According to CryptoPotato, renowned trader IcedKnife recently shared his optimistic outlook for Dogecoin (DOGE) with his 300,000 followers. He suggested that DOGE is the most obvious buy-and-hold play in the meme coin market and predicted that it could reach a price of $1 in the current cycle. This prediction comes after DOGE broke past the $0.22 mark last week, a price it hadn't seen since November 2021. However, as of April 3, DOGE has fallen back to $0.18, reflecting the general downturn in the cryptocurrency market.
Analyst Ali Martinez echoed IcedKnife's sentiments, stating that despite the emergence of new meme coins like dogwifhat (WIF) and Bonk (BONK), DOGE remains the most significant player in the market. Martinez suggested that DOGE is following a similar pattern to the 2018 – 2021 cycle and could be on the brink of a 'massive parabolic bull run'.
In a similar vein, Bitcoin proponent Davinci Jeremie recommended that investors allocate a portion of their portfolios to Shiba Inu (SHIB), DOGE's main competitor. Despite the current market downturn, both DOGE and SHIB have seen increases over the past 30 days, with gains of 19.5% and 20.4% respectively.