Dogecoin (DOGE) News: Will DOGE Reach $1 Before the Ethereum (ETH) Price Reaches $7,000?

With Bitcoin reaching a new all-time high, Ethereum (ETH) and Dogecoin (DOGE) are climbing too. The rise in prices is real.

Bitcoin’s new all-time high has also brought ETH and DOGE into the spotlight. Here's a look at which crypto will reach key price points first.

Ethereum (ETH) has had a slow start to 2023, but its momentum is now picking up steam. Currently trading at $3,929, ETH is up 75% year-to-date. Several factors are contributing to ETH's price rise.

One factor is the overall market momentum. The total crypto market cap has now crossed $2.3 trillion, a level last seen in May 2022. This market rally is largely driven by easing inflation and the Federal Reserve slowing down its interest rate hikes. As the market rallies, investors are allocating more capital to the top cryptocurrencies, such as Bitcoin and Ethereum.

Another factor is the changing sentiment around Ethereum itself. After a difficult 2022, during which the crypto market crashed and burned, investors are now returning to the market with a more positive outlook. Specifically, traders are bullish on Ethereum due to its strong fundamentals and upcoming upgrades.

A third factor is the regulatory changes in the United States. With crypto becoming more mainstream, institutions are now looking to gain exposure to digital assets. After Bitcoin, Ethereum is the next most popular crypto for institutions. As a result, several Bitcoin and Ethereum ETFs have seen record inflows in the past month.

This influx of institutional money is expected to push Ethereum up significantly in the coming months. Already, analysts are predicting that Ethereum will reach $4,500 within a month. If ETH manages to break through this key resistance, it could continue rallying even higher.

Moreover, the recent rally has focused on DeFi tokens, and Ethereum is the largest DeFi crypto. If ETH manages to stay above the $4,500 key level, it could then go on to reach $7,000 within three months.

Dogecoin (DOGE), Elon Musk’s favorite meme coin, is quickly re-entering the spotlight. Now, traders are eyeing a potential repeat of 2021's price surge.

At the time, DOGE reached its all-time high after the GameStop saga, largely fueled by retail traders and Musk’s constant tweets. Now, DOGE is up 410% year-to-date, as traders are once again piling into the meme coin.

Currently, DOGE is trading at $0.4108 after dancing around the $0.4 mark for the past month. This is a crucial level, which DOGE last reached after the November election carried it up from $0.1.

What largely fueled DOGE's growth was traders betting on Elon Musk’s position in the incoming Trump administration and his past support for the meme coin. Now, traders are expecting Musk to use his new high-profile position to promote DOGE once again.

In fact, Musk has already named his Department of Government Efficiency (DOGE) after the token. However, a $1 price target is still ambitious for Dogecoin.

How quickly DOGE attains this level will likely depend on whether the meme coin markets heat up again. In that scenario, Dogecoin could reach $1 within two months.

Whether Dogecoin or Ethereum wins out in this race largely depends on the markets favoring either memes or utility. However, one token is likely to do well in both scenarios.

MemeFi Cutoshi (CUTO) is a unique blend of memes and utility, appealing to both types of traders. Recently, Cutoshi broke a key milestone, as it has now raised $1.37 million in presale investments.

Once the presale is over, the token will be listed on major exchanges, giving it more opportunities for growth.

The key behind Cutoshi’s viral status is its appeal to both DeFi traders and memecoin investors. It is both a meme coin and a DeFi ecosystem, complete with a multichain DEX, a learning platform and more.

In this way, Cutoshi hopes to use memes to attract users to DeFi and educate them about its benefits. With more and more users that understand the importance of self-custody and decentralization, projects like Cutoshi have a real chance to grow the DeFi industry.

For more information on the Cutoshi (CUTO) Presale:

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