Dogecoin's (CRYPTO:DOGE) accumulation phase has come to a close, signaling a potential rally toward the coveted $1 mark, according to crypto analyst Mikybull Crypto.

Mikybull Crypto predicts that Dogecoin has broken out of its accumulation phase and is poised for a parabolic surge upward, with $1 being the magnetic target.

The analyst's bullish stance aligns with sentiments shared by others in the crypto community, including DonAlt, who also sees the $1 milestone as achievable for Dogecoin in this market cycle.

With the meme coin gaining traction and renewed interest, fueled in part by endorsements from figures like Elon Musk, optimism about DOGE's future prospects remains high.

While uncertainties linger about the timing of Dogecoin's ascent to $1, the prevailing sentiment suggests that the meme-inspired cryptocurrency could realise significant gains in the near future.