Dogecoin has been experiencing a price surge, with its value rising 130% in the last two weeks. This has led to speculations that DOGE could potentially hit $1 this month. The cryptocurrency’s rally has been fueled by the Trump presidency, pro-crypto cabinet appointments, and the establishment of the Department of Government Efficiency.
As Dogecoin nears the $1 mark, there are indications that retail investors have not yet fully joined the rally. However, the total supply of DOGE in profit is at 2021 levels, and the price has not yet returned to its 2021 all-time high. This suggests that investors may be holding onto their coins in anticipation of even higher prices.
Dogecoin’s price prediction suggests that the meme coin will continue to move higher. There is resistance around the current price of $0.40, but with 16 days left in the month, it is possible for DOGE to push through and hit $0.76. Beyond this, there may be more resistance around $1.22-$1.25, but with further momentum, Dogecoin could reach $1.97 and potentially $6.39.
Dogecoin’s price is expected to continue its upward trend, driven by the strong investor interest and increasing demand from both retail and institutional investors. The political shift in the U.S., with a pro-crypto cabinet and regulatory environment, has boosted confidence in cryptocurrencies like Dogecoin.
