In a post on X, KrissPax hinted at the 4-year cycle to explain why Dogecoin's price could still reach $1. He stated that this meme coin has historically shown patterns reinforcing these cryptocurrency trading cycles. The analyst added that from bear market to bull market and sharp declines, DOGE has repeated these fluctuations, indicating a parabolic rally could occur this fall.
In line with this, KrissPax commented that Dogecoin's price could reach $1 if it follows the upward sloping white resistance line, which he highlighted on the accompanying chart. Furthermore, he said that if DOGE follows the blue curve from 2017, which supports the theory that the increase will be less in each cycle with a larger market cap, the price could reach $2 in this cycle.
Dogecoin's price is currently trending upward after falling below the psychological threshold of $0.20 during the recent market correction. DOGE has increased more than 17% in the past seven days and is now seeking to reclaim its previous high of around $0.26. Cryptocurrency analyst Ali Martinez predicted that this would happen soon.
In a post on X, Martinez stated that Dogecoin's price is targeting $0.27 as it forms a bullish flag pattern on the hourly chart. Cryptocurrency analyst Trader Tardigrade also emphasized DOGE's breakout on the 4-hour chart and said this meme coin is currently aiming for $0.295.
Like KrissPax, Trader Tardigrade also pointed out that this meme coin could reach a price of $1 at some point. He revealed that Dogecoin's price confirmed a bullish crossover on the daily chart. This analyst also commented that a significant rally could occur at this time. His accompanying chart shows the target is $1.
The Best is Yet to Come for DOGE
In a post on X, cryptocurrency analyst Kevin Capital argued that the best bullish momentum for Dogecoin is yet to come. He noted that all momentum, strength, and monthly sentiment indicators for DOGE show that investors have not yet recognized the potential of this top cryptocurrency. He remarked that this is similar to many other altcoins.
Kevin Capital further remarked that if the macro situation stabilizes and Bitcoin's price holds steady, then the biggest price volatility for Dogecoin may still be ahead. The Fed is expected to cut interest rates in September, a positive signal for DOGE, as this could pump more liquidity into the coin.