How realistic is DOGE to hit $1 this cycle?

TL; DR

The price of Dogecoin jumped more than 14%, triggered by the support of Elon Musk and the acceptance of Tesla payment. Analysts and crypto enthusiasts are optimistic about DOGE's future, predicting significant rallies for it and other token coins.

Dogecoin has made serious waves today (March 14), with its price rising over 14% to $0.20.

The latest addition is the support of Elon Musk, who could be. he said. His EV-giant Tesla may enable DOGE payments “at some point.” He said he “supports” the first-ever meme coin because it's “the people's crypto.”

Some prominent analysts on X believe that the resurgence will be the start of a great bull run. The famous businessman Rekt Capital proposed that DOGE says it has “successfully tested the Macro Downtrend as a new support”, predicting further gains if the “red psychological resistance” crosses the $0.20 level.

$DOGE

DOGE successfully tested the macro downtrend as a new support and since then +46%

#DOGE's objective is to recover the psychological resistance of $0.20 so that #Crypto #Dogecoin can rally in the red-red region in the future pic.twitter.com/VVpfHHe6MF

— Rekt Capital (@rektcapital) March 14, 2024

Ansem, a crypto enthusiast, was even more eloquent. Asking The thousands of followers DOGE has the chance to explode to a new all-time high of $1 and WIF to reach a massive $100.

Many users who commented below the question predicted that such a rally is plausible, that the Solana-based meme coin could also go higher (considering its big resurgence as of late). WIF is up 80% in a week, recently hitting an ATH above $3.30.

Meme coins have been in the spotlight over the past few weeks, with Shiba Inu (SHIB), Pepe Coin (PEPE), Bonk Inu (BONK), Floki Inu (FLOKI), and several others seeing triple-digit price increases.

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