After a profitable performance in May, Dogecoin and other dog-themed meme coins are targeting higher gains in June as the crypto summer rally kicks off.
Most dog-themed meme coins, including Dogecoin, enjoyed a strong rally in May after experiencing a correction in April. With the crypto summer heating up, many altcoins, including these popular meme coins, are expected to see significant rallies in June. The excitement is palpable, with numerous predictions favoring a dominant performance by dog-themed coins next month.
Dogecoin Price to Surge to $1 in June
Dogecoin, the most popular dog-themed meme coin, is set for a potential 700% price rally, according to crypto trader Mags. In a recent post, Mags predicted that Dogecoin could surge beyond $1 before the end of the current market cycle. Mags had accurately predicted a previous Dogecoin bull run that saw a 170x increase in price, and now he is forecasting a 7x gain. If this prediction holds true, DOGE could trade around $1.17, up from its current price of $0.1671.
Other analysts share similar bullish sentiments for Dogecoin. Popular crypto analyst Ali also foresees the price approaching the $1 mark. Capt Toblerone predicts a 1300% rally, potentially pushing DOGE to $1.5, albeit with a possible dip to $0.108 first. Increased whale activity further supports these predictions, with data from IntoTheBlock revealing a 2.64% increase in large transactions, indicating strong accumulation by large investors.
Impact on Other Dog-Based Meme Coins
The bullish outlook for Dogecoin is expected to influence other dog-themed meme coins such as Shiba Inu, Floki Inu, Dogwifhat, and BONK. Their price charts also indicate bullish trends for the coming days.
Shiba Inu (SHIB): Known as the “Dogecoin killer,” Shiba Inu has made significant gains over the years. A notable recent event saw a trader turn $2,700 into $1.1 million over 3.5 years, highlighting the potential for substantial returns. Increased whale activity has boosted Shiba Inu, with large transactions surging by 290%, pushing SHIB’s price to $0.00002607 before a brief dip. However, bullish sentiments are expected to drive further gains.
FLOKI: FLOKI has already seen an 11% gain in the last 24 hours due to Coinbase’s announcement of perpetual futures trading for the coin. Currently trading at $0.0003019, FLOKI is just 12% away from its all-time high and is projected to reach $0.00058 in June.
BONK: BONK has experienced a 12% price surge, bringing it close to its all-time high of $0.00004704. After a week of correction, BONK has turned bullish, currently trading at $0.00004163 following a 64% increase. Analysts believe BONK could rise as high as $0.00008321 in the coming days if the trend continues.
Conclusion
With similar bullish predictions for other dog-themed meme coins, June is shaping up to be a promising month for these assets. As technical indicators continue to reveal favorable investment opportunities, Dogecoin and its counterparts are gearing up for a potentially significant rally in the crypto summer.
