Here’s When Dogecoin (DOGE) Can Skyrocket to $1.1: Analyst Explains

Dogecoin (DOGE) could be poised for a significant price increase, with some analysts predicting a rise to $1.1 by early June. Currently trading at $0.1722, the largest meme coin by market capitalization is exhibiting patterns reminiscent of its 2017 bull run, fueling trader optimism.

When Will DOGE Surge?

On March 17, crypto analyst Master Kenobi highlighted striking similarities between DOGE's current price action and its 2017 cycle. Their analysis revealed two nearly identical price pumps in the 2017 bull market, both in terms of magnitude and duration. This analysis, shared on Twitter (), projected a potential peak around $1.1 in early June based on replicating this pattern on the current chart. While not a guaranteed outcome, the pattern suggests bullish momentum, particularly after DOGE recently touched its 200-day moving average, a key support level for many observers.

Further supporting this bullish sentiment, DOGECAPITAL noted a historical pattern of Dogecoin reversing upwards after touching a key support line every four years. They believe the current cycle aligns with this pattern, suggesting a bounce could trigger the next upward surge. Trader Tardigrade also added weight to this prediction, pointing out a key reversal signal—a Doji candlestick—on the weekly chart to his 73,000 X followers. This pattern, often preceding significant rallies, last appeared before a substantial price increase for DOGE.

Market Conditions and ETF Hopes Contribute to Optimism

Despite a 38% decline over the past month, bullish signals are emerging. Analyst Ali Martinez observed whale investors accumulating over 1.4 billion DOGE within a 24-hour period, potentially reducing supply and paving the way for a price recovery.

The potential approval of a spot Dogecoin ETF further enhances the bullish outlook. Applications from Grayscale and Bitwise have been submitted, with Bloomberg experts James Seyffart and Eric Balchunas estimating a 75% chance of SEC approval. Such approval would significantly increase DOGE accessibility, potentially driving demand and price appreciation.

At the time of writing, DOGE is trading at $0.1722, down 2.1% in the last 24 hours. While still up 19.5% year-over-year, a slight 0.8% weekly dip puts it slightly behind the broader crypto market's 0.70% decline during the same period.