A prominent cryptocurrency analyst has recently said that the price of the leading meme-inspired cryptocurrency Dogecoin ($DOGE) could surge over 1,000% to trade at $1.6 in the future as it breaks out of a Falling Wedge pattern.

Analyst suggests Dogecoin could hit $2.27 or higher, referencing its past success in surpassing the 1.618 Macro FIB extension.

Dogecoin has been a center of attraction lately as on-chain metrics are becoming favorable, indicating signs of an impending bullish run.

DOGE breaks descending resistance, signaling bullish potential. Wave structure suggests an upward move to $0.144. Support above $0.10 is crucial for the bullish trend. DOGE

The Dogecoin price dropped 4% in the last 24 hours to trade at $0.1226 as of 3.10 a.m. EST on trading volume that slumped 40% to $877.3 million. While the world’s oldest and largest meme coin is still more than 14% in the green on the 7-day chart,