Dogecoin ($DOGE) may be on the verge of a massive surge, with analysts projecting a climb to $1.1 by early June. Currently trading at $0.1722, DOGE mirrors price patterns seen in the 2017 bull run, raising optimism among traders.
When Will DOGE Take Off?
On March 17, crypto analyst Master Kenobi highlighted DOGE’s current price movement, showing similarities to its 2017 cycle. According to his analysis, the meme coin experienced two identical surges in both value and duration during that bull market.
By applying that structure to DOGE’s present chart, Kenobi projected a potential peak at $1.1 in early June. While no outcome is certain, this pattern suggests a bullish trend, especially after DOGE recently touched its 200-day moving average—a crucial support level, according to market observers.
Another expert, DOGECAPITAL, reinforced this prediction. He pointed out that historically, after every four-year cycle, Dogecoin has reversed upward after touching a key support line. This cycle appears to follow the same trend, indicating a potential bounce that could trigger the next phase of an upward rally.
Meanwhile, Trader Tardigrade alerted his 73,000 followers on X about a key reversal signal for DOGE. He noted that the recent weekly candle closed as a Doji—a pattern often linked to trend shifts. The last time DOGE displayed this signal, a massive rally followed.
Market Trends and ETF Speculation Fuel Optimism
Despite a 37.55% decline over the past month, Dogecoin is showing bullish indicators. Popular crypto analyst Ali Martinez recently observed that whale investors accumulated more than 1.4 billion DOGE within 24 hours, reducing supply and setting the stage for a potential price recovery.
Adding to the anticipation, the possibility of a spot Dogecoin ETF generates buzz. Investment firms like Grayscale and Bitwise have filed applications, with Bloomberg analysts James Seyffart and Eric Balchunas estimating a 75% chance of SEC approval. If regulators greenlight the ETF, it will simplify access to DOGE, potentially driving demand and price appreciation.
Related article: Dogecoin 24-hours Price Analysis: DOGE Eyes Breakthrough Above $0.18 Amid Key Resistance Levels
What’s Next for Dogecoin?
DOGE trades at $0.1741 at the time of writing—a slight 0.45% decline in the last 24 hours. Over the past year, the meme coin has gained 17.22%, though it dipped 1.43% over the past week, underperforming the broader crypto market, which declined by 0.23% in the same period.
While short-term fluctuations are inevitable, strong whale activity, historical trends, and ETF potential suggest DOGE could be gearing up for a significant price move. If bullish momentum continues, the long-awaited $1.1 target could become a reality.
