Dogecoin (DOGE) celebrated its 11th anniversary on Friday and was immediately greeted with bullish predictions for its future. Several market observers are bullish on DOGE, predicting further gains in January. One crypto trader in particular has revealed a significant increase he predicts soon, a “violent surge” for DOGE in fact. The asset has had a bullish month, climbing 120% over the past 30 days, and hopes to continue on this path for the remainder of 2024.
The Moon Show, a crypto analyst, note that DOGE is consolidating according to a pattern and anticipates a “nice breakout”. Analysts have set a price target of $0.6350 for the dog-themed cryptocurrency. Bluntz, another prominent trader, reiterated his previous DOGE bullish forecast. Bluntz predicts a “violent bullish move” once DOGE exits its three-week accumulation phase.
Will Dogecoin Mount a “Violent Surge” to $1 and Beyond?
The cryptocurrency market has undergone a major transformation in recent weeks. Assets like Ripple’s DOGE and XRP have shined throughout the past month. XRP managed to rise and become the third largest cryptocurrency. While the altcoin has pushed several assets to take over this spot, Dogecoin could follow in the footsteps of XRP with this “violent surge”.
Dogecoin’s close association with the Musk-Trump duo and the recently inaugurated DOGE department has also led it to reach new price highs. The crypto’s dedicated fan base has done well to drive up the price of the asset. At its current pace, it is even possible that DOGE could reach $1 by the start of the new year.
Also Read: HODLing 10K DOGE: What if Dogecoin Hits $1 or $5?
It is worth noting that DOGE reached an all-time high of $0.737 around four years ago, in 2021. The asset needs to rise by over 40% to reach this high. $1 and $5 are even higher, and the meme coin will need to rise by 132% and 1,062%, respectively. However, the dog-themed cryptocurrency is riding a wave that mimics this type of surge. Therefore, DOGE investors might want to embark on a strong climb.