A bullish pattern has emerged on Dogecoin’s weekly chart, leading traders to anticipate a potential 180% gain from DOGE.
Key Takeaways:
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Dogecoin’s 38% surge reflects strong market demand, with spot-buyer volumes taking charge since March.
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A bullish MACD crossover has traders predicting a 180% rally, with targets set at $0.65 and $1.
Dogecoin’s (DOGE) price has rallied in tandem with Ethereum over the past week, gaining 38% in May, marking its strongest monthly performance this year. According to CoinGecko, DOGE recorded $4.7 billion in trading volume within the last 24 hours, securing its position as the fifth largest cryptocurrency (excluding stablecoins).
The memecoin’s strength is accompanied by robust on-chain metrics. Data from CryptoQuant indicates that DOGE’s spot taker 90-day cumulative volume delta (CVD), which measures the net difference between buying and selling volume over 90 days, has been “taker buyer dominant.” This trend signifies that aggressive buying has outpaced selling, a pattern last encountered in November 2024, which led to a significant breakout rally of 385% to $0.48 in Q4, 2024.
The long-term holder net unrealized profit/loss (NUPL), which tracks unrealized profits or losses for DOGE holders with a lifespan of at least 155 days, recently surpassed 0.5 for the first time since March 1, 2025. This indicates an optimistic or “belief” sentiment, as a NUPL above 0.5 means that the majority of holders are currently in profit, suggesting confidence and a lower probability of selling. This optimism helps stabilize prices, as holders may prefer to wait for higher gains rather than sell.
These metrics indicate robust market demand, with investors actively accumulating Dogecoin, significantly contributing to its recent ascension.
Is DOGE Set for Another Parabolic Rally?
With a favorable market structure, the anonymous technical analyst Trader Tardigrade has revealed a bullish forecast for the DOGE/BTC trading pair. The analysis reflects a previous rally during which DOGE surged 30,000% from $0.0024 to $0.739, suggesting a similar potential trajectory.
Historically, Dogecoin and Bitcoin exhibit a strong correlation—approximately 0.67 over the past three months, according to Macroaxis data—indicating that movements in BTC often influence DOGE’s direction. The analyst anticipates that a surge in BTC could be followed by a consolidation phase, which would ignite a substantial DOGE rally in the weeks to come.
In an additional analysis, Trader Tardigrade estimated Dogecoin’s immediate target at $1, following the memecoin’s third consecutive weekly MACD bullish crossover since 2024. Each of these crossovers has been followed by significant price breakouts, with values surging 180% between January 2024 and March 2024, and an impressive 385% leap between September 2024 and December 2024.
Crypto trader Javon Marks supports a similar forecast for Dogecoin, predicting an immediate target of $0.65, which would mark its highest price level since May 2021. Marks stated,
“$DOGE (Dogecoin) now showing MAJOR STRENGTH after setting Higher Lows! $0.6533 can be coming in another nearly +180% upside and prices could even break above, bringing $1+ into play.”
Related: Bitcoin all-time high cues come as the US-China deal sends DXY to a one-month high.
Conclusion
In summary, Dogecoin’s recent metrics and market structure suggest it is well-positioned for potential significant gains. With strong market demand and enthusiastic sentiment among long-term holders, DOGE might be on the threshold of a parabolic rally. As Bitcoin moves upward, Dogecoin is likely to follow suit, presenting an exciting opportunity for traders. Monitoring these developments will be key as we approach the predicted price targets.
