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 have to 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 target by March this year. Specifically, the algorithm predicted that the foremost meme coin could rally to as high as $1.04 by March. DOGE is also 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 continue to range around its current price level for the remainder of this month.
Like the machine learning algorithm, crypto analysts such as Master Kenobi have also predicted that the Dogecoin price could soon reach the much-anticipated $1 target. 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 because of his pro-crypto stance. Elon Musk’s Department of Government Efficiency (D.O.G.E) will also come to life, which is bullish for the foremost meme coin because of the 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 happen this year.
What To Expect From DOGE
Crypto analyst KrissPax has provided insights into what to expect from the Dogecoin price in the coming days. In an X post, he stated that Dogecoin is about to break out of a downward channel. The analyst remarked that the foremost meme coin would most likely trade up to $40, retrace back to test the previous resistance, confirm it as support, and then move higher.
On the other hand, crypto analyst Kevin Capital has warned market participants about the current Dogecoin price action. He revealed that the foremost meme coin is testing the top of its falling channel and told them to be careful about FOMOing into the coin at its current price level. Kelvin explained that it could take some time and effort for DOGE to break these levels.
At the time of writing, the Dogecoin price is trading at around $0.37, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
