$DOGE Price Prediction: $1 Target Still in Place - BeinCrypto Analytics

Recent data shows a spike in new Dogecoin (DOGE) investors, reviving hopes of a price rally reminiscent of the 2021 surge. Between September 23 and December 12, DOGE surged from $0.10 to $0.47. Could this growing investor interest ignite another breakout, or will it fizzle into a drawdown?

The DOGE/USD daily chart reveals a classic bull flag pattern—often a precursor to strong uptrends. This formation begins with a sharp price spike (the “flagpole”), followed by a consolidation phase with parallel trendlines forming the “flag.” Currently, DOGE appears poised for a breakout. A successful validation could push the price toward $0.60, and in an ultra-bullish case, even $1.

Still, the outlook isn’t without risks. A breakdown below the flag’s lower trendline or a decline in new investor numbers could see DOGE tumbling to $0.33.

Is this meme coin ready for another moonshot, or are the risks too great? Stay vigilant, as market sentiment will dictate the next move.