According to CryptoPotato, Dogecoin (DOGE) has experienced a 10% weekly price decline following a broader market correction. This comes after a recent bull run that saw the cryptocurrency's value surge above $0.22 for the first time since November 2021. Despite the recent downturn, DOGE is among the worst-affected cryptocurrencies from the top 10 list.
Analysts predict that DOGE will soon rebound and rally towards new peaks. Crypto content creator, Trader Tardigrade, has compared the asset's price performance with that of previous years, setting future price tags at $2, $9, and even $40. They argue that the current cycle mirrors the first half of the last cycle, suggesting that history will repeat itself.
Another crypto enthusiast, Mayne, has also commented on DOGE's current market performance. They envision two possible scenarios: DOGE could lose support at around $0.18 and enter a larger correction, or bulls may step in and the upward trend could continue.
Rekt Capital and early Bitcoin adopter Davinci Jeremie have also outlined bullish forecasts for DOGE. Rekt Capital suggests that DOGE could rally toward $0.30 due to the beginning of a new macro trend, while Davinci Jeremie believes that the meme coin is an asset investors should include in their portfolios.