Dogecoin (DOGE) has climbed several spots in the charts over the last few weeks. The asset is currently the 10th largest crypto, with a market cap of $24.8 billion. Despite a 4.2% correction in the daily charts and a 6.2% correction in the weekly charts, DOGE’s price is still up by nearly 85% in the 14-day charts and more than 104% over the previous month.
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The original memecoin’s latest price spike is due to Bitcoin (BTC) hitting a new all-time high. BTC’s rally, on the other hand, is fuelled by increased inflows into spot BTC ETF (Exchange Traded Fund) products.
Will Dogecoin (DOGE) hit $1 this bull run?
According to renowned crypto analyst Ali Charts, Dogecoin (DOGE) could hit $1 by mid-April. Reaching $1 from current levels would translate to a growth of about 525%. Ali Charts cites DOGE’s historical data to back his $1 prediction. The popular memecoin had a similar run during the 2017 and 2021 bull runs.
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Changelly, however, is not very bullish on Dogecoin (DOGE). The platform anticipates DOGE to reach a maximum price of $0.151 in April, a fall of about 5.6% from current levels. Changelly does not expect DOGE to breach the $1 mark till at least September 2028, about four-and-a-half years from now.
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Telegaon also paints a bearish picture for DOGE in 2024, predicting a maximum price of $0.59 this year. Reaching $0.59 from current levels would translate to a growth of about 268%. Moreover, the platform anticipates DOGE to hit $1 sometime in 2026, about two years from now.
However, if Bitcoin (BTC) continues its bullish trajectory, other assets may follow. In such a scenario, DOGE may hit the $1 mark much sooner than anticipated.