. Based on the Fibonacci levels, the analyst commented that Dogecoin is seeing a strong push above the support-resistance line between $0.25 and $0.27, which could serve as a solid foundation for a move up to a $1 target.

Cryptocurrency analyst Swallow Premium responded to the post and warned that Dogecoin price will have to break several resistance levels first if it wants to reach this target by the end of the year.

Meanwhile, like Dj Anas, crypto analyst Master Kenobi, who accurately predicted the start of the Dogecoin bull run, has also suggested that the Dogecoin price could hit $1 by the end of the year. This comes as he revealed that Dogecoin is less than 30 days away from completing a 91-day streak that could lead to a $1 rally.

Master Kenobi further explained that Dogecoin’s current all-time high (ATH) is slightly above the psychological threshold of a $100 billion market capitalization, which could push Dogecoin’s price to this target. The accompanying chart he shared shows that DOGE could hit $1 by December 2.

Master Kenobi said that the $1 target for Dogecoin price is not only an important psychological threshold but also a benchmark that validates DOGE's potential. He added that reaching $1 would mark a new stage in the meme coin's maturation and cement its position as an asset with long-term impact.

The Next Four Months Could Be Great for DOGE

In a post on X, crypto analyst Trader Tardigrade suggested that the next four months could be huge for the price of Dogecoin. This comes as he revealed that Dogecoin has just surpassed its previous monthly high. The last time this happened, Dogecoin's price recorded an 8,000% increase in just four months.

Meanwhile, during the 2017 bull run, when this happened, the price of DOGE increased by 1,000% in eight months. Therefore, Dogecoin could see another parabolic rally, similar to 2017 and 2021. The analyst's accompanying chart shows that the price of Dogecoin could rise to $3.60 if it reflects a 1,000% increase from 2017, and rise to $26 if it reflects an 8,000% increase from 2021.