Crypto analyst BALO predicted that the price of Dogecoin could still reach new all-time highs (ATH) despite its decline last year. It revealed which level DOGE needs to recover to trigger this massive breakout that could lead to new highs.
Dogecoin Price plans to rally to ATH with recovery of this level
In a MessageBALO said a recovery of $0.13 could trigger a massive breakout in Dogecoin price and lead to a new absolute record (ATH) for the best coin. His statement came just before DOGE reclaimed this level, gathering double digits in the last 24 hours.
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The price of Dogecoin has increased alongside other meme coins, with PEPE leading the way with a daily gain of up to 35%. With DOGE now back above $0.13, a new all-time high could be on the cards, as predicted by BALO. The accompanying chart shows that the meme coin could reach a yearly high of around $0.44 this year and then reach a new ATH of $0.74 in 2027.
Crypto analyst Neo offered a more optimistic outlook for Dogecoin price, suggesting it could reach $35. In a MessageThe analyst highlighted an ascending trendline for DOGE, with the middle of the trendline placing the meme coin at $4 and the target at the top of the trendline at $35.
Neo alluded to Historical performance of DOGEnoting that in 2021, the price of Dogecoin went from the lower limit to the upper limit in one fell swoop. The analyst further noted that it is possible that it could happen again this time. His supporters have suggested that this parabolic rally could take place before the end of this year.
Why a rally to $0.75 is possible
Crypto analyst Bitcoinsensus raised the possibility of a Dogecoin price rise to $0.75 and explained why DOGE could rally 450% to this resistance level. The analyst noted that each previous accumulation phase led to a sharp rise in prices. As such, Bitcoinsensus said this could indicate what could happen next for the meme coin, with a potential rally to a new ATH.
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Meanwhile, crypto analyst Kevin Capital said that the price of Dogecoin could re-enter an uptrend after moving back above the $0.138 level. He further noted that the next thing needed is a weekly close above this level, and then DOGE could be “back in business.” The analyst had previously indicated a recovery to this level would be extremely positive, with the accompanying chart suggesting it could bring an end to the situation. potential rally to $0.4 on the maps.
At the time of writing, Dogecoin price is trading at around $0.14, up over 11% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
