Forget $10 Dogecoin Price Target, Can DOGE Hit $1 in February?

Dogecoin price has been consolidating around the $0.25 support level amid recent market corrections. Despite attempts, the cryptocurrency has struggled to break the $1 mark. The broader crypto market continues to face bearish trends, which have impacted DOGE’s upward momentum. Investors are questioning whether the digital asset can hit $1 in February.

Dogecoin Price Eyes $10 Surge: Will $0.19 Hold the Line?

Crypto analyst Ali has shared an optimistic outlook for Dogecoin price, suggesting that if the coin maintains a price above $0.19, it could set the stage for a significant rally.

 According to analysts, this price level is critical for the potential of a parabolic move toward $10. If Dogecoin remains above this threshold, the setup for a sharp rise remains intact, with the possibility of the coin reaching as high as the ambitious level. 

Why has DOGE Not Hit $1 Yet?

Dogecoin price has struggled to hit the $1 mark despite meme coins gaining mainstream popularity. Unlike newer meme coins, Dogecoin has faced a decline in attention, with many newer tokens overtaking its spotlight. 

The meme coin market has seen a significant downturn, losing $44 billion in market cap over the last three weeks, now standing at $3.19 trillion. The overall uncertainty in Bitcoin’s price movements has further dampened investor sentiment, with many re-evaluating their positions. 

Instead of holding on to long-term targets like $10, the focus should shift to shorter-term goals, such as achieving a new all-time high of $1.

Can DOGE hit $1 in 2025?

The latest DOGE price hovered at $0.25464, showing a notable uptick of 2.72%. The Ripple price recently rebounded off the crucial 200-day SMA, indicating a potential bullish trend for the upcoming months. 

This bounce suggests the price could soon test key resistance levels and may even target $1 in 2025 under the right market conditions.

For the Dogecoin price prediction to hit $1, a few factors need to align. First, it must break through key resistance levels, including the 0.5 Fibonacci retracement at $0.35680. 

Following this, the asset should aim for the 1 Fibonacci extension at $0.48434 before attempting to approach the $1 mark. The support levels play an equally critical role; the price must maintain stability above the 200D SMA and avoid dipping below the $0.26284 range.

The power of 3 setups, used in this analysis, refers to a technical strategy that combines key Fibonacci levels, moving averages, and market trends. 

When these elements align in a favorable way, the chances of significant price movement increase. In this case, if DOGE continues to follow this setup, breaking through the 50D SMA and maintaining support at $0.26284, it could signal a steady rise toward the $1 target.

To summarize, DOGE hitting $1 in 2025 is possible if it continues to show resilience at current support levels and breaks through resistance. Market sentiment and broader adoption will also play a role in determining whether DOGE can sustain its momentum and reach new price highs.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.