Dogecoin Price Prediction: Explosive On-Chain Volume Suggests a Big Move Ahead – $1 in May?

As trading volume doubles this week to surpass $1.15 billion, Dogecoin continues to solidify its status as the top meme coin among traders – fueling increasingly bullish Dogecoin price predictions.The activity positions Dogecoin back in the best “best crypto to buy” conversation, fuelling an 8% rally in early Thursday trading.On the back of a hawkish-but-uncertain FOMC meeting and an anticipated US-UK trade agreement, DOGE finds itself in a fertile environment for growth as market headwinds begin to clear.Derivatives Market Points to Short-SqueezeTraders seem to be positioning for a major DOGE rally, with Coinalyze data showing a daily long-to-short ratio of 2.27—70% of traders are betting on a price increase.Dogecoin Fear and Greed Index is 57 – Greed pic.twitter.com/pSsqzxnoe2— Doge Fear and Greed Index (@DogecoinFear) May 8, 2025The funding rate, which briefly dipped into negative territory, has now returned to neutral and is poised to turn positive.This dynamic suggests that investors are increasingly confident about a bullish Dogecoin price move. If momentum prevails, these shorts might face forced buybacks, driving the price higher.Dogecoin Price Analysis: Could DOGE Hit $1 in May?This renewed bullish sentiment could fuel a move toward the upper resistance of the descending channel that has defined Dogecoin’s multi-month downtrend.DOGE / USDT 1-week price chart, descending channel pattern. Source: TradingView / Binance.This week’s surge may be the first leg of a 30% climb to $0.23, driven by a rebound from a long-term support trendline marking bottoms since mid-2024.Momentum indicators further support this outlook. The MACD is on track for a golden cross, approaching an overtake of the signal line—often signaling a long-term trend shift on such a high time frame.More so, the Relative Strength Index (RSI) follows suit, trending upward toward neutral after an extended stint in bearish territory, signaling building buying pressure.If this momentum holds, a breakout could ignite a push toward $0.44, marking a potential 135% gain from current levels.However, a push to a $1 Dogecoin price seems unlikely in the near term, especially as economic concerns tied to US trade relations cast a shadow over risk assets.This New ICO is Ready to Disrupt an $85 Billion IndustryPresale investing has become a popular strategy, offering a hedge against recent economic uncertainty-driven downturns and a shot at above-average returns.One project catching early attention is SUBBD ($SUBBD), an AI-powered content platform redefining a $85B industry by giving fans true access and creators better monetization tools.Never miss a sale again.As a top creator, your audience is global. It's just not possible to cater to everyone – you can't be online 24/7 That's where your personal AI Assistant comes in, to handle requests and secure payments. Sleep peacefully knowing you're making money... pic.twitter.com/ju9VjLBmea— SUBBD (@SUBBDofficial) March 26, 2025Traditional creator-subscriber platforms often take hefty cuts—up to 20%—while giving users little agency over their communities.SUBBD flips the script, cutting out the middleman and putting the power directly in creators’ hands—to great support with over $350,000 raised in its initial month.These perks extend to fans in an access-driven ecosystem. Token-gated content, discounts, and early access allow supporters to engage with their favorites in a meaningful way.You can keep up with SUBBD on X, Telegram, and Instagram, or join the presale on the SUBBD website.The post Dogecoin Price Prediction: Explosive On-Chain Volume Suggests a Big Move Ahead – $1 in May? appeared first on Cryptonews.