Dogecoin Price Prediction: Analyst Indicates DOGE Could Soon Reach $0.9

Dogecoin is moving, accelerating as it recovers from a slight downturn. Recent charts show a promising breakout that could be imminent, potentially pushing the price closer to the coveted $1 level. The road to $0.90 for Dogecoin: Analysis and predictions Dogecoin (DOGE) is approaching the $1 target after a strong recovery. The immediate target for this meme coin is set at $0.1850, driven by increasingly bullish sentiment in recent weeks. In addition to the positive signals, Dogecoin has broken and closed above the 1-day moving average 1D MA50 two days ago for the first time in three months, since January 18, 2025. This breakout occurred after a recovery on the higher low zone of 2 years. This move is considered a significant bullish development because historically, each time Dogecoin closes above the MA50 line one day after testing a higher low zone, the price has begun a major bullish phase in the current uptrend. Coincidentally, the 1-day Relative Strength Index (RSI) also indicates a significant bullish divergence at that bottom, consistent with previous bottoms over the past two years. According to cryptocurrency analyst BitGuru, Dogecoin has significant potential to rise above the $0.1850 threshold in the near future. In an analysis shared on X, BitGuru believes that the price increase to $1 will occur in the next bull run, but certain conditions must be met. First, Dogecoin needs to maintain its position above $0.1666 to initiate a price increase to $0.1850. Dropping below this level could cause Dogecoin to fall to around $0.1524, dampening enthusiasm for the rally. BitGuru points out that Dogecoin is recovering after dropping to $0.1524, forming what he calls a "classic cup recovery." $DOGE has just completed a classic cup recovery and is stabilizing at the key support level. Clear bullish momentum is forming. If the price holds at this level, we may be heading towards a new breakout above $0.1850 in the next rally - BitGuru stated. BitGuru does not provide a specific timeframe, but the optimism about Dogecoin reaching $1 is very high. Currently, the metrics of Dogecoin seem promising after the recent recovery. DOGE is currently trading at $0.1828, up 8% in the last 24 hours, and the seven-day chart shows this meme coin has increased by nearly 20%. Dogecoin is trying to offset the 5.47% drop over the past 30 days with this new surge while consolidating its one-year gains. Despite these positive figures, trading volume has decreased by 13%, standing at below $1.45 billion. In addition to the positive outlook, another cryptocurrency analyst, Master Kenobi, believes that Dogecoin could reach a new all-time high within 55 days, aiming for a valuation of $0.90 by mid-June. Data from Coinglass also reveals that the open interest (OI) for Dogecoin futures has surged to the current 9%, reaching $2 billion, highlighting the growing market interest and potentially paving the way for further upward movements. But amid the recent optimism, there are concerns that the price of Dogecoin could be affected by speculation surrounding Elon Musk's departure from the Securities and Exchange Commission and how that might impact his involvement with Dogecoin. This could cause traders and investors to panic sell, leading to short-term price volatility. However, global reports indicate that the likelihood of any long-term negative impact is very low.