Crypto Analysts Predict Dogecoin To Hit $1 As Pepe, Bonk, New Meme Coins Explode

Crypto influencers across Twitter and YouTube have posted bullish Dogecoin price predictions this week after several interesting tweets by Elon Musk, and a explosion in the DOGE price alongside other meme coins.

Elon Musk Retweets DogeCoin Twitter Account

It’s now been close to three years since ‘The Dogefather’ Elon Musk appeared on SNL to promote Dogecoin, sending it to its May 2021 all-time high of almost $0.74.

Since then the Dogecoin price has traded as low as just under $0.05 in the aftermath of the FTX collapse, and heading into March 2024 DOGE is priced at $0.12.

Yesterday Elon Musk shared the below video by ‘DogeDesigner’ (@cb_doge) the UX/UI designer at Dogecoin, and retweeted another of their posts on audio and video calls on X.

While it’s not yet confirmed, speculation is again now rife that DOGE may be implemented in some way onto X, a long-held hope by Dogecoin investors as far back as the early Twitter days.

On Tuesday Elon also posted that he’d ‘get back on the meme grindstone’.

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Meme Coins Among Top Crypto Gainers

Bitcoin breaking out above $60,000 for the first time since November 2021 has caught retail traders’ interest, with old and new meme coins exploding in valuation.

Over the past seven days these top meme coins are outperforming BTC and ETH:

Also trending on DEXTools and DEXScreener are some recent meme token listings including Smog.

Can Dogecoin Hit $1 – Analyst Price Predictions

HornHairs (@CryptoHornHairs) posted to his 75k followers today that ‘If $DOGE can close this weekly above $0.10 then there’s a good chance it finally manifests its destiny and goes to $1.’

His technical analysis marks out on the weekly Dogecoin price chart a clear break above the high ($0.107) that lead to the local low ($0.070).

That’s a similar pattern of higher lows and higher highs and an impulse move above the EMA 8 that kicked off Dogecoin’s bull run in 2021.

Jacob Crypto Bury posted a Dogecoin price prediction video to his 29k YouTube subscribers.

He considers it ‘possible’ for the Dogecoin price to reach $1 based on its improved fundamentals and ‘retailers getting back into cryptocurrency’ in 2024.

He did caution that the Fear and Greed index is showing ‘extreme greed’ and that Dogecoin will need to reach a $150 billion market capitalization with its current circulating supply to hit $1.

In the short term he’s targeting the $0.15 level and has also highlighted two upcoming meme coin launches, Meme Kombat (MK) which lists on Uniswap on March 5th, and Scotty the AI which has raised $1 million at presale as potential next cryptos to hit $1.

The original ‘Dogecoin millionaire’, Glauber Contessoto, is also optimistic that the DOGE price is ‘going to one dollar’, posting that prediction in December.

Popular crypto analyst @level941 also predicts that newer meme coins on the ‘faster [Solana] blockchain’ like Bonk, Dogwifhat and Wen will draw retail investors from the last crypto bull run back into the space.

See our recent guide to Solana meme coins.

Update – the Dogecoin price hit $0.20 on March 5th shortly after this post.

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James Spillane
Editor

James began investing in cryptocurrency in 2017 and alongside his own trading journey also now aims to help others better navigate the markets as a crypto analyst, writer and editor. Currently James is helping to expand the library of cryptocurrency educational materials here on the site, as well as its tech related content. Prior to joining Techopedia as an administrator James also wrote news coverage of the iGaming industry and online poker guides at Rakeback.com. Hailing from Bedfordshire in the United Kingdom, James graduated from Imperial College London with a BSc in Physics.