Can Dogecoin Hit $1 Before the Current Market Upswing Exhausts Itself?

Kevin, an independent strategist known online as Kev Capital TA, delivered a 13-minute market update on Sunday focusing on Dogecoin's prospects.

What Went Up Can Go Up Again

The spring rally in Dogecoin has naturally reignited a perennial retail question: can the world’s best-known meme coin break the $1 barrier before the current market upswing exhausts itself?

Kevin answered with an unequivocal “yes,” pointing to a confluence of long-term Fibonacci targets, momentum indicators and a macro backdrop he believes is finally turning supportive for high-beta crypto assets.

“Can Dogecoin hit $1 this cycle? The answer is yes, it absolutely can,” Kevin told his followers at the outset of the video. He argued that Dogecoin is now in its third major cycle and has historically advanced to the 1.618 Fibonacci extension on the monthly chart. That extension currently sits at roughly $3.80, “well above a dollar,” he noted, while stressing that citing the level is “not a price call” but a way to frame upside potential.

Kevin's conviction rests on momentum gauges that, in his reading, show Dogecoin barely warming up. On the monthly relative-strength index, he traced an ascending trend that has been intact since the post-Luna crash lows in June 2022. “We hit roughly 50 cents with the monthly RSI at 75,” he said, adding that in prior cycles the indicator climbed to at least 89.4. “Look how much room we have to go.” A fresh bullish crossover in the monthly stochastic oscillator would, in his view, confirm the move.

Dogecoin Price Reaches New Highs After Cutting Through Key Resistance Levels

The analyst also linked Dogecoin's prospects to a macro mix he characterises as increasingly benign: expectations for US rate cuts, a deceleration in quantitative tightening and a rise in global liquidity. He contended that these forces, coupled with a downturn in Bitcoin dominance that his desk called on 28 April at 65.45%, create the conditions for a classic “alt-season.”

“Altcoins are oscillators to Bitcoin… monetary policy being easier on the economy is what drives that liquidity into the