Dogecoin Price Prediction – Can DOGE Hit $1 This Year?
The post Dogecoin Price Prediction – Can DOGE Hit $1 This Year? appeared first on Coinpedia Fintech News
The crypto market is enjoying bullish momentum this week, but all eyes are on the meme coin sector as prices surge.
Industry-leading meme coin Dogecoin has outperformed other top 10 cryptocurrencies today, priced at $0.17 and up 4.2%. Will this momentum continue and enable DOGE to reach $1 in 2024?
Analyst Says Dogecoin Is Primed For Breakout
A leading crypto trader has analyzed Dogecoin’s fundamental and technical outlook, concluding that it could reach $1 this year.
Kaleo, who famously predicted the bear market bottom in 2023, is a vocal proponent of Dogecoin and anticipates a breakout to occur imminently.
Through multiple analyses, Kaleo has deduced that DOGE will reach $1 in 2024.
Recently, the analyst has presented two important Dogecoin theses that both attest to its high potential.
The first was Kaleo suggesting that the recent GameStop pump signals that “retail has shifted back to being risk-on.”
By risk-on, Kaleo refers to investors dialling up their exposure to higher-risk assets like meme coins.
He dubbed Dogecoin the “King of memes” and speculated that “as soon as it starts to catch a bit of a bid, it will move vertically once again.”
And in another tweet, Kaleo analyzed Dogecoin’s price against Bitcoin’s.
He noted that DOGE is trading below a descending trend line resistance but anticipates an explosive breakout and upswing.
Currently, 1 DOGE is worth 0.00000241 BTC, but the analyst expects this to increase to $0.000007 in the coming months.
While this represents a 3x growth, it’s worth noting that Dogecoin’s price against the U.S. Dollar could grow significantly more. That’s because Kaleo predicts that Bitcoin’s price will also rise, thereby expediting Dogecoin’s gains.
Adding to the excitement, other prominent analysts like Wizz have also suggested that Dogecoin will reach $1 this cycle.
$DOGE to $1 is not a meme pic.twitter.com/YulBL5DQyW
— WIZZ( beware scammers ) (@CryptoWizardd) May 21, 2024
With that in mind, the current outlook for Dogecoin is highly bullish. This also reflects the unwavering optimism pumping throughout the meme coin sector.
Another project displaying potential is WienerAI, a new AI-meme coin cross-breed currently undergoing a presale.
New Meme Coin to Watch: WienerAI Backed to 100X After Raising $2.5M
Intertwining the utility of AI and the virality of meme coins, WienerAI has caused a ruckus since its presale launch.
On the surface, WienerAI presents itself as a sausage dog-themed meme coin, and its website is littered with bold innuendos to keep its community entertained.
However, this is merely its user-facing exterior, designed to spread the word and attract an audience.
Beneath its playful facade, WienerAI boasts a cutting-edge trading bot that leverages predictive AI technology to make users better traders.
Users can ask the bot questions, and it will search the market to find the best trades.
It also delivers seamless trade execution that is MEV-resistant, instant, free, and noob-friendly.
Anyone who has traded on-chain understands the tiresome and clunky experience of buying tokens. But this is no longer an issue with WienerAI, marking a significant breakthrough for decentralized finance.
As such, leading industry figures like the 99Bitcoins YouTube channel have backed it for 100x gains.
The project’s presale has raised $2.5 million and is ongoing. It is currently priced at $0.000709, but this price will rise throughout the campaign, with the next uptick in one day or when the total raise hits $2.7 million.
