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Dogecoin

Crypto Pundit Says Dogecoin Price At $1 Is Only A ‘Matter Of Time’

Scott Matherson
by Scott Matherson
7 months ago
·
Posted in Altcoin News, Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Dogecoin’s price movement remains a matter of discussion among crypto traders on social media, with a well-known analyst pointing to a major breakout pattern that could send DOGE soaring toward $1. Popular crypto analyst Lucky (@LLuciano_BTC) recently shared his bullish outlook with his 2.2 million followers on X, stating that the coveted $1 price target for Dogecoin is now only a matter of time.

Bull Flag Pattern Signals Strong Momentum

Although Dogecoin has shown strong bullish momentum at various points, it has yet to surpass its all-time high of $0.7316 in this cycle. However, many DOGE enthusiasts remain bullish on the meme coin, with many of them looking forward to an eventual break above $1 this bull cycle. Ironically, Dogecoin hasn’t even broken above $0.5, which is the halfway mark to reach the $1 target. Nonetheless, crypto analyst Lucky noted that it’s only a matter of time before DOGE starts to trade at $1. 

Related Reading: Dogecoin Price Prediction: Pundit Says Expect DOGE At $1.30 If This Level Holds

Lucky’s confidence is based on a technical pattern forming on Dogecoin’s price chart. Sharing his outlook in a post, he highlighted a bull flag formation on the daily candlestick timeframe. Interestingly, this bull flag has been in formation since November 2024, making it a multi-month pattern.

Dogecoin
DOGE eyes the $1 mark as bullish momentum builds | Source: Lucky on X

The pattern began with a strong rally in mid-November until it reached a multi-year high of $0.484 in early December before facing rejection. Since then, price action has shifted into the flag phase of the structure, characterized by a period of corrections and bounces off the upper and lower trendlines of the flag.

The formation of a bull flag is regarded as a strong signal for further upside, especially in bullish market conditions. If the meme coin breaks out of this structure with enough volume, it could set the stage for a sustained rally to new multi-year highs. As DOGE continues to build momentum within this setup, crypto analyst Lucky noted that the rally ahead “could be epic.”

Can Dogecoin Really Reach $1?

Reaching the $1 target would be a crazy milestone for Dogecoin, much like how Bitcoin broke above $100,000 for the first time this cycle. At the time of writing, the meme coin is trading at $0.3289 and has a market cap of $48.6 billion. If it were to reach the $1 mark, this would translate to a total market cap of about $147.8 billion. 

Related Reading: Dogecoin Price Mirrors Bullish Pattern From Last Cycle, Is A Rally To $6 Possible?

Although some might find this unrealistic due to its status as a meme coin, calculations suggest a $1 price for Dogecoin is surely possible. It only needs a few stimulants for this to happen. One such stimulant is a Dogecoin ETF, which could have the same effect as it did for Bitcoin. If approved, a Dogecoin ETF could significantly increase investment inflows and create sustained buying pressure for the meme coin. Another factor that could improve Dogecoin’s rise is broader utility, particularly if it becomes an official payment option on a major platform like X.

Dogecoin at $1 is only a matter of time. However, it is also possible that DOGE could start to consolidate around this mark once it eventually attains it, similar to Bitcoin’s current behavior around $100,000.

Dogecoin
DOGE trading at $0.33 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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