Dogecoin (DOGE) celebrated its 11th birthday on Friday and was immediately welcomed with bullish predictions for its future. Multiple market watchers are bullish on DOGE, predicting new gains come January. One crypto trader in particular revealed a significant rise they predict to come soon, a “violent surge” for DOGE in fact. The asset has had a bullish month, climbing 120% in the last 30 days, and is hoping to continue that for the rest of 2024.
The Moon Show, a crypto analyst, noted that DOGE is consolidating within a pattern and anticipates a “nice breakout.” The analysts has set a price target of $0.6350 for the dog-themed cryptocurrency. Bluntz, another prominent trader, reiterated his earlier bullish DOGE forecast. Bluntz predicts a “violent upside move” once DOGE breaks out of its three-week accumulation phase.
Dogecoin To Ride “Violent Surge” to $1 and Beyond?
The cryptocurrency market has witnessed a major transformation over the past couple of weeks. Assets like DOGE and Ripple’s XRP shined throughout last month. XRP managed to rise and has emerged as the third-largest cryptocurrency. While the altcoin has pushed several assets to take over this spot, Dogecoin could be following in the footsteps of XRP with this “violent surge.”
Dogecoin’s close association with the Musk-Trump Duo and the newly inaugurated DOGE department has also led it to touch new price highs. The crypto’s dedicated fanbase has done well to send the asset soaring in price. At its current rate, there is even potential for DOGE to hit $1 come the start of the new year.
Also Read: HODLing 10K DOGE: What If Dogecoin Hits $1 or $5?
It should be noted that DOGE hit an all-time high of $0.737 about four years ago, in 2021. The asset is required to rise by over 40% to reach this peak. $1 and $5 are even further, and the meme coin will need to surge by 132% and 1062%, respectively. However, the dog-themed cryptocurrency is riding a wave that mimics this kind of surge. Hence, DOGE investors might want to strap in for a steep climb.
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