Dogecoin (DOGE) has recently displayed strong bullish momentum, leading traders to predict that the memecoin could see a significant price surge, potentially up to 180%, if Bitcoin (BTC) continues its upward trajectory. With Dogecoin’s recent performance, there are growing signs that the cryptocurrency might be gearing up for another major rally, fueled by both technical indicators and market sentiment.
A noteworthy 38% increase in Dogecoin’s price in May 2025, which mirrors similar gains seen in Ethereum, has raised the hopes of traders and investors alike. This surge has propelled DOGE into the top ranks of cryptocurrencies, with a $4.7 billion trading volume over a 24-hour period. This impressive performance marks Dogecoin’s strongest monthly gains of the year, highlighting the increased demand for the asset.
An important factor in this bullish outlook is the spot-buyer volume, which has dominated Dogecoin’s market since March. According to data from CryptoQuant, the “taker buyer dominant” pattern in the 90-day cumulative volume delta (CVD) indicates that more aggressive buying has taken place compared to selling, a trend that was also seen before Dogecoin’s breakout rally in November 2024. At that time, DOGE surged by a massive 385%, reaching $0.48. This historical pattern strengthens the case for a repeat performance, as traders expect similar conditions to spark another rally.
Additionally, Dogecoin’s long-term holders have shown increasing confidence. The net unrealized profit/loss (NUPL) for holders who have kept their DOGE for at least 155 days recently surpassed 0.5, signaling a shift in sentiment toward optimism. A NUPL above 0.5 suggests that most holders are in profit, which typically reduces the likelihood of selling. This stable sentiment among long-term holders further boosts confidence that Dogecoin’s price could continue to rise as more investors accumulate the token, waiting for even higher returns.
Looking ahead, there are several indicators suggesting that Dogecoin could be on the verge of another parabolic rally. An anonymous technical analyst, known as Trader Tardigrade, has drawn attention to the DOGE/BTC trading pair, noting a strong historical correlation between Dogecoin and Bitcoin. The analyst points out that Bitcoin’s upward momentum often leads to corresponding gains in Dogecoin. In particular, if Bitcoin continues to rally, Dogecoin could experience a phase of price consolidation followed by a significant bullish breakout.
The MACD (Moving Average Convergence Divergence) bullish crossover is another key technical indicator contributing to the bullish outlook for Dogecoin. Trader Tardigrade highlighted that each time the weekly MACD has crossed into bullish territory since 2024, Dogecoin’s price has surged by substantial percentages. In the first quarter of 2024, DOGE jumped by 180%, and between September and December 2024, the price skyrocketed by 385%. This pattern suggests that another breakout could be imminent, with some analysts predicting that Dogecoin could reach a price target of $1 if the current momentum holds.
Another crypto trader, Javon Marks, echoed this sentiment, forecasting that Dogecoin’s price could reach $0.65 in the near term. This price level would represent the highest point since May 2021, marking a nearly 180% upside potential from its current value. Marks further suggested that if Dogecoin continues to exhibit strength and breaks through the $0.65 resistance, it could even surpass the $1 mark.
Overall, Dogecoin’s market structure, coupled with the ongoing strength of Bitcoin, has led traders to believe that a significant rally could be on the horizon. With technical indicators pointing to a favorable outlook and investor sentiment on the rise, the potential for Dogecoin to see a 180% increase in price is becoming increasingly likely, especially if Bitcoin continues to set the pace for the broader cryptocurrency market.
