•Dogecoin (DOGE), the largest dog meme coin, has continued its losses recently. After its value decreased by more than 15% last month. DOGE price managed to rise in the last week. The uptrend can be attributed to the approval of 11 spot Bitcoin ETFs which has sent altcoin prices soaring.

•Moreover, Elon Musk expressed his strong support for Dogecoin recently. Which boosted confidence in the DOGE community. In addition, one cryptocurrency analyst made a bold and promising prediction regarding the price of Dogecoin amid the extremely volatile sessions. The meme coin is expected to recover to the $0.1 level and could rise even higher.

•Why does the analyst expect DOGE to reach $0.1? Ali Martinez, a cryptocurrency analyst with over 40k followers on X., noted that Dogecoin’s TD sequence indicates a “buy” signal on the 3-day chart. He added that as long as DOGE holds the $0.074 support group, there are high chances of it rebounding to $0.1 or higher.

•According to a post on X by ChartAI Bot. It is a provider of automated technical analysis for cryptocurrencies. The Dogecoin resistance level is $0.088. Moreover, World Of Charts pointed out. Another cryptocurrency analyst on X, noted that if DOGE breaks this level. Its price may rise by 45% to 50%. This implies a higher goal than Martinez provided.

•World Of Crypto is eyeing a minimum target of $0.1276 after the breakout. Although the goal is higher than Martinez's. However, it is in line with the latter’s expectations of a “higher” rise after reaching the $0.1 mark. Additionally, analysts expect Elon Musk's recent statement to serve as a catalyst for Dogecoin's bullish rally.

•At a recent X Space event, Musk reaffirmed his unwavering support for Dogecoin by saying that he still holds a large amount of DOGE. Musk has great influence around the world. Therefore, such a statement from him is expected to raise the value of Dogecoin, considering its historical impact. Earlier, in 2021, after Musk endorsed DOGE. The cryptocurrency reached an all-time high of $0.7376.

$DOGE

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