Analyst Predicts Timeline for Dogecoin to Reach $1 After Key Breakout
The post Analyst Predicts Timeline for Dogecoin to Reach $1 After Key Breakout appeared on BitcoinEthereumNews.com.
An analyst has identified the timeline for Dogecoin to surge higher, based on major breakout signals. Notably, Dogecoin’s price movement has recently taken a significant bullish turn, with a strong breakout pushing its value from under $0.17 on May 7 to a peak just above $0.249 by May 11. This rally marked a 36% gain within a week, but according to technical indicators and network activity, analysts are now tracking signals that may support a longer-term move. Breakout from Long-Term Resistance The chart under review by Chris, an analyst on X, is a daily DOGE/USD pair, which highlights a breakout above a descending trendline. That trendline had acted as resistance since January 2025, repeatedly rejecting Dogecoin’s price at $0.44, $0.20, and $0.17. In addition to the trendline breach, the Ichimoku Cloud indicator confirms the bullish momentum. The price has moved above the cloud, flipping its structure into a positive alignment with the green leading span now positioned above the red. This realignment transforms the cloud from resistance into support, confirming the upward bias. Furthermore, the analyst plotted Fibonacci extension levels around price targets at $0.69 (1.618 level) and $0.82 (2.0 level). These levels are widely used by traders to project future movements based on prior rallies. The analysis includes a forecast by the analyst suggesting that DOGE may reach $1 by September 23, aligning with the end of summer. Notably, DOGE would need to surge approximately 327.35% from $0.234 to reach $1. If DOGE reaches $1, the market cap would rise to $149.08 billion, assuming the circulating supply remains stable. Currently, Dogecoin’s market cap sits above $35 billion, up 4% in the past 24 hours. Other Observers Eyeing the $1 Milestone Notably, this is not the only observer eyeing the $1 milestone for the meme coin. In a forecast made…
