Dogecoin traders are buzzing with excitement as predictions of a potential 180% price surge gain traction, fueled by the continued upward momentum of Bitcoin. Over the past week, Dogecoin (DOGE) has mirrored Ethereum’s impressive performance, climbing a notable 38% in May—its strongest monthly rise so far this year. According to CoinGecko, DOGE’s trading volume reached a massive $4.7 billion in the last 24 hours, placing it among the top five cryptocurrencies by volume, excluding stablecoins.
A Surge Fueled by Market Dynamics
Dogecoin’s recent ascent is underpinned by robust market demand, with spot-buyer volumes playing a pivotal role since March. A bullish MACD crossover has traders like CryptoQuant and others predicting further rallies, setting their sights on price targets of $0.65 and a potentially dazzling $1. The memecoin’s market strength is evident in the on-chain data. CryptoQuant highlights that DOGE’s spot taker 90-day cumulative volume delta (CVD) has been dominated by “taker buyers,” indicating a prevailing buyer over seller sentiment. This pattern, last seen in November 2024, coincided with a dramatic 385% leap to $0.48 in the fourth quarter of the same year.
Adding to the bullish narrative, DOGE’s long-term holder net unrealized profit/loss (NUPL) has crossed the 0.5 threshold for the first time since March 2025, signaling a shift towards “belief” sentiment. This metric suggests that a majority of holders are in profit, fostering confidence and reducing the likelihood of selling off for quick gains. Instead, holders might opt to wait for potentially higher profits as market optimism grows. As explored in our recent coverage of Dogecoin, XRP ETF hopes, social data also shows a surge in bullish sentiment, further fueling market enthusiasm.
Historical Patterns and Future Prospects
The intriguing relationship between Dogecoin and Bitcoin cannot be overlooked. Historically, the two have exhibited a strong correlation, with Macroaxis data indicating a correlation coefficient of 0.67 over the past three months. This suggests that Bitcoin’s movements are often a harbinger for Dogecoin’s trajectory. According to an anonymous technical analyst known as Trader Tardigrade, a favorable market structure is in place for DOGE/BTC, reminiscent of a past rally where DOGE skyrocketed 30,000% from a mere $0.0024 to $0.739.
Trader Tardigrade also points to the significance of the weekly MACD bullish crossover, which has occurred for the third time since 2024. Historically, each crossover has led to substantial breakouts, with prices surging 180% between January and March 2024, and a staggering 385% from September to December 2024.
Crypto trader Javon Marks supports this bullish outlook, projecting an immediate target of $0.65 for Dogecoin—its highest since May 2021. “Dogecoin is showing major strength after setting higher lows,” Marks asserts, suggesting that a nearly 180% upside is plausible, with potential for prices to soar above $1. Despite recent controversies, such as Elon Musk’s rumored exit from Tesla, which he has denied as reported in our article on Dogecoin’s resilience, the memecoin remains unfazed and continues to capture investor interest.
What Lies Ahead?
As Bitcoin inches closer to its all-time high, the stage seems set for Dogecoin to embark on another remarkable rally. However, questions linger about whether this bullish sentiment can sustain itself. The cryptocurrency market is notoriously volatile, with external factors often causing unexpected shifts. Yet, the current optimism surrounding Dogecoin is palpable, driven by technical indicators and historical patterns that have traders and analysts eagerly watching the charts.
In the coming weeks, all eyes will be on the interplay between Bitcoin’s trajectory and Dogecoin’s potential breakout. While predictions point towards a promising future for DOGE, the inherent risks of cryptocurrency trading remain ever-present. Investors and enthusiasts alike must navigate the market with caution, conducting thorough research and staying informed about the latest developments.
As the crypto world awaits the unfolding of this potential rally, one thing is clear: Dogecoin’s journey continues to captivate, with the next chapter likely to be written in the price charts of the coming months. Whether it reaches the anticipated heights remains to be seen, but for now, the excitement is undeniably palpable.
Source
This article is based on: Dogecoin traders predict 180% DOGE price rally if Bitcoin gains continue
Further Reading
Deepen your understanding with these related articles:
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- Ethereum bulls show interest as traders’ confidence in ETH’s $1.8K level improves
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
