A quick increase in the price of Dogecoin to $1 was forecasted by the analyst.

Dogecoin (DOGE), a cryptocurrency based on memes, is expected to skyrocket in value to $1, according to analyst Ali Martinez.

If Martinez’s prediction pans out, the price of Dogecoin will skyrocket to $1-1.1 before crashing and reversing course. Also, by the end of 2024, the expert predicts that Dogecoin’s price might go higher than $5. At its current price of $0.16 per token, Martinez projects a 31-fold increase in the asset’s value.

A bullish rally is imminent, according to the analyst who uses the pseudonym Altcoin Sherpa. After nearly two years of accumulation on the Dogecoin market, he predicts that the cryptocurrency rate will reach $0.5. Nevertheless, Altcoin Sherpa forecasts a medium-term drop in DOGE price and suggests purchasing coins at a rate of $0.12-0.14.