Renowned cryptocurrency trader “WSB trader Rocko” claims that it's unlikely for Dogecoin to trade below $0.40 from now on. After weeks of uncertainty, as the inauguration of President - elect Donald Trump approaches, the cryptocurrency market seems to be heating up again. Amid the hype, investors appear to be increasingly optimistic.

 

In the latest example highlighting this, a closely - watched market analyst suggests that the leading meme cryptocurrency, Dogecoin (DOGE), could reach a coveted milestone within the next two weeks.

 

The claim by renowned cryptocurrency trader “WSB trader Rocko” that Dogecoin is unlikely to trade below $0.40 from now on has stirred excitement. “The last chance to buy DOGE below $0.40,” the trader posted enthusiastically on X on Thursday, December 16.

 

WSB trader Rocko expressed this view as they claim that DOGE has a 60% chance of reaching the long - sought - after $1 price point by the end of January 2025.

 

The analyst bases this optimism on the double - bottom structure on the daily candlestick chart of the dog - themed meme coin. They believe that this formation has two potential targets: the first is above the asset's all - time high of $0.73, and the second is at the $1 price point.

 

Beyond the chart, WSB Trader Rocko pays tribute to Dogecoin enthusiasts and Tesla CEO Elon Musk as catalysts for the advancement, given his involvement with Donald Trump's proposed establishment of the Department of Government Efficiency. The billionaire seems to have linked the fate of the meme coin to the working group, nicknaming the latter D.O.G.E.

 

On Thursday, renowned cryptocurrency analyst Ali Martinez also suggested that Dogecoin could start the second phase of its parabolic run as soon as next week, citing its price movement during the 2021 bull market. This rally would also coincide with the inauguration of President - elect Donald Trump.

 

Ali Martinez had previously predicted that DOGE could soar to a price point of $23 during the current market cycle.

 

However, at the time of writing, DOGE is still trading below $0.40, at $0.3858, having increased by nearly 2% in the past 24 hours according to CoinMarketCap data, but still has a long way to go to reach the analysts' targets.