Dogecoin Could Reach $1 by Year-End, Strategist Says
2min read Dogecoin, the world's most recognized meme coin, has sparked renewed interest among retail investors who are questioning whether it can surpass the $1 mark during the current market upswing. In a recent market update, independent strategist Kevin, known online as Kev Capital TA, asserted that Dogecoin has the potential to reach $1. He based his analysis on a combination of long-term Fibonacci targets, momentum indicators, and a supportive macroeconomic backdrop.
Kevin's analysis suggests that Dogecoin is in its third major cycle and has historically advanced to the 1.618 Fibonacci extension on the monthly chart, which currently sits at approximately $3.80. He emphasized that this level is not a price prediction but rather a framework for understanding the coin's potential upside. Kevin also pointed to momentum gauges, such as the monthly relative-strength index, which has been in an ascending trend since the post-Luna crash lows in June 2022. He noted that the indicator has room to climb further, suggesting that Dogecoin is still in the early stages of its rally.
Kevin's optimism is also supported by a macroeconomic environment that he believes is becoming more favorable for high-beta crypto assets. He cited expectations for US rate cuts, a deceleration in quantitative tightening, and an increase in global liquidity as factors that could drive an "alt-season," where alternative cryptocurrencies outperform Bitcoin. He also noted a downturn in Bitcoin dominance, which his desk called on 28 April at 65.45%, as a sign that liquidity is shifting towards altcoins.
Key chart landmarks remain in focus for Kevin, who cited a "perfect inverse head-and-shoulders" accumulation pattern that he entered at an average price of $0.15. He set sequential objectives at $0.48 and the previous all-time high near $0.74, with the $1 level following only if liquidity trends continue to improve and Bitcoin dominance "durably" breaks down. Kevin concluded that if monetary policy continues to ease, Dogecoin could realistically reach $1 by the end of the year.
Skeptics may point to Dogecoin's 2021 spike, fueled by social-media fervor and Elon Musk's "Saturday Night Live" appearance, as a one-off event. However, Kevin countered that the same Pi-cycle moving-average pair that predicted prior tops is "nowhere near crossing," implying that there is still headroom before the market becomes frothy again. He also noted that the shorter-term yellow average "won’t even start moving higher until Dogecoin hits 40 to 41 cents," leaving a notional 145% cushion between today’s price and $1 even in an advancing market.
While Kevin acknowledged the potential for parabolic targets circulating on social media, he urged viewers to treat the $1 mark as an ambitious but data-driven milestone rather than a guarantee. He emphasized that the goal is to make money, not to become emotionally attached to the outcome. With Dogecoin hovering near $0.25 at press time, the meme coin would need a four-fold rally to reach the psychologically significant $1 mark.
