Dogecoin’s price is surging! After a period of sideways movement, it’s almost doubled in the last month. This jump is part of a broader crypto market upswing, and the charts are looking bullish for Dogecoin.
A Bold Prediction
Crypto analyst Master Kenobi has made a pretty daring prediction: Dogecoin could reach $1.05 by early June. He’s basing this on a comparison between Dogecoin’s current price action and its performance in 2017.
Comparing 2017 and 2025
Kenobi sees similarities between Dogecoin’s price movement now and its big jump in 2017. Back then, after a 70-day consolidation, the price exploded by 850% over 45 days. He argues that the current situation is following a similar pattern, but much faster. The 70-day consolidation period seems compressed into just 35 days this time around, suggesting a much quicker, 22-day breakout period. His analysis suggests a potential 350% rally, leading to that $1.05 price target.
The Fine Print
Reaching $1.05 in such a short time would require Dogecoin to maintain its current upward momentum and even exceed the speed of previous bull runs. While the prediction is optimistic, it’s not completely out of the realm of possibility given Dogecoin’s past price spikes. However, even with the current positive trend, there’s still a lot of ground to cover to hit that $1 mark.
A Broader Altcoin Rally?
Kenobi’s prediction isn’t just about Dogecoin. He believes many altcoins are poised for a significant price increase in late May and early June, and Dogecoin, being a popular altcoin, could lead the charge.
Current Status
At the time of writing, Dogecoin is trading around $0.24, up 6% in the last 24 hours.