Will Dogecoin Hit $1? Analyst Points to Key Breakout Pattern

Dogecoin has been catching the attention of crypto traders once again, with speculation mounting that it might soon break the $1 barrier.

Popular analyst, known as “Lucky”, recently shared his belief that the path to this milestone is almost inevitable.

Although Dogecoin has yet to surpass its all-time high of $0.73, it has shown impressive bullish behavior in recent months. However, despite hitting the $0.50 mark, it’s still far from $1. Lucky believes that this isn’t a question of “if” but “when,” pointing to a specific technical formation on the charts to back up his prediction. This pattern, known as a bull flag, has been forming since late 2024 and suggests that a major move upward could be imminent.

The flag formation, starting with a sharp rally and followed by a period of consolidation, is seen as a strong sign of momentum building. If Dogecoin can break free from this consolidation phase with substantial volume, it may be on track for a significant price surge.

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Hitting $1 would mark a huge achievement for Dogecoin, something that would be on par with Bitcoin’s recent breakthroughs. At its current price of $0.33, the meme coin still has a long way to go, but analysts believe that with the right catalysts, it’s not out of the question. Factors like the launch of a Dogecoin ETF or wider acceptance as a payment method could drive further interest and boost its market presence.

While hitting $1 is certainly possible, whether Dogecoin will maintain that price or experience volatility remains to be seen. Regardless, many are watching closely as the coin continues to show potential for future growth.

Alexander Zdravkov