Popular crypto analyst Ali Martinez has recently raised the possibility that Dogecoin could reach the coveted $1 mark in the coming weeks, citing historical patterns as a guide. The current bullish momentum surrounding Dogecoin has stirred renewed interest and speculation among investors, particularly as the cryptocurrency recently surged to the $0.2 level for the first time since November 2021.

As one of the pioneering meme coins in the crypto industry, Dogecoin has undergone remarkable growth, now boasting a market cap of $25.28 billion and retaining its title as the largest meme cryptocurrency. Despite its significant following and consistent price expansion, the $1 price level has long remained elusive due to its substantial circulating supply.

However, some analysts, including Martinez and KALEO, are optimistic that this may soon change. Martinez points to a compelling pattern in a recent DOGE price chart, highlighting similarities to previous breakout periods in 2017 and 2021. If history were to repeat itself, the recent breakout from consolidation on the weekly chart could potentially propel Dogecoin towards the $1 mark by mid-April.

The correlation between Dogecoin and Bitcoin also plays a pivotal role in these predictions, with DOGE exhibiting a strong 0.97 correlation with Bitcoin, indicating that its price movement is deeply influenced by sentiment around Bitcoin. As Bitcoin continues to surge to new all-time highs, the potential for DOGE’s continued price increase remains a possibility.

At its current trading price of $0.1765, Dogecoin has seen a significant 116% increase over the past 30 days, reflecting the growing investor interest and market activity surrounding the cryptocurrency.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.