Dogecoin (DOGE) Price Could Rally To $0.27 If It Holds This Level

The Dogecoin price is in focus, having gained over 34% in the last seven days. Crypto analyst Rekt Capital has commented on the meme coin's current price action and highlighted a critical level it needs to hold above to sustain this bullish momentum and rally to $0.27.

The Dogecoin price is currently in focus following a recent downturn.

Indeed, the Bitcoin price has dropped to as low as $100,800 today, dragging altcoins alongside it.

As a result, DOGE had fallen to $0.22 from its intraday high of $0.25.

However, the meme coin is also at risk of suffering a correction due to the upcoming $100 million Dogecoin token unlock.

Token unlocks typically put selling pressure on an asset, which could lead to a significant price decline.

Despite the recent correction and upcoming token unlock, crypto analyst Crypto Kaleo has predicted that the Dogecoin price will still reach the psychological $1 level.

He stated that it is finally time for market participants to start paying attention again to the “king of memes” as it eyes a rally to this price level.

Interestingly, his accompanying chart showed that DOGE could even surpass the $1 level and rally to as high as $3.

Meanwhile, the rally to these price levels is expected to happen in the second quarter of this year.

In the short term, the $0.22 price level is the level to watch out for.

A Coingape market analysis also noted that a bearish reversal pattern suggests that DOGE may drop to $0.22 before a sustained rally.