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Dogecoin’s $1 Dream: Analyst Reveals When It Could Happen
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin’s $1 Dream: Analyst Reveals When It Could Finally Happen

Christian Encila
Christian Encila
2 weeks ago
3 mins read
Dogecoin

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Dogecoin’s price swung sharply higher last week, jumping from under $0.169 on May 8 to just over $0.248 by May 12. That’s a 35% gain in seven days. Traders and investors are watching closely, as some charts and on‑chain data point to more upside ahead.

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Breakout Above Long‑Term Barrier

According to chart watchers on X, Dogecoin cleared a descending trendline that’s been capping gains since January 2025. That line had knocked back rallies around $0.43, $0.19 and $0.16. Now, with prices trading above it, some see a fresh floor under DOGE’s price action.

Ichimoku Cloud Turns Support

Based on data, the Ichimoku cloud has flipped bullish. After the price moved above the cloud, the green span settled above the red. For many traders, that shift turns what was once resistance into a cushion for future climbs.

Fibonacci Levels Point Higher

Analysts have also plotted Fibonacci extensions on the recent move. The 1.619 level sits at $0.69 and the 2.0 level at $0.81. If Dogecoin follows that path, these lines could mark key stopovers on the road up.

$DOGE 1D – The technical fib target for Dogecoin is the green box above with this daily breakout occuring.

I’m calling for $1 $DOGE because I think it will extend higher to that psych level.

All of this happens by the end of summer, imo. pic.twitter.com/V3rvmre1HR

— Chris (@StonkChris) May 13, 2025

Forecast Puts $1 Within Reach

One independent analyst has mapped out a timeline pushing DOGE to $1 by the “end of summer” this year. That would require a whopping 320% rise from its current $0.2317 price. If it happens, market value could swell to almost $150 billion, up from roughly $34.5 billion today. DOGE’s market cap rose 3.4% over the past 24 hours alone.

Network Activity Ramps Up

On‑chain figures back the buzz. New addresses have climbed over 100% in a week, active wallets are up 110%, and zero‑balance addresses jumped 154%. Those moves hint at growing retail interest and wider engagement beyond quick trades.

DOGE is currently trading at $0.23. Chart: TradingView

Futures Traders Stay Busy

Meanwhile, futures open interest on Dogecoin has surged from $989 million to $1.62 billion. That’s a strong shift compared to mid‑February through April, when futures heat and DOGE’s price rose and fell together. Now, open interest keeps climbing despite a pullback from $0.25 to around $0.22.

Related Reading

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Price Down, Bets Up: Dogecoin Open Interest Climbs To $1.62 Billion

2 weeks ago

Other Voices Eyeing $1 Mark

Studies last year showed that Dogecoin could hit $1 and push its market cap near $100 billion in 2025. Another market watcher has tracked a cup‑and‑handle pattern forming since 2021, and uses it to project a $0.80 price target.

What This Means For Traders

Momentum is clearly building, but history warns against getting too carried away. Trendlines can be broken on low volume and bounce back into place. Fibonacci levels offer guidance, not guarantees. And on‑chain spikes sometimes come from short‑term bots or wash trading.

That said, a clear move above these technical hurdles could open the door to bigger swings. Risk management remains crucial.

Featured image from Unsplash, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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