The future direction of Dogecoin (DOGE) is a hot topic among crypto analysts as they speculate on where the popular meme coin is heading. One prominent analyst, Capt Toblerone, has been closely watched as his predictions have aligned with recent price movements of Dogecoin.

Expected 30% Price Decline for DOGE

According to Capt Toblerone’s analysis shared on X, Dogecoin is anticipated to undergo a 30% drop from its current value with a projected reload point at $0.108. Following this decline, he foresees a remarkable 1,300% surge in Dogecoin’s price, potentially reaching $1.5 in the future. This aligns with similar forecasts from other analysts, such as Ali Martinez and Kevin, who anticipate significant gains for the meme coin.

Despite the optimistic outlook, Pav Hundal from Swyftx highlights potential obstacles that could prevent Dogecoin from hitting the $1 mark. He points out that previous holders who bought Dogecoin at its peak might sell off once it reaches a new all-time high, potentially creating selling pressure that could impede its upward momentum. Additionally, the increased availability of other meme coins in the market could affect Dogecoin’s liquidity.

Counter to this view, analyst Rekt Capital remains optimistic about Dogecoin’s cyclical nature and expects it to follow past patterns, leading to a parabolic price surge as seen in previous cycles.

Predictions on Dogecoin Dropping to $0.10

Another analyst, CrediBULL Crypto, forecasts a potential drop for Dogecoin to $0.10, with an interim rise to $0.18 before the anticipated decline. This analyst also predicts downward trends for other meme coins like Pepe (PEPE) and Dogwifhat (WIF) due to their recent rally performance.

Currently, Dogecoin is trading around $0.16, showing a 4% increase in the last 24 hours based on data from CoinMarketCap.