Crypto analyst, Ali Martinez, in a recent tweet, predicted that DOGE could hit $0.29 if it manages to stay above a certain price level.

However, if it drops below another support, the chances of a price increase are slim.

Right now, Dogecoin is priced at $0.16, but it has recently dropped to as low as $0.13 on April 9, according to CoinMarketCap.

But if the price rebounds and stays above $0.17, there’s a good chance the coin will rise to $0.29 soon.

> As long as #Dogecoin holds above $0.13, the chances of a price increase are pretty high.

If the bulls can push the price above $0.17 and maintain it, the next resistance level is at $0.29. A move above $0.13 would also increase the possibilities of a new yearly high.

Another well-known analyst, Javon Marks, has also made a bullish prediction for Dogecoin.

Marks believes that Dogecoin could even reach new all-time highs (ATH).

In a post, he said Dogecoin looks “ready to put on yet another magical bullish performance,” which could go up by 200% to 330% from its current price. This would push the price to a new ATH, higher than $0.73, which was the coin’s highest price back in May 2021.

"Still holding #Dogecoin at $0.13 (which is a strong support level). It looks ready to put on yet another magical bullish performance for a move of +200% to +330% to reach new all-time highs," he said.

Another analyst, Trader Tardigrade, also added to the optimism. He mentioned that Dogecoin has entered a special phase in a trading theory called Wyckoff Accumulation.

This theory shows that whales are starting to support Dogecoin, which could mean the price is ready to move up.

“Phase D indicates strong support, setting the stage for the next big price movement,” said Tardigrade.

Finally, the overall market sentiment for Dogecoin is looking good. While the Market Cap has dropped by 3.32% over the last 24 hours, its trading volume recorded today is up 38% to $1.06 billion.