Dogecoin Price Prediction: History To Repeat With 800% Price Rally?
Dogecoin started off as a joke, but crypto investors started taking it seriously when its price exploded in 2021. The meme king appreciated more than a hundred-fold, turning early adopters into crypto millionaires.
Even though the meme craze has cooled in recent times and Dogecoin price has suffered numerous corrections, several signals point to a possible revival.
History could repeat itself. An 800% Dogecoin price rally could materialize. But like an upcoming crypto gem, can it breed a new class of crypto millionaires?
A closer look at Dogecoin’s explosive past
In January 2021, Dogecoin was trading around a lowly $0.002. By the middle of that same year, the coin had skyrocketed to $0.73, an astonishing 36,000% jump.
Dogecoin’s explosion in 2021. Source: Coingecko
The meteoric rally was precipitated by numerous factors. General crypto bullish sentiments played a pivotal role. It birthed Dogecoin’s cult-like community that vigorously promoted meme culture.
The fever caught on, especially on Social media. Hype and speculation, courtesy of Elon Musk’s tweet storms, stirred things up and pushed Dogecoin to new highs. This time around, something else, in addition to meme hype, looks to be boosting future Dogecoin price predictions.
DogeOS development to spark Dogecoin revival
DogeOS is the application layer for the Dogecoin ecosystem. Its main job is to allow users to build a wide range of decentralized applications on Dogecoin. The goal here is to strengthen the Dogecoin network, provide real utility and ultimately advance it as the people’s currency.
This app layer just announced the successful closing of a $6.9 million funding round led by Polychain Capital. The over 10 million people who currently hold DOGE will soon gain access to this user-friendly, consumer-facing application layer. Change is coming to Dogecoin. The dividends could be massive.
Dogecoin price prediction: Is an 800% rally on the cards?
In the short-term, the Dogecoin price looks to have broken out of a bearish trend that weighed on it for weeks. This breakout was first identified by Trader Tardigrade and it was DOGE’s first signal of strength since the drop in April.
Dogecoin price breaks out of bearish pattern. Source: Trader Tardigrade/X
It occurred near $0.1720, a level marked by heavy intraday resistance. The Dogecoin price now consolidates just above this zone and could be the launchpad for a major rally in the next couple of weeks.
Long-term chart watchers echo this bullish sentiment. According to Investments_CEO, another trader on X, the Dogecoin weekly chart shows a clear higher low and a trendline retest. Should the current setup hold, the resulting breakout could see Dogecoin appreciate above $1 for the first time in its existence.
Dogecoin price prediction. Source: Investments_CEO/X
Conclusion: Is now the best time to buy Dogecoin?
With Dogecoin price prediction flashing buy signals and fundamental analysis echoing similar sentiments, now wouldn’t be a bad time to give DOGE a go.
Nevertheless, it would be wise to exercise some caution, since Dogecoin is known to be volatile. It is still primarily seen as a meme coin and the meme craze has cooled down in the last couple of months.
For outstanding crypto gains, investors' best bets are upcoming crypto projects with strong fundamentals and outstanding potential. And that’s what Remittix is. A PayFi protocol that allows anyone to send crypto as fiat to bank accounts worldwide, it offers the kinds of returns that Dogecoin fetched in early 2021.
Luckily, this crypto gem is still in presale, available for just $0.0757 per token. Given its surging momentum and rising stature, Remittix looks like the kind of project that turns early adopters into crypto millionaires. That’s why investors are hopping onto its presale, which is selling out fast. Drag your feet too long and you’ll miss out on it.
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