Dogecoin Price Eyes $1 After Bullish Breakout Signals Flash Again

Key Insights:Dogecoin posts 38% monthly gain, strongest performance of 2025.Weekly MACD crossover signals potential breakout to $0.65–$1 range.Buyer-led spot volume suggests strong accumulation and reduced sell pressure.Dogecoin (DOGE) has posted its strongest monthly performance of 2025, gaining 38% so far in May. The surge tracked Ethereum’s rally and came as Bitcoin approached a new all-time high.Data from CoinGecko showed DOGE recorded $4.7 billion in trading volume over the past 24 hours, ranking fifth among non-stablecoin assets. That puts the memecoin ahead of competitors in terms of short-term market activity, reinforcing growing interest from traders.Aggressive Buying Volume ResurfacesOn-chain data points to increased accumulation from retail and institutional wallets. According to CryptoQuant, Dogecoin’s 90-day spot taker cumulative volume delta (CVD) has flipped buyer-dominant, indicating more aggressive buys than sells.DOGE spot taker CVD. Source: CryptoQuantThe last time this metric showed buyer dominance was in Nov. 2024. Back then, DOGE gained 385% within a few weeks, peaking at $0.48 by year-end. Analysts now interpret the current CVD uptick as a precursor to similar price action.DOGE long-term holder NUPL. Source: GlassnodeDogecoin’s long-term holder net unrealized profit/loss (NUPL) metric has also crossed 0.5 for the first time since March. This suggests that most long-term holders are in profit, reducing their likelihood to sell, according to Glassnode. Historically, such conditions favor price stability and potential rallies, as investors tend to hold rather than take profits.MACD Bullish Crossover Flashes AgainTechnical analysts have zeroed in on Dogecoin’s weekly moving average convergence divergence (MACD) crossover.DOGE/USD 1-day chart. Source: TradingViewAccording to Bitcoinsensus, Dogecoin is on the verge of completing its third bullish crossover since 2024. Previous instances coincided with price surges of 165% and 330% respectively.The analyst noted: “This signal is now flashing with price being much higher than the last 2 times.” Based on past performance, the next upside target could reach as high as $0.72, with the possibility of testing the psychological $1 mark.Chart Patterns and Breakout Signals IntensifyTrader Tardigrade shared a new technical pattern forming on Dogecoin’s 4-hour chart. “New Bull Pennant has been established on the $DOGE H4 chart,” the trader wrote on X. The projected target from the breakout stands at $0.37.Source: Trader Tardigrade/XIn a separate analysis, Tardigrade drew attention to the DOGE/BTC pair, which is replicating a setup that led to Dogecoin’s historic 30,000% rally in 2021. The analyst highlighted that the pair’s formation could imply another breakout phase if Bitcoin stabilizes.Source: Rekt Capital/XMeanwhile, Rekt Capital noted that DOGE is retesting its pre-halving resistance as new support. “Hold green and at least $0.27 would be next,” the analyst posted, referring to the zone acting as a local support level.The cumulative effect of these signals supports the bullish momentum in Dogecoin’s chart structure. The convergence of multiple indicators gives traders a broader basis for short-term bullish bias.Analysts Target $0.65 to $1 Based on StructureCrypto trader Javon Marks also weighed in, projecting that DOGE is preparing for another steep leg up. “$DOGE now showing MAJOR STRENGTH after setting Higher Lows!” Marks posted. He identified $0.6533 as a realistic upside target, calling for a potential 180% rally.Javon Mark/XMarks added that prices could break even higher, bringing $1 into view. That would mark Dogecoin’s first return to that level since its 2021 bull cycle.DOGE currently trades around $0.28, which remains above the $0.25 resistance zone flipped during the early May breakout. With Bitcoin and Ethereum showing signs of consolidation, traders now look to DOGE as a possible high-beta play amid the broader market rally.With multiple bullish indicators flashing across the weekly and 4-hour timeframes, analysts argue that the memecoin could be gearing up for a breakout toward $0.65 or even $1. Whether these setups confirm, however, will likely depend on Bitcoin’s short-term consolidation and broader sentiment in altcoin markets.DisclaimerIn this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.Moses KThe post Dogecoin Price Eyes $1 After Bullish Breakout Signals Flash Again appeared first on The Market Periodical.