Go $DOGE, GO! The paths to $1 in Q2

6 may 2021

As I see it, there is no question that DOGE will end up breaking $1, and it's easy to find people that say this will happen in 2021, but I wanted to make a shorter-term call with the current momentum we've seen.

Path #1: The SNL Path

Obviously, Elon hosting SNL and the hype around a DOGE skit have been the driving force this week. There have been several other key events such as the MLB selling its first tickets for DOGE, Amazon considering accepting it as a form of payment, and the endless social media coverage that it's receiving. (TikTok, Clubhouse, and everywhere else.) Assuming that this momentum carries into and through the weekend, $1 is literally an hour away at any moment the way it's performed on its last jumps.

Path #2: The Early Summer Path

If this weekend turns out to be another 4/20 bust, it's certainly not over. Increased access (new exchanges), acceptance (Amazon, Dallas Mavericks, etc), and exposure (sOcIaL mEdIa) will catch any fallout from this weekend. Many people are setting limit orders between $.95-$1 so you can expect a lot of resistance once it approaches. It's 50/50 if it blasts through or succumbs to the pressure. They say to buy on the rumor, sell on the news. SNL is the news right now and the Dogefather is the rumor.

What to watch out for: There are 12 wallets holding 46% of all DOGE and if/when any/all decide to take profits, hold on to your ass. One whale will set off a chain reaction but there are just as many people on the sidelines with powder ready to jump in on the dips.

Path #3: Q3/Q4

It's been pretty consistent that DOGE has come and gone from the limelight. That said, if we somehow manage NOT to hit $1 in Q2 and it holds somewhere above $.30, there's no telling what news/events/endorsements may occur in the latter part of the year that continues the saga. Needless to say, unless something very bad comes out about DOGE, I don't think even some whales cashing in will be its forever demise.

Dogespeed