DOGE News: Analyst Predicts Potential Price Recovery for Dogecoin Above $0.3

In the world of cryptocurrency, predictions and speculations are rife. However, one particular prediction by a TradingView analyst has caught the attention of Dogecoin (DOGE) holders. Read on to find out more about the potential price recovery for this meme coin.

Dogecoin Price Prediction Suggests Breakout on Horizon

A TradingView crypto analyst, Moein Haddadian, has predicted that Dogecoin (DOGE) may experience a price recovery above $0.3. The analyst highlights key resistance levels, particularly the $0.25 price point, that must be cleared for such a recovery. Dogecoin has been trading within a downtrend for months but recent price action suggests a potential shift from bearish to bullish momentum, with the meme coin breaking above a descending trendline, signaling sellers may be losing control.

Strategist Predicts Dogecoin To Hit $1

There is no dearth of financial analysts predicting that Dogecoin will hit the $1 mark soon. The forecasts have been prevalent since 2020 after the meme currency kick-started a rally five years ago. DOGE hit an all-time high of $0.73 in May 2021 due to billionaire Elon Musk’s support. The Tesla CEO relentlessly spoke about DOGE through interviews and tweets, even hosting a Saturday Night Live show titled ‘The Dogefather’ to educate others about the cryptocurrency. However, despite recent bull runs, the maximum Dogecoin soared was $0.46 in December 2024, still below the $1 mark.

DOGE Mentioned in Government Spending Cut News

DOGE is aiming for massive cuts by the end of May. However, the following content primarily discusses a plan by Musk, classified as a special government employee, to achieve significant savings within 130 days from the start of Trump’s term. Musk aims to cut over half of the $1.8 trillion spent on non-defense discretionary programs in 2024 and reduce the government’s annual spending by 15%. These reductions are expected to be made without affecting critical government services.