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The dogecoin price trending below $1 means that the meme coin is still around a 1,000% rally from hitting the coveted $1 level. Despite the expectations over the years, the digital asset has not performed well, instead ending its 2024 rally before it even got to its present all-time high of $0.74. However, this poor performance has not dissuaded investors, with one analyst predicting that the Dogecoin price will indeed end up hitting $1.
Using Previous Cycles To Predict Price Trajectory
Crypto analyst Javon Marks has predicted the trajectory of the Dogecoin price using the performance of the meme coin in the last few cycles. So far, there has been a consistent trend showing that the cryptocurrency has staged a major recovery with each cycle. While there was an over 500% surge in 2024, it has fallen short of the explosive rallies that investors have come to expect.
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Instead of an actual breakout, the analyst classifies the performance between 2023 and 2025 as being part of a stagnation period. What this means is that the Dogecoin price is still in a build-up phase that would lead to its next rally.
If the trend holds, then it is possible that Dogecoin could see another explosive rally in 2026. A breakout from the bottom, somewhere around $0.09, would define the rally and set the tone to hit the first target. This target lies at $0.739, which would be a 750% rally.
Next on the target list is the $1.25 level, meaning that the price would have to rise around 1,100% to complete this move. Then, the final target is placed somewhere above $1.80, and this would mean an over 2,000% move for the meme coin.
Dogecoin Could Be Marking A Bottom
Another analyst, CryptoAnalystSignal, on the TradingView website, has also proposed that the Dogecoin price might be hitting a bottom. This is because the price had been moving inside a descending channel on the one-hour chart. Usually, when the price reaches the lower boundary of this channel, as Dogecoin has done, it results in a bounce. Rising from this descending channel would mean that a possible bottom was in.
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There is still the question of the Relative Strength Index (RSI) showing a possible bearish trend. However, as the price moves toward the 100-MA, it is possible that Dogecoin will target above $0.097 before encountering major resistance.
Featured image from Dall.E, chart from TradingView.com
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