Can Dogecoin Hit $0.1 in 2023? Not Before Sonik Coin Hits $1 Million

Dogecoin (DOGE) is the OG meme coin and has carried the banner planet crypto’s more playful side since its debut in 2013. But in the decade since, it has also been embraced by serious investors and has earned its place among the top ten cryptocurrencies in the world. 

Today, Dogecoin has an impressive market capitalization of nearly nine billion dollars, but its price has struggled in recent months. Currently trading at $0.063, it’s over 8% down over the last month and well below its all-time-high of $0.73. So, can Dogecoin overcome its struggles and finally hit $0.1 this year?

Let’s take a look at DOGE’s prospects and also another meme coin – Sonik Coin (SONIK) – that’s quickly making a name for itself after raising almost $400k in its presale.

Can DOGE Overcome Struggles & Hit $0.1?

For DOGE, so far in 2023, the $0.1 mark has proved an impossible ceiling to smash. The last time the meme coin traded above ten cents a piece was in December 2022, and at the time of writing, Dogecoin was trading at just $0.06.

However, considering historical data, a 60% increase in the price of Doge over the next four months wouldn’t be unprecedented. Consider, for instance, that between April and May 2021, the price of DOGE increased by over 1000% in less than a month to hit an all-time high of $0.736.

And if the wider crypto market rallies, analysts agree that Dogecoin is almost certain to shine. For example, James McMahon, who runs the YouTube Channel Crypto With James, has observed that Dogecoin will likely see “a pretty significant run in the next bull cycle.”

In fact, McMahon speculates that under the right conditions, the coin could surpass its previous all-time high price and even reach a dollar within the next eighteen months. Moreover, he said that “fifty cents or so is almost inevitable” within the same timeframe.

Dogecoin is famously associated with Elon Musk, who has often tweeted about the token, and rumors persist that the coin could be incorporated into X, following Musk’s rebranding on Twitter. If such a move were to come to fruition, DOGE could well see a significant price boom, seeing that the price has risen almost 10% simply due to Musk tweets in the past.

Despite the bullish outlook of analysts like McMahon, sentiment surrounding DOGE is generally pessimistic for its short-term prospects.

Data from TradingView shows that of 24 technical indicators, 12 suggest Dogecoin will fall in price over the next month. A further ten are neutral while only two point to price gains.

Based on a similar set of indicators, Coincodex forecasts that Dogecoin will trade within a range of $ 0.052958 and $ 0.169892 in 2023. At present, the cryptocurrency’s price is closer to the low end of that range. Nevertheless, the data suggests that DOGE is likely to fall from its current price before it starts to climb again.

Overall, the current market volatility makes it difficult to draw a definitive conclusion on Dogecoin’s prospects. However, while DOGE and other major meme coins struggle, the new Sonik token has been gaining the attention of traders over the past week and looks like it could be a high potential coin.

Could Sonik Coin be a Dogecoin Alternative? Presale Races to 400k with $1 Million in Sight

While Doge faces an uncertain future in the coming months, the Sonik Coin presale presents an opportunity to snap up a strong contender to be the next big meme coin at the low price of just  $0.000014.

Since its launch this month, early investors have already poured over $350,000 into the new token, and the presale looks set to smash through the $400,000 mark any day now, and has a target of $2 million with 12 days to go.

Due to the presale’s explosive start, Sonik Coin looks well placed to hit $1 million in the very neear future.

Considering the explosive growth of meme coins like PEPE, which have pumped to hundreds of times their presale value this year, Sonik Coin offers a potentially lucrative alternative to DOGE that could generate a serious return on investment. 

SONIK’s developers have set themselves the ambitious target of a $100 million market cap. Should they achieve their goal, presale participants will have multiplied their initial investment 24x.

But early investors won’t all be in a rush to start trading their coins once SONIK hits the open market. 

Of the total supply of tokens, 40% will be reserved for staking rewards. Unlike many meme coins, this provides an incentive for investors to hold onto their assets and could help stabilize the price of SONIK and protect it from dumps.

Interested traders can invest in the presale now with either ETH or USDT.

Visit Sonik Coin Presale