CoinCodex’s machine learning algorithm has predicted when the Dogecoin price could reach the $1 psychological level. Interestingly, according to the prediction, market participants will not have to wait too long before seeing the top meme coin reach this price level.
When Dogecoin price reaches $1
The machine learning algorithm provided that the price of Dogecoin would reach the target of $1 in March of this year. Specifically, the algorithm predicted that the top meme coin could rise as high as $1.04 in March. DOGE is also expected to rise further to $1.11 in April, representing a increase of around 200% from its current price level.
The platform noted that the sentiment around the price of Dogecoin 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 oscillate 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 long-awaited target of $1. Master Kenobi recently highlighted Donald Trump’s inauguration as a catalyst for the parabolic rise to this price level.
Trump will take office on January 20, which is bullish for Dogecoin price due to his pro-cryptocurrency stance. Elon Musk’s Department of Government Efficiency (DOGE) will also come to life, which is optimistic for the top meme coin due to the similarity to its ‘DOGE’ symbol.
Crypto analyst Trader Tardigrade also recently predicted that Dogecoin’s price rally to $1 is imminent. The analyst predicted that DOGE could reach this price level as early as March. Galaxy Research also predicted that the rebound to the dollar will occur this year.
What to expect from DOGE
Cryptoanalyst KrissPax has provided information on what to expect from Dogecoin price in the coming days. In a post by X, he stated that Dogecoin is about to break out of a descending channel. The analyst commented that the top meme coin will most likely trade up to $40, pull back to test the previous resistance, confirm it as support, and then rally.
On the other hand, the crypto analyst Kevin Capital has warned market participants about the current Dogecoin price action. He revealed that the top meme coin is testing the top of its descending channel and told them to be wary of FOMO on the coin at its current price level. Kelvin explained that DOGE might need some time and effort to break through these levels.
At the time of writing, Dogecoin price is trading at around $0.37, up more than 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
