The Price of Dogecoin Could Soar to $1.25 by May, Analyst Predicts

Dogecoin is rebounding alongside the broader crypto market after a turbulent period, sparking speculation about how high it could climb in the coming months. Analysts suggest the largest meme coin by market cap might surpass its all-time high and break past $1 by May, supported by historical trends and technical indicators.

Bullish Symmetry in DOGE’s Price Movement

Pseudonymous crypto analyst Master Kenobi has observed a pattern of price symmetry in DOGE’s movements over the past year. He noted that the meme coin has followed a cyclical pattern with two major surges—the first in February 2024 and another in August.

While the initial rally tripled Dogecoin’s value, those gains were erased after a sharp decline in August. However, another rapid rally followed, pushing the price up sixfold.

This second surge was cut short when the broader crypto market lost over $400 billion due to tariff disputes between the United States, Mexico, Canada, and China. As a result, Dogecoin holders saw 57% of their accumulated gains disappear within a single day.

Despite this setback, Kenobi remains bullish. He highlights that DOGE’s green trendline, which previously acted as support, has now turned into resistance. If the meme coin breaks above this level again, a strong rally could be triggered.
Kenobi presents two possible scenarios: one where DOGE replicates its February 2024 rally and peaks by the end of this month, and another where it consolidates before hitting new highs in mid-April or early May. He leans toward the latter, predicting that if Dogecoin follows its August 2024 trend, a sixfold increase from its current price could push it to at least $1.25.

Market Sentiment Remains Split

Kenobi’s forecast comes amid reports that Dogecoin whales recently offloaded 270 million tokens—worth approximately $70 million—within 24 hours. This mass sell-off has raised concerns about a potential price drop if demand fails to keep up with supply.

Further adding to bearish sentiment, analyst Ali Martinez pointed to a negative crossover between DOGE’s Market Value to Realized Value (MVRV) ratio and its 30-day Simple Moving Average, suggesting additional downside risk.

However, at the time of writing, Dogecoin was showing resilience, gaining 5.9% in the past 24 hours. Despite this recovery, it remains 21% below its weekly peak of $0.3398, underperforming the broader crypto market, which is down 5.7%.

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