Ignoring recent downsides, a popular cryptocurrency trader on Thursday reiterated their bullish forecast for Dogecoin DOGE/USD this year.
What Happened: Trader Tardigrade, noted for recognizing patterns and forecasting price movements, expressed confidence that the dog-themed cryptocurrency will reach the $1 milestone sooner or later.
“Retracement often occurs before a massive spike,” the trader stated, urging their followers not to read too much into the ongoing correction.
Dogecoin hit a yearly peak of $0.46 in Dec. 2024 but has since dropped nearly 30%. Over the last month, the coin was down 16%.
In a separate analysis, Trader Tardigrade set price targets of $2 for the 2025 cycle and $8 for 2028, advising long-term holding of DOGE for substantial gains.
That said, Trader Tardigrade was not alone in the bullish optimism. Another widely followed analyst, Javon Marks expected DOGE to continue a “massive” bull cycle.
“All Time Highs in another near +120% move can be coming in any moment now and even then, could have much, much more to go…,” Marks made a bold prediction.
See Also: US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto
Why It Matters: These bullish outlooks stood in stark contrast to some other analyses that foresaw a potential dip in Dogecoin’s value.
Renowned Dogecoin analyst Kevin expressed a bearish sentiment on Dogecoin, stating, "If BTC doesn't bounce, then this probably has lower to go before finding a bottom."
Derivatives traders were positioned long for Dogecoin. Over 82% of traders on Binance expected the leading meme coin to rebound in the days ahead, according to the Long/Short Ratio.
Morever, popular blockchain analytics firm IntoTheBlock gave a “Mostly Bullish” signal for the cryptocurrency at the time of writing, as opposed to “Mostly Bearish” for Ethereum ETH/USD and Cardano ADA/USD.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3264, down 3.87% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin was up 0.55%, compared to nearly 273% in gains in 2024.
Read Next:
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
