Dogecoin (DOGE) Price Prediction: Renowned Analyst Forecasts A Highly Bullish Outlook

A renowned crypto market analyst has forecasted a highly bullish outlook for Dogecoin price against the backdrop of a crypto market recovery.

A renowned crypto market analyst has made a highly bullish prediction for Dogecoin price amid the crypto market recovery.

Analyst Ali Martinez disclosed on Monday, April 14, that DOGE could hit $0.29 ahead, given its price sustains a break above $0.17. Notably, the dog-themed meme coin is currently changing hands at the $0.16 price level, rebounding from as low as $0.13 over the past week.

Analyst Forecasts $0.29 As Next Target For Dogecoin Price

As seen from Martinez’s recent X post, the Dogecoin price is gearing up for a big week. Particularly, a close above $0.17 paves the road for the next price levels at $0.21 or even $0.29, per the analyst.

As long as the meme coin holds key support at $0.13, the chances of such a bullish feat remain highly optimistic. As mentioned above, the price has already visited the $0.13 support over the past week, although it also recovered back to previous highs.

At the time of reporting, DOGE token’s price traded at $0.1659, up 0.5% over the day and roughly 20% over the week. Crypto market traders and investors are highly optimistic, expecting the dog-themed token to cross $0.17 soon amid its price recovery.

Can DOGE Also Hit A New ATH?

Meanwhile, another renowned crypto market has predicted a highly bullish scenario for the meme token amid a broader recovery. Javon Marks noted in an X post that the token is “looking ready to put on yet another magical bullish performance to new all-time highs.”

Notably, the analyst stresses that the token could gain at least +200% to +330% above $0.73, an ATH reached by the token as of May 2021. This bullish prediction has added to market optimism about DOGE price action ahead.

Also, analyst Trader Tardigrade recently broadcasted a bullish forecast for the same token, cementing investor bullishness. According to Tardigrade, Dogecoin price has entered phase D in “Wyckoff Accumulation,” signaling that massive gains are imminent.

Wyckoff Accumulation is a trading mechanism by Richard Wyckoff that is used to understand how smart money (whales) accumulate assets before a major price move up. Particularly, Phase D in this phase suggests strong support from buyers, paving the road for the last phase, E. Phase E characterizes an end in accumulation trends followed by a strong, sustained uptrend.

Moreover, a DOGE price prediction by CoinGape further revealed that bulls remain dominant over the crypto, per the 3-month bias indicator. In conclusion, broader market sentiments about the meme coin’s price remain highly bullish in the wake of top analysts predicting a massive rally ahead.