Dogecoin One-Fifth of Way to $1 Price Milestone, Wen Moon?

Dogecoin has traded higher in the last 24 hours, now at $0.20, putting it one-fifth of the way to the long-held $1 target. Dogecoin, which launched taking influence from the famous Doge meme, is up 4.69% in the last 24 hours to $0.20 and up 16% weekly as traders and enthusiasts reignite discussions of a full-blown rally.

Popular crypto trader Kaleo declared on X, as regards the Dogecoin price: "Run it back to ATHs with haste."

That message, shared with his hundreds of thousands of followers on X, captures the growing sentiment that Dogecoin could be gearing up for another push toward its all-time high (ATH) near $0.737 on May 8, 2021.

With Bitcoin recently reaching all-time highs of $123,000 and altcoins entering bullish territory, meme coins are once again in the spotlight.

Wen $1?

For years, "Wen $1?" has been the Dogecoin community's rallying cry. The last time DOGE surged toward that target was in 2021, fueled by a wave of retail mania, celebrity support and social dominance. Many in the crypto community remain optimistic for a repeat.

If DOGE maintains momentum over $0.20 and breaks past resistance levels, the path to $0.50 and beyond may reopen. According to crypto analyst Ali, "Dogecoin (DOGE) continues to target $0.25 as long as it holds above the $0.19 support" in the short term.

Dogecoin may still be 80 cents away from the $1 milestone, but its recent surge to $0.213 suggests that the dog coin is not going away.

According to Swissblock, the altcoin market has recently broken out of a multi-month consolidation, signaling that altseason may have arrived. With an imminent altseason, Dogecoin might skyrocket to $1, a 400% increase from current prices.