TLDR:
- Dogecoin breaks multi-month resistance and now trades above $0.208 with strong volume.
- Analysts target $0.70, $0.83, and $1 using Fibonacci extensions and cycle analysis.
- Ichimoku cloud breakout and rising volume indicate renewed market demand for DOGE.
- Historic pattern suggests DOGE is in final buildup phase before a potential explosive move.
Dogecoin has flipped a key resistance level, opening the door for what traders believe could be a major price move.
The meme token is gaining momentum after weeks of consolidation and now shows technical strength on multiple indicators. Analysts are pointing to a fresh breakout that may push DOGE toward new highs in the coming months.
The $0.20 level has now become a key support zone. As DOGE trades above $0.208, attention is turning to the next major price targets on the chart.
Dogecoin Breakout Above Resistance Fuels Bullish Outlook
Technical analyst Chris referred to the move as a “Big Beautiful Breakout,” noting that DOGE has pushed through a long-term descending resistance line. This trendline had held since previous highs but has now been breached on strong daily volume.
This is the "Big Beautiful Breakout" in my opinion that sends $DOGE up to make a new ATH and higher high price target, eclipsing the Dec 2024 highs.
I think this move has a chance to wick up to that $1 psych level as well.
Hold the bag and sit on your hands the next 1-2 months. pic.twitter.com/ARyh2s0MQZ
— Chris (@StonkChris) July 16, 2025
According to Chris, the setup could carry the price toward new highs beyond those seen in December 2024.
He mentioned that the $1 mark remains a psychological target, with interim price levels at $0.70 and $0.83 marked using Fibonacci extensions. These targets coincide with a shift in the broader market trend, as DOGE holds above both the breakout level and Ichimoku cloud support.
Dogecoin’s price action is currently trading well above its daily Ichimoku cloud, often viewed as a signal of strength. This shift comes after a consolidation phase, where buyers gradually built pressure under key resistance. The chart now reflects renewed interest and demand.
Volume has also risen, signaling that traders are stepping back in. The 1.618 and 2.0 Fibonacci levels remain watched as clear zones where price may stall or accelerate.
Analysts See Pattern Repeating Across Cycles
In a separate observation, the team at Bitcoinsensus pointed out that DOGE is repeating its historical cycles.
$DOGE CYCLICAL PATTERN REPEATING
#Dogecoin has been forming the exact same geometrical patterns throughout each of its past cycles.
Last cycles we saw these following returns :
We're currently in that final blue phase before the blow off top
— Bitcoinsensus (@Bitcoinsensus) July 16, 2025
Previous moves saw exponential returns once the final setup phase completed. According to their analysis, the current structure looks similar to patterns before earlier breakouts.
They believe the token is now entering the last buildup phase before a larger upward move. This matches the 1–2 month holding window that Chris also mentioned.
At the time of writing, DOGE trades at $0.2088, up 6.22% in the last 24 hours per CoinGecko data. Its seven-day gain stands at 15.89%, reflecting growing interest. Trading volume now exceeds $9.4 billion, suggesting DOGE has returned to the spotlight.
Traders are watching closely to see if price holds above $0.20. If it does, the next targets near $0.70 and beyond could come into play sooner than expected.
The post Dogecoin Price Setup Could Send the Memecoin to $1: Here’s the Outlook appeared first on Blockonomi.
Source: https://blockonomi.com/dogecoin-price-setup-could-send-the-memecoin-to-1-heres-the-outlook/