Dogecoin up to $1.35? Analyst predicts milestone 'Within 70 days'

Analysts predict that the price of Dogecoin (DOGE) will surge in the coming months, bringing this meme coin back into the spotlight. Some analysts believe that DOGE will reach $1.35 by mid-April, a significant increase from the current level of around $0.27, as the cryptocurrency market recovers. This popular meme cryptocurrency is expected to rise by about 400% and reach new highs if this prediction comes true. Market strength nurtures DOGE's optimism When Bitcoin leads the rise above $57,000, the cryptocurrency market in general has heated up. Traditionally, meme cryptocurrencies like Dogecoin have benefited from Bitcoin's price increase; often keeping pace with its steady but notable rise. With a daily trading volume of about $1.5 billion, the recent increase in DOGE trading volume indicates significant investor demand. This uptick in activity is evidence that traders are preparing for a major breakthrough. Past patterns indicate a price increase cycle After the Bitcoin halving event, Dogecoin has a history of strong price increases in bull markets. The celebrity endorsements and social media hype have propelled DOGE from $0.05 to $0.74 in a few months of 2021. Although the current cycle may not follow that path, historical numbers indicate that, in favorable market conditions, this meme coin has the potential for a strong recovery. Cryptocurrency analyst Master Kenobi predicts Dogecoin could reach $1.35 "within 70 days" from its lowest point on February 3. This forecast aligns with mid-April, a crucial timeframe falling one year after the Bitcoin halving event. The cryptocurrency market has shown significant growth in the previous halving cycle and this could happen again, pushing Dogecoin to a market capitalization of nearly 200 billion dollars.

Important support level, resistance level to watch Before DOGE can reach $1.35, it needs to overcome some strong resistance levels. Analysts consider $0.30 and $0.45 as important levels to check before any significant move towards $1. The support level at $0.20 remains strong on the downside and serves as a safety net in case of a short-term decline. A stable increase to $1.35 could occur if people continue to buy at this price level. Carefully consider the exaggeration Despite the optimism of everyone, buyers should be cautious. The cryptocurrency market is still very volatile. Dogecoin has a strong community backing, but still lacks basic utility compared to other major cryptocurrencies. Because speculation still affects its price, sudden decreases can always occur. Risk management is crucial for those hoping to profit from price increases. Everyone will be watching Dogecoin as April approaches to see if it can surprise everyone once again. Whether DOGE reaches $1.35 or not, the future looks bright for both traders and hodlers alike.