The DOGE price is relatively seen stable over the past few hours, currently trading above the crucial $0.15 mark. Though Dogecoin has recovered from the last week’s downtrend, the meme coin has failed to show significant movements over the past 24 hours.
However, analysts and exerts remain confident about Dogecoin’s future trends. Market experts like STEPH IS CRYPTO believe that the meme coin will hit $1 in the near future.
Dogecoin Price To Hit $1; Know More
Over the past few days, DOGE has been showing a negative trend, with its price slipping to a low of $0.1515 from a weekly high of $0.1685. Though Dogecoin’s price recently broke the $0.154 mark, it’s been steady over the past day with no significant fluctuations.
Amidst this stagnant market, analyst STEPH IS CRYPTO predicted DOGE’s potential rally to the significant $1. Identifying a key support level, the analyst suggested the meme coin is poised for a bullish reversal now that it has broken past this support. The analyst shared an X post in which he wrote, “$DOGE will teleport to $1.00.”
In his previous X post, STEPH IS CRYPTO forecasted Dogecoin’s potential resurgence to $2, sparking traders’ enthusiasm. As of press time, Dogecoin is valued at $0.1548, marking a marginal dip of 1.5%. Over the past week and month, the meme coin experienced declines of 1.3% and 7.5%, respectively.
What is Dogecoin’s 93-Day Bull Run?
According to crypto analyst Trader Tardigrade, Dogecoin is set for a 93-day bull run. Historical data indicates that Dogecoin’s price action tends to cycle through a pattern of 159 days of bearish trend, followed by a 93-day period of bullish momentum.
Source: X, Trader Tardigrade
With current market conditions showing signs of consolidation, traders are eyeing a potential breakout. If historical trends repeat, Dogecoin could see significant gains over the next 93 days.
Institutional Interest Grows: What Does It Mean for DOGE Price?
Significantly, DOGE is now considered as a feasible method of payment by many Wall Street firms like Tesla, AMC Theatres, and Newegg. Asset manager 21Shares attributes this increased adoption of Dogecoin to its fast block processing time and low transaction fees, making it an attractive option for small payments and tipping.
Interestingly, this growing acceptance of Dogecoin as a payment method has sparked optimism about the meme coin’s potential price impact. As more institutions adopt DOGE, increased demand could drive its value to new heights. According to CoinGape’s Dogecoin price prediction, the meme coin could reach up to $0.1824687 in 2025.
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