Dogecoin is once again catching the market’s attention after a powerful move that suggests its long period of dormancy might be over.
The meme coin jumped 14% on July 18, trading at $0.248, and its latest chart pattern hints at the possibility of a historic rally.
After months of tightening price action, DOGE has broken out of a symmetrical triangle that had held since late 2023. Market analysts are now eyeing a potential surge that could take the coin up to $1—representing nearly 4x growth from current levels. The weekly candle has already confirmed the move, gaining 23% in the last seven days alone.
Technical indicators are starting to shift in favor of the bulls. The RSI is climbing steadily, signaling growing buyer strength, while the Awesome Oscillator has flipped green—a key sign that bearish momentum is losing steam.
But price action isn’t the only thing working in Dogecoin’s favor. Institutional interest is heating up as Bit Origin, a crypto firm listed on Nasdaq, recently raised $500 million to build a DOGE-focused treasury fund. The capital will be used both to accumulate coins and expand development in the Dogecoin ecosystem.
Meanwhile, bets are rising that a spot Dogecoin ETF could be around the corner. Forecasting site Polymarket now shows an 80% probability of ETF approval, with the SEC’s next major decision due in September. This wave of optimism is drawing in both long-time supporters and new capital, putting DOGE back on the radar as a top-performing altcoin.
A weekly close above $0.21 would further confirm the breakout, and if momentum continues, the long-awaited $1 milestone may finally be within reach.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/dogecoin-price-prediction-here-is-what-can-be-expected/