Dogecoin is on the rise: Can $DOGE outperform other memecoins and reach the level of 1?

Dogecoin is showing signs of bouncing back in its growth momentum as market activity improves, with trading volume steadily increasing and liquidity on major exchanges remaining abundant. Recent price volatility of DOGE indicates that this asset is consolidating near important levels, signaling potential for a prolonged bullish phase. Analysts predict a short-term target around $0.27–$0.30, with a medium-term forecast ranging from $0.31 to $0.36, and some optimistic projections could reach $0.52. Factors Affecting the Bullish Trend of DOGE Dogecoin (DOGE) is experiencing a significant bullish trend today, with an increase of approximately 11.4% to $0.2463. Several key factors are contributing to this bullish trend: Whale accumulation: Large investors have purchased over 200 million USD worth of DOGE, currently holding nearly 50% of the circulating supply. This accumulation is driving demand and liquidity. Technical indicator: The formation of a "golden cross"—when the short-term moving average crosses above the long-term moving average—historically correlates with significant bullish levels. Market sentiment: The positive investor sentiment, driven by the recent bullish trend and speculative interest, is amplifying the buying pressure. These combined factors are creating a favorable environment for the price of DOGE to continue its bullish trend. Dogecoin Price Analysis — Will It Reach $1? In the short term, the price of DOGE has been continually making higher highs and higher lows, indicating the increasing strength of buyers. Although the price has experienced several pullbacks and corrections, it has remained high since the beginning of 2024. After a strong bullish trend, the price of Dogecoin has entered a crucial resistance area. Therefore, breaking above this area could push the memecoin towards higher targets near $0.5.

Since breaking out in Q4 2024, the price of DOGE has been stuck in a decisive symmetrical triangle pattern. Currently, the price has hit one of the important resistance levels between $0.2436 and $0.2494. Furthermore, the 50/200 day MA is approaching a bullish crossover, known as the Golden Cross, indicating that this token could soon break out of the pattern and reach $0.3 in the short term. On the other hand, the RSI indicator is gradually rising and heading towards the upper threshold. When these levels enter the overbought zone, the price of Dogecoin may begin a new bullish trend. The initial target includes $0.36 and then $0.46. A steady increase above $0.50 could eventually attract more liquidity, pushing the price up to the current ATH of over $0.75. Once these levels are established, reaching $1 may no longer be a difficult task. $DOGE {spot}(DOGEUSDT)