Dogecoin (DOGE) is currently attracting the attention of the digital asset community, potentially on the brink of a explosive upward trajectory. This speculation arises following the crypto's first bullish monthly close in over three years. The buzz surrounding Dogecoin's potential surge is largely fueled by insights from crypto analyst pseudonym Milkybull Crypto.

Through a series of updates on the X social media platform, previously known as Twitter, Milkybull Crypto shared optimistic predictions, suggesting that DOGE's price could skyrocket to US$1. CryptoGlobe reports that Milkybull Crypto's analysis indicates significant changes in Dogecoin market behavior, marking a departure from a long period of stagnation. According to the analyst, this bullish trend reversal, the first since 2021, sets the stage for dynamic market movements that could be described as a price explosion.

To add to the excitement surrounding Dogecoin's market prospects, Milkybull Crypto highlights a breakout from an accumulation pattern, indicating that Dogecoin is currently in a phase of retesting previous resistance levels, with strong upward momentum expected to follow.

At the time of this discussion, Dogecoin is trading around US$0.189, experiencing a noticeable spike of over 5 percent in the previous week. This performance sharply contrasts with other leading cryptocurrencies, with Bitcoin experiencing a 6 percent decline and Ethereum dropping 7.8 percent in the same period.

The anticipated timeline for DOGE price surge remains a subject of significant speculation. Responding to inquiries, Milkybull Crypto provides hints on the short-term time horizon for the predicted price movements.

This optimistic view is supported by other crypto analysts, including prominent figure DonAlt, who also projects a significant increase in Dogecoin's value, potentially exceeding 550 percent from its current level to reach the US$1 mark. The foundation of DonAlt's bullish perspective on Dogecoin is the current performance relative to Bitcoin, which he interprets as a strong support signal for Dogecoin.

While acknowledging the potential risks to this optimistic view, including a critical price point of US$0.05 that could disrupt the bullish narrative, DonAlt emphasizes a favorable risk-reward ratio, especially considering that Dogecoin recently dropped to US$0.12, which is only slightly above what he considers an optimal entry point at the price of US$0.1.

Historically, Dogecoin has tended to experience dramatic price fluctuations within short periods. This was showcased in 2021 when Dogecoin's value surged an incredible 10,000 percent, lifting it from relative obscurity to a crypto talk of the town.

This surge is reflected in the spike in search interest for Dogecoin, jumping from an average of 135,000 monthly searches in April 2020 to an outstanding 16.5 million in April 2021, reflecting increased public interest and engagement with crypto.