Dogecoin Price To Attempt $2 With With Memecoin Supercycle Says Analysts

Since the beginning of June, DOGE's price has been on a downtrend, losing more than 21% in value. Though Dogecoin was not performing at its best even before, the current decline has pushed the value way down the average of $0.15 it has maintained for months. During this time, the Dogecoin price went down to $0.1157 before attempting a recovery in the last few days. It has surged more than 6% over the week, out of which a 2% hike today, bringing the value to $0.1247.

With this, the investors are expecting a complete uptrend to recover the ongoing losses. However, they might get even more as a few analysts have predicted of Dogecoin price to surge between the $1-$2 mark in the upcoming days.

Dogecoin Price To Hit $2 With Memecoin Spercycle, Says Kaleo

Kaleo, the popular pseudo-anonymous crypto analyst, has recently predicted the Dogecoin price to surge beyond $1, because of the ongoing Memecoin Supercycle. He began the post by explaining how people have viewed Dogecoin as boring because of its sideways moment for the last nine and half years. But he highlighted that the one-year DOGE price surged, it offered more than 6000% gains, followed by another 30,000%.

Dogecoin has been moving sideways since it created the all-time high of $0.7376 on May 8, 2021, but interestingly, the charts had two similar sideways movements before the all-time high. Each of these took at least 8-9 months after Bitcoin halving to boom in value, and now, as it has been two months since 2024 halving, a similar rally can be expected for the December-February.

However, he did mention witnessing a pullback to 8-9 cents before seeing an uptrend similar to the February one.

Overall, Kaleo has presented his expectation with the dogecoin to turn bullish like the other meme coins. But he has also accepted the long wait to bear before the DOGE price surges to $2.

What Will Happen If This Prediction Came Out True?