Is Dogecoin going to 'the moon'? The hot topic returns in the recovery of the market, as the cryptocurrency market strengthens overall, Dogecoin (DOGE) has once again become the focus of market attention. Ethereum's recent gains have surpassed Bitcoin's, fueling expectations for a new bull market in altcoins. In this context, DOGE has broken through the critical price level of 0.20 USD, igniting enthusiastic discussions among investors about whether it can return to the historical high of 2021. Its market capitalization has now surpassed 29 billion USD, and as overall market sentiment turns optimistic, traders are closely watching its subsequent performance.
Analyst predicts a breakthrough of 1 USD
Analyst Maelius Crypto pointed out in the latest chart that despite Dogecoin's earlier adjustments exceeding expectations, the current performance is 'incredible'. He believes that DOGE has successfully rebounded from a key support area, including the 200-week moving average and the demand zone between 0.11 and 0.20 USD, releasing a clear breakout signal.
Based on his analysis of the Elliott Wave Theory, DOGE's recent performance aligns with a new wave structure for an upward trend. He predicts that if the current momentum continues, the price is expected to first challenge the 1 USD mark; after experiencing a phase of correction, it may ultimately rise to between 1.30 and 1.70 USD.
Analyst Ali Martinez pointed out that Dogecoin has been supported by a trend line since October 2024. He believes that if the price pulls back to 0.14 USD, it may provide a buying opportunity for investors, after which the price is expected to rebound to 0.30 USD.
Another analyst, Javon Marks, predicts that Dogecoin may experience a strong rebound, with a target price expected to reach 0.65 USD.
The recent rise of Dogecoin has sparked market expectations that its market capitalization could reach 500 billion USD, 1 trillion USD, or even 2 trillion USD. If this goal is achieved, the price of each Dogecoin could soar to 13.4 USD. According to analysts' predictions, this target may be realized between 2033 and 2040.
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