The first results are recent The Federal Reserve (Fed) lowers interest rates has been good for the mainstream crypto industry as major assets like Dogecoin have been showing optimism. This performance has fueled several speculations about DOGE, with some analysts predicting that the dog-themed meme coin could reach unprecedented heights in the short term.
Dogecoin’s Path To $1 Is Available By 2024
As the optimism surrounding Dogecoin grows, Master Kenobi, market expert and trader, has pointed out possible timeline for the mega meme coin to reach the highly anticipated price of $1. His bold forecast is based on historical cyclical trends and current price trends that could cause the DOGE to rise to a level within the year, reflecting his unwavering confidence in its short-term strength.
According to an expert, Dogecoin after careful examination of the current price action we may be about to enter a period of rapid growth that has historically occurred during each crypto rally. Meanwhile, this peak growth period is expected to last about 91 days.
Looking at the DOGE chart over a 1-week period, Kenobi emphasized that DOGE produced its third consecutive green week, indicating a strong view of the dog theme. meme coin.
So if this trend continues in a normal situation, Kenobi is convinced that Dogecoin may reach the $1 mark on December 2. Meanwhile, in an optimistic scenario, the market expert believes that the meme coin may rise even higher as it hits the price level of -$2.8. .
In addition, Kenobi revealed another situation that will be seen THE DOGE we reached $1.25 by March 2025, and an optimistic eye will see the digital asset reach $3.5. In particular, Kenobi sees these price levels in case history repeats itself and DOGE reaches a second peak after another 91 days.
Master Kenobi also drew attention to his previous prediction, where he predicted that Dogecoin will be $1.1 early next year, precisely January 6, and $3.8 on April 7.
Although Kenobi expects the meme coin to reach the above-mentioned levels in time, he noted that it may be even closer than it seems a few green weeks have been published.
Is DOGE Poised for More Profits in the Days Ahead?
Given the high volatility of crypto assets, it is difficult to determine the next price trajectory of Dogecoin. However, the coin of the meme shows a good feeling that can lead to it additional benefits in the next few days.
Currently, DOGE has rebounded significantly from last week’s decline of $0.09 to $0.1087. Over the past day, DOGE has increased by almost 2%, at $0.1082. Also, in a weekly period, the meme coin attracted more than 7% gains.
Data from CoinMarketCap shows that the price of DOGE is maintaining its price to go up despite a nearly 3% drop in its trading volume over the past 24 hours.
Featured image from Unsplash, chart from Tradingview.com