Driven by bullish market sentiment following Donald Trump’s win in the concluded US Presidential election, the has been steadily increasing, aiming to break through the $0.4 resistance level. A crypto analyst of Trading View has discussed several factors that could propel the Dogecoin price even higher, potentially .
Key Drivers To Send The Dogecoin Price To $1
A recent on TradingView discusses the potential for the Dogecoin price to soon hit the coveted $1 milestone. Presenting compelling factors, the report suggests that Dogecoin could see its price surging to $1 with the .
To put it more clearly, TradingView has revealed that and devotion to DOGE could allow the meme coin to steadily grow to a $130 billion market capitalization, representing a $1 price surge. In addition, Dogecoin‘s increasing popularity in the financial space is also set to catalyze a potential price surge.
Currently, Dogecoin is one of the most talked-about meme coins in the market, as the cryptocurrency has among the top gainers in this bull market. With more users and investors flooding into the DOGE ecosystem, demand and adoption are poised to rise, potentially triggering a .
According to CoinMarketCap, the Dogecoin price has increased by a staggering 250% in just one month. This massive price surge saw the meme coin jump from around the $0.2 price level to new highs around $0.4. TradingView’s report noted that many analysts foresee the Dogecoin price hitting the $1 price tag in the near future.
Notably, Jeremy, a prominent crypto analyst, his 180,300 followers on X (formerly Twitter) that the , driven by Musk’s support and the integration of the meme coin in America’s economy. Other X crypto analysts like ‘Bark’ have even higher price surges for DOGE, believing it could rise to $10.
DOGE Outperforms Bitcoin
During its report, TradingView also revealed that the Dogecoin price is currently by 150%. As mentioned earlier, Dogecoin has been on a parabolic run recently, jumping 110% in just one week while still accumulating gains as of writing. TradingView’s report revealed that following in the concluded US election, the Dogecoin price rallied 180%.
This massive price surge outperformed Bitcoin, which grew only 30% within the same period. While Bitcoin’s price is significantly larger than DOGE and has successfully achieved a new ATH, DOGE, with a lower price of around $0.4, is viewed as a more accessible and profitable option for smaller investors.
Despite the clear gains in the Dogecoin price, analysts from TradingView caution against jumping headfirst too quickly. They warn that downturns remain possible and low prices can be deceptive.