Dogecoin’s price below $1 means the meme coin is still about a 1,000% rally away from reaching the desired $1 level. Despite expectations over the years, the digital asset has not fared well, instead ending the 2024 rally before reaching its current all-time high of $0.74. However, this poor performance did not discourage investors, and one analyst predicted that the price of Dogecoin would actually reach $1.
Using previous periods to predict price trajectory
Crypto analyst Javon Marks has predicted the price trajectory of Dogecoin using the performance of the meme coin over the past few periods. So far, there is a consistent trend that shows that the cryptocurrency has made a significant recovery with each cycle. While the increase was more than 500% in 2024, it fell short of the explosive rally that investors expected.
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Instead of an actual breakdown, the analyst classifies the performance between 2023 and 2025 as part of a period of stagnation. What this means is that the price of Dogecoin is still in a bullish phase, leading to its next rally.
If this trend continues, it is possible that Dogecoin will see another explosive rally in 2026. A break below, somewhere around $0.09, defines a rally and sets the tone for the first target. This target is $0.739, which would be a 750% rally.
Next on the target list is the $1.25 level, which means that the price would have to rise about 1,100% to complete this move. Then, the final target is placed somewhere above $1.80, which means a move of more than 2,000% for the meme coin.
Dogecoin may be pointing down
Another analyst, CryptoAnalystSignal, on the website TradingView, also suggested that the price of Dogecoin could go down. This is because the price was moving within a descending channel on the hourly chart. Usually, when the price reaches the lower boundary of this channel, as Dogecoin did, it causes a jump. A break out of this descending channel means that a downside is possible.
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There is still a question about the Relative Strength Index (RSI), which indicates a possible downtrend. However, as the price moves towards the 100-MA, Dogecoin is likely to target above $0.097 before encountering major resistance.
Featured image from Dall.E, chart from TradingView.com
