Dogecoin (Doge), one of the original meme coins governing the crypto space, has long been yearning to touch a new price high. Although Dogecoin has a long way to go, the token consistently works up to trade at new price thresholds while maintaining its equilibrium.
Per CoinMarketcap, Doge is up 19% in the last month, trading at $0.1601. With the meme coin market thriving and flourishing, investors are currently hoping for Doge Bull to outpace other cryptos in the process.
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Dogecoin to Outpace Bitcoin?
According to Kaleo, a notable crypto analyst, Dogecoin’s impending new ATH is on the cards very soon. The expert was quick to predict a new price trajectory for Doge, citing the token’s recent price chart to outline new developments.
Kaleo pointed out several interesting insights that signal the dog’s possible bull run soon. Per the expert, Dogecoin has often been noted moving sideways for extended periods, displaying a consistent price pace. At the same time, Dogecoin has often mirrored this move. Furthermore, it is usually followed by rapid vertical growth, traversing at a bullish pace.
“The secret about Dogecoin is that it moves sideways for extended periods, followed by rapid, vertical growth.”
Labeling Doge as the “king of meme coins,” Kaleo later pointed out that he’s bullish on Doge and that Dogecoin may have the potential to outpace Bitcoin in the near future.
“As bullish as I am on Bitcoin, I have an insanely high conviction that DOGE will outpace it. We’re in a meme super cycle. The king of memes won’t be left behind.”
Dogecoin June Forecast
With the meme coin market facing an intense faceoff as new meme coins continue to gain momentum, Doge may have to encounter a few hurdles before it amps up its price level.
According to CoinCodex, Dogecoin may note a significant price downturn in June 2024. The token may drop to trade at the $0.13 price level in June, shedding 13% of its valuation in the process.
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“The price of Dogecoin may drop by -13.95% and reach $0.137478 by July 3, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 73 (greed). Dogecoin recorded 13/30 (43%) green days with 4.94% price volatility over the last 30 days.”
However, for the year 2024, the Dogecoin forecast spells interesting metrics. CoinCodex adds that Doge may cross the $0.50 price level by the end of 2024.
“Dogecoin is forecast to trade within a range of $0.135904 and $0.682252. If it reaches the upper price target, DOGE could increase by 325.76% and reach $0.682252.”