Many Bullish Signals are Pointing to $1 for Dogecoin

Although Dogecoin (DOGE) is still struggling below the $0.20 threshold, the loyal investor community of this meme coin still hopes that DOGE will one day reach the $1 mark. In recent days, Dogecoin has shown significant improvement, rising 2.1% in the last 24 hours and recording a 17% increase over 7 days, despite the current price still being quite low. Technical setups are indicating that Dogecoin may be preparing for a larger breakout, potentially realizing the $1 dream. According to Asghar's analysis chart, Dogecoin is forming a bullish flag pattern, and a breakout of this pattern could lead to a rapid price increase to the $0.22 region. Asghar believes that the current pattern is signaling "the shining moment of Doge" and that Dogecoin is ready to "go straight to the moon." The chart also indicates that DOGE is trading in a gradually rising (bullish channel) established since 2024. After a recent correction, the price of Dogecoin seems to have found solid support at the lower boundary of the price channel. According to technical analysis, from this bounce point, Dogecoin could move towards the $0.44 level in the short term, and using the Fibonacci extension indicator 1.618, Asghar predicts that the long-term target could reach $1.09. These setups suggest that if the upward momentum continues to be maintained, Dogecoin reaching the $1 level is no longer technically far-fetched. In addition, the famous trader Tardigrade, an expert in analyzing and trading Dogecoin, has also noticed a bullish MACD crossover signal on the 3-day chart. In his assessment, he stated that Dogecoin has ended the previous correction and this MACD crossover confirms a positive reversal. The price structures on lower time frames are also aligning with this upward momentum, preparing for a sustained rally. The MACD chart shared by Tardigrade shows that there have been three previous occasions when Dogecoin made a strong breakout after similar crossovers. After each MACD crossover, Dogecoin typically experiences price increases that last for several weeks. With the recent positive price action, Tardigrade expects Dogecoin to experience a strong rally, potentially surpassing the $1.30 mark if the current momentum is maintained. This prediction aligns perfectly with the historical growth phases that Dogecoin has undergone. Currently, the price of Dogecoin is trading at $0.1862. A breakout and a decisive close above the $0.20 area, along with a general recovery of the crypto market, will be key factors helping Dogecoin quickly move towards the $1 target.