DOGE, the leading meme coin in terms of market capitalization, has experienced a significant price surge of around 15% in the previous week, bringing it close to $0.17. This recent uptrend has sparked optimism among analysts, who foresee a positive trajectory for the cryptocurrency.

Various experts, such as X user Rekt Capital and Crypto Catalysts, have highlighted key factors contributing to this bullish outlook. These include the breakthrough of a multi-year resistance level that has now become a new support zone, as well as a notable increase in daily transaction volume. These elements suggest that DOGE has the potential to achieve a price target of $1.

Furthermore, historical patterns in the cryptocurrency's price movements have also reinforced the expectations of a significant upsurge following previous corrections. This data adds further credibility to the optimistic projections for DOGE's future performance.