Dogecoin (DOGE) Price Prediction: Trader Tardigrade Reiterates Bullish Forecast, Sets $1 Milestone as Target

Ignoring recent downsides, a popular cryptocurrency trader on Thursday reiterated their bullish forecast for Dogecoin DOGE/USD this year.

A popular cryptocurrency trader expressed bullishness for Dogecoin (CRYPTO: DOGE) this year, despite some recent weakness.

What Happened: Trader Tardigrade, known for spotting patterns and predicting price movements, is still confident that the dog-themed cryptocurrency will hit the $1 milestone eventually.

“Retracement often occurs before a massive spike,” the trader said, urging followers not to pay too much attention to the correction.

Dogecoin hit a yearly peak of $0.46 in December 2024 but has since declined by nearly 30%. In the last month, the coin lost 16% of its value.

#Dogecoin is on its way to the $1 benchmark 🔥

Retracement often occurs before a massive spike 🚀

#DOGE 🔥 $DOGE pic.twitter.com/Ckugdeusm2

In another analysis, Trader Tardigrade set price targets of $2 for the 2025 cycle and $8 for 2028, advising long-term holding of DOGE for significant gains.

Meanwhile, another closely followed analyst, Javon Marks, is expecting DOGE to continue a “massive” bull cycle.

“All Time Highs in another near +120% move can be coming in any moment now and even then, could have much, much more to go…,” Marks made a bold prediction.

Just checked and $DOGE (Dogecoin) still looks well positioned to continue in yet another massive bull cycle showcase ⚡️!

All Time Highs in another near +120% move can be coming in any moment now and even then, could have much, much more to go… https://t.co/QjzgO8ghnn pic.twitter.com/X8hPKbBPBS

See Also: US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto

Why It Matters: These bullish analyses come in direct contrast to some other analysis that is now expecting a potential downturn in the value of Dogecoin.

Prominent Dogecoin analyst Kevin shared a bearish analysis on Dogecoin, stating, "If BTC doesn't bounce, then this probably has lower to go before finding a bottom."

Derivatives traders were largely positioned long on Dogecoin. Over 82% of traders on Binance expected the leading meme coin to rally in the coming days, as per the Long/Short Ratio.

Moreover, leading blockchain analytics firm IntoTheBlock showed a “Mostly Bullish” signal for the cryptocurrency at press time, as opposed to “Mostly Bearish” for Ethereum (CRYPTO: ETH) and Cardano (CRYPTO: ADA).

Price Action: At the time of writing, Dogecoin was trading at $0.3264, down 3.87% over the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin gained 0.55%, compared to almost 273% in gains in 2024.