CoinCodex’s machine learning algorithm has predicted when Dogecoin price might peak psychological $1 level. Interestingly, according to the forecast, market participants will not have to wait too long for the leading meme coin to reach this price level.
When Dogecoin price will reach $1
The machine learning algorithm predicted that Dogecoin price would reach the $1 target by March this year. Specifically, the algorithm predicted that the leading meme coin could rise to as high as $1.04 by March. DOGE is also expected to continue rising to $1.11, a rise by April Increase of around 200% from its current price level.
The platform noted that the sentiment around the Dogecoin price is currently bullish, although the Fear and Greed Index is currently at 75, indicating greed. Despite the bullish sentimentThe machine learning algorithm predicts that Dogecoin could continue to fluctuate around its current price level for the rest of this month.
Like the machine learning algorithm, crypto analysts like Master Kenobi have also predicted that Dogecoin price could soon reach the highly anticipated target of $1. Master Kenobi recently highlighted Inauguration of Donald Trump as a catalyst for the parabolic rise to this price level.
Trump will take office on January 20th, which is bullish for the Dogecoin price due to his pro-crypto stance. Elon Musk’s Department of Government Efficiency (DOGE) is also coming to life, which is bullish for the leading meme coin due to the similarity to its ticker “DOGE”.
Crypto analyst Trader Tardigrade also recently predicted that Dogecoin price rise to $1 is imminent. The analyst predicted that DOGE could reach this price level as early as March. Galaxy Research also predicted this that the rally to $1 will happen this year.
What to expect from DOGE
Crypto analyst KrissPax has provided insights into what to expect from Dogecoin price in the coming days. In an X post, he explained that Dogecoin is about to break out of a downward channel. The analyst noted that the leading meme coin would most likely rise to $40, then move back to test previous resistance, confirm it as support and then move higher.
On the other hand, crypto analyst Kevin Capital has warned market participants about the current price development of Dogecoin. He revealed that the leading meme coin is testing the top of its falling channel and urged it to be cautious at its current price levels as FOMO enters the coin. Kelvin explained that it may take some time and effort for DOGE to break through these levels.
At the time of writing, Dogecoin price is trading at around $0.37, up over 3% in the last 24 hours Data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com