Crypto analyst Kriss Pax has expressed bullish sentiments for Dogecoin (DOGE), suggesting the meme coin could soon experience a significant price surge. Pax, in a recent YouTube video, indicated that DOGE might bounce back strongly from its current price levels, presenting a favorable opportunity for investors to buy before an anticipated recovery. He interpreted the recent market downturn as potentially the final downturn before a broader crypto market rebound.

Pax attributed his optimism partly to the upcoming trading of Spot Ethereum ETFs, which he believes will catalyze positive momentum not only for DOGE but for the entire crypto market. Additionally, Pax pointed to the Relative Strength Index (RSI), which he views as signaling bullish potential for DOGE. He also noted that altcoin dominance has been rising following a decline in Bitcoin's dominance, which sets a positive backdrop for Dogecoin's prospects as well as other alternative cryptocurrencies.

Highlighting historical trends, Pax referenced a bullish crossover on the Moving Average Convergence/Divergence (MACD) during the 2020 altcoin season, suggesting a similar setup could occur again soon. He emphasized that DOGE currently appears undervalued based on metrics like market value to realized value (MVRV), reinforcing his recommendation to consider buying at this juncture.

Pax's analysis coincides with a notable increase in Dogecoin's trading volume over the past 24 hours, as reported by Coinglass. Despite recent market fluctuations that saw DOGE drop to around $0.11, Pax and other analysts, like Kevin (formerly OG Yomi), believe Dogecoin remains within a broader bullish trend structure. Kevin highlighted that as long as DOGE maintains a weekly close above $0.10291, it could potentially reach as high as $3 during this market cycle.

As of the latest update, Dogecoin is trading around $0.12, marking a modest increase of over 4% in the past day, according to CoinMarketCap data.