Dogecoin Price Prediction: Technicals Suggest a Rally to $1 as Market Recovers

Driving the Crypto Recovery: Dogecoin (DOGE) surges as meme coins spearhead market resurgence

Dogecoin price forecast: DOGE to $1 as whales buy in and technicals look good for big gains ahead.

The crypto market is recovering and the meme coin sector is leading the way. As we head deeper into 2025 Dogecoin (DOGE) is at the top of the pack, other memecoins like Shiba Inu (SHIB), Chill Guy and Andy Eth are gaining momentum, the sector is hot and getting hotter.

Meme Coin Market Explodes

In 2024 the meme coin market grew from $20 billion in January to $120 billion by December. Dogecoin and Shiba Inu were the foundation of this growth but newer tokens have been getting the spotlight and some have seen gains of 47,000%.

Memecoin market cap chart.Source:CoinMarketCap

This is due to strong community engagement, the virality of these tokens and platforms like Pump.fun that allow users to create and launch tokens fast. These platforms have opened up the crypto market to a wide range of investors and are fueling the momentum.

The meme coin trading volume has also recorded over 40% increase, outperforming the broader market’s average. Dogecoin and Shiba Inu are leading with big daily gains. The new meme coins Bonk (BONK) and Dogwifhat (WIF) have also brought in some juice to the sector with some tokens up 19% and more than many other traditional cryptos.

Top Memecoins. Source. Coin Market Cap 

Dogecoin, in particular, maintains a strong position, ranking seventh on CoinMarketCap with a valuation exceeding $54 billion. The recent spike in trading volume by nearly 20% in just 24 hours is currently at $9.16B.

Dogecoin gets political and celebrity backing

Elon Musk’s continued support for Dogecoin is driving the price. His involvement with the Department of Government Efficiency (DOGE) and Dogecoin during Donald Trump’s presidential campaign, which was all about pro-crypto policies, has really put Dogecoin on the radar for investors. The key price target for Doge has always been a dollar. Doge to $1 seems a certainty this crypto cycle.

Dogecoin (DOGE) is showing some strength in the market, currently trading at $0.3725. The Chaikin Money Flow (CMF) is at 0.05. That’s a buy signal. Over the past year DOGE has gone up 306.61% so it’s a top dog in the meme coin space.

DOGE/USD daily chart. Source: X

The daily chart looks good for Dogecoin. The 20 and 50 day SMAs are at $0.36 so that’s good support for the current price.Buyers are stepping up to test the next resistance at $0.43 and $0.45. If DOGE gets through those levels it could go to $0.49 according to historical price action.

Dogecoin (DOGE) is showing some serious strength right now and on-chain metrics are looking super bullish. As the market is processing the news of the new US admin and all the crypto projects, Dogecoin is getting more attention.

A recent report by Layerg found that officials in Trump’s admin have direct and indirect ties to crypto projects, similar to Elon Musk’s well known support of Dogecoin. This could be good for Dogecoin’s market, as political endorsements have always been a confidence booster for crypto assets.

Source: Coinglass

Dogecoin is being accumulated long term as shown by the long vs short ratio from Coinglass. Market cap is over $55 billion and the ecosystem is looking more and more stable. The meme coin market is growing, OFFICIAL TRUMP is over $11 billion, but DOGE is still leading the way.

Whale Activity and Market Dynamics Signal Strong Growth Prospects

Whales are really confident in the market, they have accumulated 1.83 billion Dogecoin (DOGE) in 2 days. Whale transactions are increasing and Dogecoin is holding steady at $0.37.

Despite new competition in the meme coin space like Donald Trump’s Official Trump coin, Dogecoin has a market cap of $55 billion. That’s a big number and shows strong market sentiment and high investor participation.

Dogecoin’s chart looks good from multiple technicals. Crypto analyst Ali Martinez points out DOGE is in a multi year ascending parallel channel and has a long term target of $15. The weekly chart also shows a breakout from a bullish pennant, a precursor to big upside.

DOGE technical chart.Source:@ali_charts on X

The RSI is at 53.60 so buyers are in control and will use $0.40 as a stepping stone to higher prices. Historical precedent is on their side too. DOGE went up 30x and 80x after the US presidential inaugurations in 2017 and 2021. If DOGE does even 1/10th of that it will go to $20.

Fibonacci retracement tools give us more clues. Popular analyst Surf on X thinks DOGE will go to $10 long term which is 2300% from current price.

That fits with Fibonacci trading, where support and resistance levels are based on mathematical sequences. If DOGE goes to $9 the market cap will be over $1.3 trillion and it will be the top dog in the meme coin space. Even machine predictions agree that doge can go to $1 and beyond.