Dogecoin experienced a rebound this week, rising above $0.16 after hitting $0.142.
Analysts suggest that Dogecoin's recent bounce off long-term support could lead to a significant rally, potentially hitting $1 in July.
Market watchers point to a rising pattern of higher lows, indicating a possible move towards $1.40, a 740% jump from current levels.
While experts forecast short-term gains for Dogecoin, critics warn of risks due to its reliance on community enthusiasm and lack of fundamental backing.