There is no dearth of financial analysts predicting that Dogecoin will hit the $1 mark soon. The forecasts have been flying off the shelves since 2020 after the meme currency kick-started a rally five years ago. DOGE hit an all-time high of $0.73 in May 2021 riding on the back of billionaire Elon Musk’s support. The Tesla CEO relentlessly spoke about DOGE back then through interviews and tweets. He even hosted a Saturday Night Live (SNL) show titled ‘The Dogefather’ educating others about the cryptocurrency.

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Since then, every other analyst has been predicting that Dogecoin will reach the $1 mark “soon”. It’s been nearly four years since the forecasts have been doing the rounds on all platforms. Even with a handful of bull runs lately, the maximum DOGE soared was $0.46 in December 2024. It was still way below the halfway mark of reaching the desired $1 target.

Dogecoin To $1: The Mill That Keeps on Running

Will Dogecoin Reach $1 in 2022?
Source: Business Today

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Another new pseudonymous cryptocurrency analyst ‘Trader Tardigrade‘ has thrown his hat in the Dogecoin to $1 ring. He shared a chart indicating that Dogecoin is in the “consolidation” phase and will have a “massive pump” to $1 next. “Dogecoin MACD is emerging from a triangle consolidation. This could lead to a massive pump for DOGE,” he wrote.

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So will Dogecoin reach $1 next? The answer is no. The markets are not in the right position to climb higher as the stock market is on a slippery slope. Trump’s trade tariffs are disrupting the markets and investors are sending mixed signals. These predictions have been there for five years and none of them have turned out to be accurate.

The meme coin is currently trading at the $0.19 mark on Thursday and is down close to 6% in the day’s trade. DOGE briefly recovered in price as its up nearly 13% since the last two weeks. Meme currency Dogecoin needs to rise approximately 430% to climb above the $1 mark.

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