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.
The post Forget $10 Dogecoin Price Target, Can DOGE Hit $1 in February? appeared first on CoinGape.
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