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After trading in a relatively quiet range for much of April, Dogecoin has started May on a good note. The meme coin has surged over 33% this week, pushing above the $0.22 level due to a new wave of bullish momentum among retail and institutional traders.
Amid this recovery, technical indicators are flashing a familiar signal that has led to massive price increases for Dogecoin since 2024. The latest analysis from popular crypto chartist Trader Tardigrade has brought attention to a possible inflection point: a bullish MACD crossover on the weekly timeframe.
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MACD Signal Returns, Points To Explosive Upside For Dogecoin
Due to its performance since October 2023, the MACD (Moving Average Convergence Divergence) indicator has become a valuable tool for spotting momentum shifts in Dogecoin’s price cycles. It is now flashing bullish once again. The crossover, where the MACD line crosses above the signal line, has coincided with the beginning of powerful uptrends since the current cycle began in Q4 2023.Â
According to Trader Tardigrade’s chart, the last two confirmed MACD crossovers on the weekly timeframe led to rallies from $0.06 to $0.23 and from $0.086 to $0.48, respectively. Each of these rallies followed a period of deep corrections, conditions similar to what Dogecoin has witnessed since March 2025.
The first MACD crossover in this cycle was in October 2023, which resulted in a 285% rally. The second MACD crossover was in September 2024, which led to an even bigger rally of about 460%, during which Dogecoin surged to multi-year highs of $0.48.
The chart also reveals that these MACD crossovers occurred after a rounded bottom pattern. The current price structure looks like that setup, with a higher low rounded bottom and the blue MACD line about to cross to the upside of the orange line.
This lends strong credence to the notion that Dogecoin could be on the cusp of another rally, particularly as the overall crypto market sentiment is now positive following Bitcoin’s break above $100,000 again.
Image From X: Trader Tardigrade
Eyes On $1: Can MACD Rally Repeat One More Time?
Now that the MACD crossover is almost underway, the obvious question is whether this can cause Dogecoin to finally reach the elusive $1 mark.Â
The projected $1 target lies on a long-term ascending resistance trendline that guided the $0.23 and $0.48 tops this cycle. If the pattern holds, and Dogecoin’s MACD crossover plays out as it has in the past, the meme coin might be currently at the start of a third impulsive move. The analyst’s chart draws a projected trajectory that extends toward $1 by mid-year, following a path similar to the other rallies.Â
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Achieving the $1 target would require a price surge of about 335% from current levels around $0.23. At the time of writing, Dogecoin is trading at $0.2335, up by 3.4% in the past 24 hours and an intraday high of $0.2569.
Featured image from Unsplash, chart from TradingView