Optimism surrounds Dogecoin (DOGE) following a 10% weekly rally. Popular analyst “Chimp of the North” has urged his thousands of followers on X (formerly Twitter) to “HODL” their positions. His Dogecoin price prediction to $1 is based on recent technical analysis, sparking intense debate in the crypto community. This renewed confidence coincides with a broader market recovery.
Chimp of the North’s analysis focuses on the asset’s 3-day chart. The specialist highlighted that DOGE bottomed out at a crucial support level, situated around $0.12. This movement, according to the analyst, is a repeat of its historical performance. The prediction is supported by a similar pattern observed in November 2024.
In that previous cycle, the memecoin experienced a parabolic rise. DOGE went from trading at $0.10 to nearly $0.50 in just a matter of weeks. While the analyst warns that history does not repeat exactly, he suggested that it “often rhymes”. This historical parallel is the basis for his call for patience to await the $1 target during the current bull cycle.
Beyond the historical pattern, Dogecoin’s immediate price action also offers positive signals. The daily chart shows that the token’s uptrend remains intact, despite recent market pullbacks. Recently, DOGE successfully bounced from the $0.165 mark. This level aligns with a long-term ascending trend line.
Traders now have their sights set on the immediate resistance. The key level to overcome is at $0.22. A confirmed break above $0.22 would significantly strengthen the bullish scenario. If this occurs, the next short-term target is $0.33. Furthermore, the DOGE price has remained within an ascending channel. If market momentum accelerates and breaks the ceiling of this channel, the next milestone would be the December highs, near $0.50.
Can the memecoin economy sustain this valuation?
The Dogecoin price prediction to $1 represents a massive psychological and financial milestone. It would imply a market capitalization rivaling that of many traditional companies. Dogecoin has benefited from a general market rally, which some analysts attribute to positive news in the sector.
Although Dogecoin started as a joke, its permanence and adoption have grown. The economy surrounding memecoins is volatile but has shown surprising resilience. Reaching $1 would require an unprecedented inflow of capital and extremely bullish market sentiment. Investors must consider the high volatility inherent in this type of asset.
The debate over the feasibility of $1 per DOGE is underway. While figures like Chimp of the North bet on history, others remain skeptical. DOGE’s performance against the $0.22 resistance will be the first crucial indicator in the coming weeks. The market will be watching to see if the current momentum is sufficient to validate this bold bullish outlook or if it is merely cyclical optimism.
