The article discusses the reasons behind the recent collapse in Dogecoin price and provides a forecast on whether it can make a strong comeback and reach $1 in the near future. The main reasons for the price decline are attributed to Bitcoin's stagnant price, investors selling the news, and a decrease in overall greed in the crypto market. The analysis suggests that Dogecoin may follow an Elliot Wave pattern, with the current decline being part of the second phase, and predicts that the third phase could lead to an all-time high of $0.7600 before a potential retracement. However, it acknowledges that this analysis is based on the weekly chart and further time will be needed for these patterns to fully form. Additionally, potential catalysts for a price increase include Dogecoin's recovery from previous crashes and the possibility of the SEC approving a spot Dogecoin ETF. The bullish outlook could be invalidated if the price falls below the key support level of $0.0835.



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