Dogecoin Accumulation Draws To An End, Why DOGE Price Can Reach $1

Crypto analyst Mikybull Crypto has laid out a bullish narrative for the foremost meme coin, Dogecoin (DOGE). Based on his analysis, DOGE is bound to breach its all-time high (ATH) on its way to unprecedented heights in this bull run.

Time For Dogecoin To Run To $1

Mikybull Crypto revealed in an X (formerly Twitter) post that DOGE has already broken out of its accumulation phase and is currently on a retest before making a parabolic move to the upside. He hinted that DOGE could rise to as high as $1 when this move occurs, as he labeled that price level a “magnet target.”

When one of his followers quizzed whether DOGE hitting $1 in 2025 should be expected, Mikybull responded that he believes this price target will be attained this year. The crypto analyst had first hinted at a massive price surge for DOGE in an earlier X post where he boldly claimed that DOGE’s next move would be “explosive.” He made this statement while revealing that DOGE had achieved a monthly close, which flipped bullish for the first time since 2021.  

Mikybull isn’t the only crypto analyst who has predicted that DOGE could rise to $1 in this market cycle. Crypto analyst DonAlt previously mentioned that “it isn’t too unlikely for Dogecoin to go to $1.” He also suggested that DOGE was a better investment than Bitcoin, especially if the meme coin eventually hits the $1 price level.

Besides these predictions, there is also a general feeling of optimism among members of the DOGE community that the meme coin can indeed rise to such heights. This belief is further strengthened by the fact that meme coins are one of the leading narratives for this market cycle. As such, new liquidity is expected to flow into DOGE’s ecosystem. 

Dogecoin Could Rise To $1 Eventually 

Crypto analyst Altcoin Sherpa recently stated that DOGE could do “something silly like go to $1 this cycle eventually.” Altcoin Sherpa had previously remarked that the foremost meme coin still has a lot of firepower and alluded to Elon Musk’s support for it as one of the factors that could drive its price to $1.

The crypto analyst sounded uncertain about when this move could happen, stating that it could be now or six months from now. Meanwhile, just like he warned previously, he once again mentioned in his recent X post that DOGE is unlikely to make the same gains as the one in the last bull run because of its market cap. 

At the time of writing, DOGE is trading at around $0.18, down in the last 24 hours, according to data from CoinMarketCap. 

DOGE price struggles to break $0.19 | Source: DOGEUSDT on Tradingview.com

Featured image from LinkedIn, chart from Tradingview.com