Dogecoin To Hit $1? Expert Calls It A Realistic Goal For 2025
A prominent cryptocurrency analyst has expressed optimism about the possibility that popular meme coin Dogecoin will reach the long-awaited $1 per coin mark.
Market analyst Trader Tardigrade believes the $1 mark is important for Dogecoin price The rise four days into the new year indicates that memecoin has entered a bullish phase.
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$1 per coin works
Tardigrade believes that Dogecoin reaching the highly anticipated $1 milestone is justified as the popular meme coin is now entering its so-called distribution phase.
Market experts say that DOGE’s price would need to surge by 157% to reach the coveted $1 level, adding that this price level can be achieved as long as the meme coin follows the “power of three” pattern.
“$1 is a reasonable target in this model,” trader Tardigrade said in a post.
Last year, Dogecoin’s price increased by an impressive 252%, although at the end of December, it encountered a bearish scenario and the price fell by 25%.
#Dogecoin Daily candle closes.
It has just entered the distribution phase of the “Power of Three” (PO3) mode 🔥$Governor In this mode, $1 is a reasonable target 🚀 pic.twitter.com/AoVdmTnwOl— Tardigrade Trader (@TATrader_Alan) January 4, 2025
The power of three modes
Tardigrades revealed Dogecoin The distribution stage has been reached, one of the three stages in Triforce mode.
The cryptocurrency analyst defines the “Triple Power” pattern as a three-stage structure that DOGE follows throughout market cycles. The three stages are accumulation, manipulation and distribution.
According to Tardigrade, the accumulation phase began after a sharp increase in DOGE price in November 2024, which may be related to the optimistic outlook for the cryptocurrency market following Donald Trump’s victory in the US presidential election.
The cryptocurrency expert added that the meme coin has experienced a steady price increase and has earned investor optimism during this phase.
The accumulation phase ended on December 17, marking the onset of the manipulation phase, with investors seeing DOGE prices fall.
Trader Tardigrade said that December was a bearish period for DOGE, with its price falling and consolidating, adding that this phase will last until the end of 2024.
During this tumultuous period, Dogecoin lost approximately 25% of its value. However, market analysts say that the manipulation phase is crucial for the memecoin as it prepares DOGE for the next phase, which is the distribution phase.
The distribution phase begins in the first four days of 2025, with the Meme coin heading towards recovery with a price increase of 23.15% during these four days of volatility.
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What $1 Dogecoin Can Do
Trader Tardigrade clarified that DOGE will surge to the much-anticipated $1 per coin due to favorable conditions at this stage.
The analyst said that a 157% price increase would take Dogecoin to $1 from its current price of $0.38961, adding that the bullish forecast for the meme cryptocurrency is based on its past price fluctuations.
Cryptocurrency analysts predict that Dogecoin will achieve this feat since November 2024, when the meme coin managed to achieve a 160% price surge. Therefore, a 157% increase seems realistic.
Featured image from Pixabay, chart from TradingView
