Dogecoin (DOGE) traders are forecasting a massive 180% price surge, citing technical breakouts, on-chain data, and renewed Bitcoin strength as key catalysts. The memecoin, long favored by retail traders, is gaining momentum amid a broader market rally led by Ethereum and Bitcoin.
DOGE Up 38% in May amid strong market demand
Dogecoin has jumped 38% so far in May, marking its best monthly performance in 2025. Over the past seven days, DOGE has rallied in tandem with Ethereum, with its current price sitting at $0.2233, according to CoinGecko. Daily trading volume hit $4.7 billion, placing DOGE fifth among non-stablecoin cryptocurrencies.
Behind this surge is a surge in spot market buying, particularly aggressive taker activity, which reflects dominant demand. CryptoQuant’s 90-day cumulative volume delta (CVD) shows a “taker buyer dominant” trend, last seen in November 2024. That signal preceded a 385% rally from $0.10 to $0.48.
On-Chain metrics suggest long-term confidence
Long-term holders are also signaling renewed optimism. The Net Unrealized Profit/Loss (NUPL) for DOGE recently crossed 0.5, suggesting the majority of investors are now in profit and potentially less likely to sell. This threshold, often interpreted as “belief” territory, historically supports price stability and potential parabolic moves.
With accumulation accelerating and market sentiment turning bullish, analysts are debating whether another major breakout is underway.
Technical setups point toward $0.65 and $1 targets
A weekly chart pattern and MACD bullish crossover have turned heads among traders. Notably, this marks the third major MACD crossover since early 2024, each of which preceded substantial rallies—180% between January and March 2024, and 385% from September to December 2024.
Crypto trader Javon Marks echoed the optimism, predicting: $DOGE is 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.
Similarly, anonymous technical analyst Trader Tardigrade compared the current DOGE/BTC setup to Dogecoin’s historical 30,000% run from $0.0024 to $0.739, suggesting a similar structure is forming.
Bitcoin correlation and the trigger for takeoff
Dogecoin’s close correlation with Bitcoin—around 0.67 over the past three months, per Macroaxis—means that continued Bitcoin gains could be a crucial trigger. If Bitcoin moves into a sideways consolidation phase, analysts say that could create the ideal backdrop for a DOGE rally that lasts several weeks.
Whether Dogecoin can reach $1 again—a level last seen in May 2021—may depend on both macro market conditions and the behavior of long-term holders. But with bullish technicals aligning and spot demand increasing, DOGE appears poised for another breakout.