In the volatile and often unpredictable realm of cryptocurrencies, Dogecoin has established itself as a stalwart presence, captivating the attention of investors, traders, and enthusiasts alike. With its distinctive branding and community-driven ethos, DOGE has navigated the ups and downs of the market with a resilience that belies its meme origins.
Recently, a significant development has unfolded in the DOGE price chart, as a key resistance level has been breached and flipped into support. This pivotal movement has sparked intense speculation about the memecoin’s potential trajectory.
In addition, the prevailing buzz surrounding the launch of Dogecoin exchange-traded funds (ETFs) has also added fuel to these speculations, with investors wondering what’s next for the dog-themed meme coin.
DOGE Awaits Major Breakout
Over the past year, Dogecoin’s performance has been marked by severe fluctuations. Initially, from November 2024 to February 2025, the token exhibited a positive trend, showcasing promising growth. However, since March, the price has taken a bearish reversal, consolidating within a narrow range. This period has left investors and analysts closely monitoring the market, eagerly awaiting a breakout or a clear direction for the crypto’s future movement.
Considering DOGE’s performance over the past month, the token started exhibiting positive signals, surging from a monthly low $0.2061 to a high of $0.2938. Soon, the token began plummeting, but it is still above the negative line.
At press time, DOGE is trading at $0.2388, down 1.37% in a day and 8.1% in a week. Despite these dips, the crypto has seen a surge of 3.5% over the last 30 days. Driven by this overall negative trend, investors are taking a cautious approach towards the meme coin, which is evident from the declining activity. Over the last 24 hours, the trading volume has plummeted by a massive 44%, reaching $3.01 billion.
However, the current price point sparks optimism about the meme token’s potential uptrend. In a recent X post, Trader Tardigrade, a prominent analyst and crypto trader, shared a bullish prediction for DOGE. In a DOGE/BTC chart, he highlighted the critical resistance level at $0.00000210. While the crypto is currently dipping towards the resistance line, a break past the level could flip it into support, taking DOGE into new heights.
In a separate analysis, Trader Tardigrade identified that the memecoin is currently at a three-month support trendline. As per his findings, if the cryptocurrency manages to break past the critical $0.26 level, it could hit $0.33 before the onset of October.
At the same time, Crypto Tony, a prominent voice on the X platform, forecasted that Dogecoin is poised for five waves in its current trajectory. While the token is currently at Wave 4, where the price is around $0.23, the analyst predicts that it will continue its downward trend to reach its support at $0.21.
However, he is optimistic about the memecoin’s further uptrend, where Dogecoin is poised to break past the support and reach $0.26 in October.
Is $1 Target Possible?
Another prominent analyst, Mags, projected DOGE’s possible rally to $1, citing historical trends. He predicted that the cryptocurrency is on the verge of a sharp surge. But he added that a few doubt his claim that DOGE could hit $1. Clarifying doubts, he pointed out that a 3.3x increase from its current price would be sufficient to reach this target. He further drew a parallel to 2020, when he shared his bullish views on Dogecoin just before it skyrocketed 170x, despite widespread skepticism at the time. He added, “See you at 1$.