CoinCodex’s machine-learning algorithm has predicted when the Dogecoin price could hit the psychological $1 level. Interestingly, based on the prediction, market participants won’t must wait too long before they see the foremost meme coin reach this price level.
When The Dogecoin Price Will Hit $1
The machine learning algorithm predicted that the Dogecoin price would hit the $1 goal by March this 12 months. Specifically, the algorithm predicted that the foremost meme coin could rally to as high as $1.04 by March. DOGE can be expected to further rally to $1.11 by April, representing an increase of around 200% from its current price level.
The platform noted that the sentiment around Dogecoin price is currently bullish, although the fear and greed index is currently at 75, which indicates greed. Despite the bullish sentiment, the machine-learning algorithm predicts that Dogecoin could proceed to range around its current price level for the rest of this month.
Just like the machine learning algorithm, crypto analysts corresponding to Master Kenobi have also predicted that the Dogecoin price could soon reach the much-anticipated $1 goal. Master Kenobi recently highlighted Donald Trump’s inauguration as a catalyst for the parabolic surge to this price level.
Trump will take office on January 20, which is bullish for the Dogecoin price due to his pro-crypto stance. Elon Musk’s Department of Government Efficiency (D.O.G.E) can even come to life, which is bullish for the foremost meme coin due to similarity with its ticker ‘DOGE.’
Crypto analyst Trader Tardigrade also recently predicted that the Dogecoin price rally to $1 is imminent. The analyst predicted that DOGE could hit this price level as early as March. Galaxy Research also predicted that the rally to $1 will occur this 12 months.
What To Expect From DOGE
Crypto analyst KrissPax has provided insights into what to anticipate from the Dogecoin price in the approaching days. In an X post, he stated that Dogecoin is about to interrupt out of a downward channel. The analyst remarked that the foremost meme coin would most definitely trade as much as $40, retrace back to check the previous resistance, confirm it as support, after which move higher.
However, crypto analyst Kevin Capital has warned market participants in regards to the current Dogecoin price motion. He revealed that the foremost meme coin is testing the highest of its falling channel and told them to watch out about FOMOing into the coin at its current price level. Kelvin explained that it could take some effort and time for DOGE to interrupt these levels.
On the time of writing, the Dogecoin price is trading at around $0.37, up over 3% within the last 24 hours, in response to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com