- Dogecoin’s current price at $0.1543 shows 1.48% decline with strong bullish setup ahead.
- Analysts predict DOGE can touch $1.10 as early as 2025, based on good momentum along with technical indicators.
- Market activity indicates $586 million trading volume, reflecting building retail attention as well as ETF consideration.
Dogecoin (DOGE) may soon breach its previous all-time high as momentum builds. Analysts observe a strong setup, hinting at an imminent breakout. Although DOGE remains in a consolidation phase, current market conditions suggest a bullish move is on the horizon, potentially rewriting its price history.
Currently, Dogecoin is trading at $0.1543, with 1.48% decline for 24 hours building a symmetrical triangle—a pattern often indicating a big impending movement. Price bouncing off the lower side of the triangle indicates a likely bullish break above. Additional optimism is gained from futures market numbers, where open interest surged beyond $1.54 billion, indicating investor interest is rekindled.
DOGE Retests $0.13 With Bullish RSI Turn
Technical analyst Chris mentioned that an increasing rising channel from DOGE’s October 2023 low of $0.056. The channel tagged higher highs ($0.229 for March 2024, $0.484 for December 2024) as well as higher lows ($0.077 for February 2024, $0.08 for August 2024) indicating a well-defined upward pattern.
Chris indicates a retest of $0.13 precisely on the lower trendline where the weekly Stochastic RSI is turning higher. The Ichimoku cloud above $0.22 has turned into a support as well. His prediction maps out a near-parabolic trajectory potentially reaching $1.10 by late summer of 2025, reinforcing long-term bullishness.
Olivier, examining the one-day chart, represents a split short-term outlook. He observes a declining regression channel from the November 2024 peak of $0.484. In addition, a rounded base pattern projects a breakout window between May 5 and June 29, 2025, adding to the buildup narrative.
Analyst Predicts DOGE Rally to $5.60
The nearest support price is $0.1533. If DOGE cannot break out of it, it could go back down to $0.13. But breaking above $0.2175 would render the descending channel useless and constitute the coin’s first key higher high after many weeks. That price level could be DOGE’s way out of its downtrend into a continuous uptrend.
Despite trading 78.71% below its all-time high of $0.7376, Dogecoin continues to inspire bold projections. Analyst Dogegod predicts DOGE rallying to $5.60, citing falling wedge breakouts. Though details are scarce, the optimism reflects market confidence, echoed by Ali Martinez’s near-term $0.29 target.
The market evidence underpins the momentum. Trading volume rose 6% higher to $586 million, indicating increasing participation from retailers. In addition, DOEG tops altcoin demand for consideration of an ETF. Asset manager 21Shares recently filed for a spot Dogecoin ETF potential institutional flows from approval could propel DOGE’s growth forward.
Read More: Dogecoin Open Interest Rises to $1.55B; DOGE Price Rises