CoinCodex’s machine learning algorithm predicted when Dogecoin’s price might reach psychological level of $1. Interestingly, based on predictions, market participants won’t have to wait long before the top meme coin reaches this price level.
When the price of Dogecoin reaches $1
Machine learning algorithm predicted that the price of Dogecoin will reach its target value of $1 by March this year. In particular, the algorithm predicted that the top meme coin could rise as high as $1.04 by March. DOGE is also expected to further boost to USD 1.11 in April, which will represent approx boost by about 200% from the current price level.
The platform noted that sentiment around Dogecoin price is currently bullish, although the Fear and Greed Index is currently at 75, which indicates greed. Despite bullish moodsthe machine learning algorithm predicts that Dogecoin’s price may continue to fluctuate around its current level for the remainder of this month.
Similar to the machine learning algorithm, cryptocurrency analysts such as Master Kenobi have also predicted that Dogecoin price may soon reach the long-awaited $1 target. Master Kenobi recently emphasized this Donald Trump’s inauguration as a catalyst for a parabolic boost to this price level.
Trump will take office on January 20, which is bullish for Dogecoin’s price due to his pro-crypto fundamentals stance. Elon Musk’s Department of Government Efficiency (DOGE) will also be established, which is confident for the premier meme coin due to its similarity to its ticker “DOGE”.
Cryptocurrency analyst Trader Tardigrade also recently predicted that Dogecoin’s price rise to $1 is imminent. The analyst predicted that DOGE could reach this price level as early as March. It was also predicted by Galaxy Research that the boost to $1 will happen this year.
What to expect from DOGE
KrissPax cryptocurrency analyst provided insight into what to expect from the Dogecoin price in the coming days. In the post, X stated that Dogecoin will soon break out of the descending channel. The analyst noted that the top meme coin would likely hit the $40 level, pull back to test previous resistance, confirm it as support, and then move higher.
On the other hand, a cryptocurrency analyst Kevin Capital warned market participants about Dogecoin’s current price action. He revealed that the top meme coin is testing the top of its descending channel and told them to watch out for FOMO towards the coin at the current price level. Kelvin explained that it may take some time and effort for DOGE to break through these levels.
At the time of writing, Dogecoin 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
