Dogecoin's price has seen mixed performance recently, leaving experts and investors contemplating the possibility of reaching the $1 mark.
Considering the $1 Target
Dogecoin's price dropped from $0.35 to $0.33 over the past week. Market cap also reflects a decline. Despite this, many investors hope for a rise to $1. Achieving this target would require significant investor confidence and breaking the $0.4 resistance.
DOGE ETF Could Spark Interest
A potential influence could be Bitwise's recent approval for a Dogecoin ETF, which might attract institutional investors and renew retail traders' interest.
Technical Analysis and Projections
$0.295 currently serves as a support level, indicating strong buying interest. The Relative Strength Index (RSI) hints at gradual recovery. For DOGE to reach $1, it needs a confident breakthrough of the $0.4 mark with high trading volumes.
While Dogecoin's price exhibits volatile trends, institutional investor interest and trader confidence could be key factors for achieving the $1 target.
