Dogecoin Price To Hit $2.4 Amid Crypto Market Rally

Dogecoin price has rallied nearly 30% today, with its trading volume skyrocketing, signaling growing investors' confidence in the crypto market.

Dogecoin price surged nearly 30% today, continuing its impressive rally in recent weeks. The DOGE price surge also comes amid a broader rally in meme coins, with several dog-themed meme coins posting double-digit gains.

Moreover, a top market expert predicts Dogecoin price to hit $2.4 next, sparking renewed hopes among traders toward the digital assets.

Dogecoin Price To Hit $2.4 Amid Crypto Market Rally

Dogecoin price has been on a roll lately, surging nearly 30% today and continuing its impressive rally in recent weeks. The DOGE price surged to hit $0.18 earlier today, continuing its upward trend after bottoming out at $0.13 last week.

Moreover, the DOGE price surge also comes amid a broader rally in meme coins. Several dog-themed meme coins, including Shiba Inu (SHIB), Floki Inu (FLOKI), and Dogelon Mars (ELON), posted double-digit gains in the past 24 hours.

Amid this rally, a top market expert Ali Martinez shared a bullish outlook for the crypto. In a recent X post, Martinez shared a price chart for DOGE and said that the crypto is likely to hit $2.40. Fueling further optimism, the analysis even noted that the top meme coin might target $18 next after hitting the brief $2.40.

Here's the X analysis by Ali Martinez:

Dogecoin’s last all-time high was $0.74, which it hit in May 2021. However, the meme coin surged to an all-time high of $0.007 in 2014 before the meme coin hype.

Moreover, the recent Dogecoin price surge also comes as the global crypto market cap hit the $3 trillion mark again. The last time the crypto market cap was valued at over $3 trillion was in November 2021.

From a technical perspective, the Dogecoin price is currently trading above the 50-day moving average (MA) and the 200-day MA, both indicating a bullish trend. The next key resistance level for DOGE is at $0.20, followed by $0.24.

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