Is it time to buy Dogecoin (DOGE) before it hits $1? This famous analyst thinks so

Famous merchant IcedKnife They spoke At his 300k followers X that DOGE meme coin market looks like a very clear buy and hold play. He then suggested that the asset could reach new highs this cycle, with $1 as a “very likely” price target for DOGE.

$DOGE I think is a very clear mental dead space buy and play

Lest you see $DOGE not seeing new highs this cycle, $1 is highly unlikely imo

You feel that this will be “obvious in hindsight”.

Time will tell pic.twitter.com/TB3sdruK8g

— Iced (@IcedKnife) April 2, 2024

The trader's comments came after DOGE made headlines last week when it broke above the $0.22 barrier, a price not seen since November 2021. However, DOGE has recovered to $0.18 as of today (April 3), which seems to be in line with most cryptocurrencies. red.

Ali Martinez, a well-known analyst, echoes the same sentiments He remembered While new entrants such as dogwifhat (WIF) or Bonk (BONK) make headlines every day, traders maintain that DOGE remains the most important meme coin in the market.

Also, Martinez DOGE is reflecting the 2018 – 2021 cycle, and if so, a “massive parabolic bull run” could be on the verge.

Another prominent figure in the crypto space made a similar statement, but to DOGE's oldest and biggest competitor, Shiba Inu (SHIB). as a Cryptopotato reportedDavinci Jeremi, a famous supporter of Bitcoin, suggested that investors should allocate a certain percentage of their portfolios to SHIB.

Despite the current decline, both DOGE and SHIB have been trading in the green over the past 30 days, with gains of 19.5% and 20.4%, respectively.