Dogecoin is back in the spotlight, rallying nearly 40% in a single week and sparking fresh optimism that the popular memecoin could soon retest its former highs.
The sharp rise has drawn attention across both retail and institutional circles, with traders pointing to bullish technical patterns and the launch of the first U.S. Dogecoin ETF as key drivers behind the surge.
Technical Indicators Support a Bullish Case
On the weekly chart, Dogecoin is trading above its 50-week exponential moving average (EMA) at $0.227, a key support zone that helps sustain the rally. Analysts caution that if this level fails, DOGE could retest the 200-week EMA around $0.215.
Dogecoin (DOGE) shows a strong bullish setup with a 70% probability of breaking above $0.31 in the next 10 days, though short-term signals suggest caution. Source: Dr Anton Micheal via X
Momentum readings are also favorable. The Relative Strength Index (RSI) remains below the overbought threshold, suggesting there is still room for further upside. Meanwhile, Dogecoin’s MVRV Z-Score, which measures whether the asset is overvalued or undervalued relative to holder cost basis, currently sits near 1.35. Historically, similar levels have preceded major rallies, including the 230% surge in November last year.
These metrics strengthen the argument for a positive Dogecoin outlook, though traders remain cautious about near-term volatility.
ETF Launch Adds Fuel to Dogecoin Rally
Beyond technicals, Dogecoin has gained fresh momentum from a landmark development in U.S. financial markets. The first-ever Dogecoin ETF, known as DOJE, launched on the Cboe BZX exchange this week. The fund, issued by REX Shares and Osprey Funds, shattered expectations by recording nearly $6 million in trading volume within its first hour—more than double analyst forecasts.
$DOJE launches Thursday under the ’40 Act, likely the first U.S. ETF holding an asset with no utility, while several ’33 Act ETFs await SEC approval. Source: Eric Balchunas via X
Bloomberg Senior ETF Analyst Eric Balchunas remarked that his “over/under got destroyed in the first hour,” calling DOJE’s debut “shockingly solid.” For comparison, most new ETFs attract less than $1 million on their first day.
The ETF gives both retail and institutional investors regulated exposure to Dogecoin (DOGE), a token once dismissed as purely speculative. Its rapid uptake underscores rising mainstream demand and positions Dogecoin alongside more established assets like Bitcoin and Ethereum in U.S. markets.
Can Dogecoin Repeat Past Super Rallies?
The mix of technical strength and ETF-driven enthusiasm has led many to revisit the perennial question: Will Dogecoin reach $1?
While some chartists, such as CryptoKing and CryptoGoos, point to nearer-term resistance around $0.45, others believe a breakout toward $0.60 could pave the way for a longer-term run. If the momentum mirrors last year’s 230% surge, Dogecoin bulls argue that the path toward the $1 threshold is not far-fetched.
Still, risks remain. A downturn in broader crypto markets or a failure to hold key support levels could limit gains. Regulatory developments around ETFs and shifting investor sentiment will also play critical roles in shaping the future of Dogecoin.
Outlook: Dogecoin Price Prediction Ahead
For now, the Dogecoin price prediction today is tilted firmly bullish. Traders are eyeing $0.45 as the first major resistance, followed by $0.60 if upside momentum continues.
Dogecoin was trading at around $0.28, down 1.52% in the last 24 hours at press time. Source: Brave New Coin
Longer-term Dogecoin predictions are more varied. Some analysts see the recent rally as a step towards a large Dogecoin bull trend, particularly with institutional products like ETFs making the asset more mainstream. Others are not sure that the memecoin can sustain such prices without constant hype and use.
With Dogecoin now breaking out technically, enjoying strong on-chain fundamentals, and supported by a groundbreaking ETF launch, the market’s attention is firmly fixed on whether DOGE can maintain its climb—and ultimately answer the question investors keep asking: Can Dogecoin hit $1?
