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Popular trader IcedKnife <\/span>told<\/span> his 300K followers on X that DOGE seemed like the most obvious buy-and-hold play of the meme coin market. He then suggested the asset could reach new heights this cycle, with $1 being a \u201cvery likely\u201d price target for DOGE.<\/span><\/p>\n $DOGE seems like the most obvious brain dead spot buy and hold play I could think of<\/p>\n don\u2019t see a scenario where $DOGE doesn\u2019t see new highs this cycle, $1 is very likely imo<\/p>\n feel like this will be \u201cobvious in hindsight\u201d<\/p>\n time will tell pic.twitter.com\/TB3sdruK8g<\/p>\n \u2014 Iced (@IcedKnife) April 2, 2024<\/p>\n<\/blockquote>\n The trader\u2019s comments come after DOGE made headlines last week when it broke above the $0.22 barrier, a price not seen since November 2021. However, DOGE has retraced to $0.18 by today (April 3), which seems in line with most cryptocurrencies being in the red.<\/span><\/p>\n Echoing similar sentiments, popular analyst Ali Martinez <\/span>reminded<\/span> traders that DOGE remains the most important meme coin of the market, despite new entrants like dogwifhat (WIF) or Bonk (BONK) making headlines practically every day. <\/span><\/p>\n Further, Martinez said DOGE is mirroring the 2018 \u2013 2021 cycle, and if so, it could be on the verge of a \u201cmassive parabolic bull run.\u201d<\/span><\/p>\n Another popular figure in the crypto space made a similar statement but for DOGE\u2019s oldest and biggest competitor, Shiba Inu (SHIB). As <\/span>CryptoPotato<\/span> reported<\/span>, Davinci Jeremie, a famous Bitcoin proponent, suggested investors should allocate a certain percentage of their portfolios to SHIB.<\/span><\/p>\n Despite the current downturn, both DOGE and SHIB are trading on the green in the past 30 days, with increases of 19.5% and 20.4%, respectively. <\/span><\/p>\n\n
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