Analysts Predict Dogecoin Price Could Hit $1 as Bullish Momentum Builds

TLDR

Table of Contents

Dogecoin price jumped 5% in 24 hours, rising from $0.205 to $0.2094 amid a 78% spike in trading volume.
Futures trading volume for DOGE surpassed $1.48 billion, marking the highest level this month.
DOGE broke above $0.205 and is testing the $0.213–$0.215 resistance zone with bullish momentum.
Analysts project DOGE could hit $1, mirroring its 2020 price pattern and chart structure.

Dogecoin’s price has moved higher in the last 24 hours, gaining over 5% and breaking above the $0.20 level. This comes as analysts and traders turn their attention to strong market activity and increased whale interest. Some experts say that the current price breakout may be the start of a larger rally that could see Dogecoin target the $1 mark in the long term.

The price rose from $0.205 to $0.2094 between July 13 and July 14, according to CoinMarketCap. At the same time, Dogecoin’s futures trading volume jumped above $1.48 billion, marking the highest point so far this month, based on data from CoinGlass.

Strong Trading Activity and Whale Accumulation Support Price Rally

The jump in Dogecoin’s price was supported by a major increase in trading volume, with data showing a 78% surge in 24 hours. This activity was driven by large investors, or “whales,” who continued to buy even as the price moved higher. CoinGlass also confirmed that futures volume climbed above $1.48 billion, which could be a sign of more investor interest.

Dogecoin held above the key support level of $0.205 despite some minor pullbacks. Strong buying pressure allowed it to close at $0.2094. This level was seen as a short-term target by traders, and holding it may give bulls the strength to aim for higher resistance points.

The broader crypto market also supported Dogecoin’s rally. Bitcoin reached a new high above $121,000, and total crypto market value grew to $2.4 trillion. This move encouraged a general bullish trend across altcoins.

Dogecoin ETF Fuel More Optimism

Market discussions around a possible Dogecoin ETF have gained attention among traders and analysts. Crypto commentator Kaleo mentioned hearing from unnamed sources that a DOGE ETF might be closer to approval than expected.

“If approved, it could change the way institutions view DOGE,” Kaleo noted on X.

Polymarket data shows that traders place the chances of a Dogecoin ETF being approved by the end of 2025 at 75%. This has added to the growing interest from both retail and institutional investors. The ETF rumors, along with increased whale buying and chart patterns, have added fuel to the current rally.

As long as these trends continue, traders will be focused on whether Dogecoin can break higher price zones in the coming days.

Analysts Target Dogecoin Key Resistance at $0.24 and Beyond

Crypto analyst Carl Moon, a well-known trader, said that the next important price target for Dogecoin is $0.24. “A move past the neckline at $0.24 could send DOGE toward $0.33,” he posted on X. He added that holding above $0.210 was key to keeping bullish momentum alive.

Another analyst, Trader Tardigrade, identified a chart formation known as an Ascending Broadening Wedge. Based on past movements, this setup often leads to large upward price moves. He suggested that Dogecoin could reach $1 over the long term if the current pattern continues.

Analysts are monitoring the $0.23 to $0.25 area as a near-term target for Dogecoin. If the price moves above this level, it may open the door for higher gains. However, dropping below $0.198 could break the current trend, according to technical charts.

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