Dogecoin News Today: Dogecoin Surges 7% on Golden Cross and Bullish Patterns

Dogecoin (DOGE) has seen a notable rise of 7% in recent trading sessions, pushing its price to $0.24, and contributing to a weekly gain of 19% [1]. This rally is part of a broader crypto market upturn, with investors showing renewed interest in altcoins after a period of sideways trading. Technically, DOGE has formed a "Golden Cross," where the 50-day simple moving average (SMA) crossed above the 200-day SMA [5]. This development is traditionally seen as a bullish signal in technical analysis and is often associated with the start of an upward trend.

Historical performance shows that previous Golden Cross events for DOGE have led to significant price increases. For example, a similar signal on November 6, 2024, resulted in a 130% rise over four weeks, and a comparable pattern on November 22, 2023, led to a 25% gain in the same period [5]. While past performance is not a guarantee of future results, these examples have strengthened bullish sentiment among traders.

Analyst Chris Stonk highlighted that the Relative Strength Index (RSI) on the monthly chart is near its historical lower bound, suggesting potential for upward movement [1]. This positioning indicates that DOGE may be undervalued among large-cap altcoins. Short-term traders remain cautious, but mid-term opportunities are gaining attention.

Dogecoin has been consolidating around $0.22 for some time, with no clear breakout until recently. The altcoin’s price has lagged behind many others in the July rally, where many coins saw 30–40% gains. However, the formation of a flag-pennant pattern on the hourly chart suggests that DOGE is gathering strength for a potential move [1].

Popular analyst Ali Martinez noted that the recent breakout could push DOGE to $0.27 in the short term, though this requires confirmation of trading volume and a shift in resistance levels to support [1]. Another analyst, Kaleo, compared the current DOGE/BTC chart to patterns seen in January 2021, suggesting potential for institutional interest and even large-scale purchases by treasury companies in the future [1]. He identified 6.9420 as a key target.

Dogecoin has climbed to a 30-day high, with a 240% increase in price, pushing its market cap to $60 billion [7]. This performance has drawn attention from both retail and institutional investors, sparking renewed debate about the altcoin’s role in the evolving crypto landscape. Some analysts are drawing parallels between DOGE and other meme coins that have experienced exponential growth in previous cycles [3].

Looking ahead, if the current triangle breakout holds, DOGE could see a 50% rally [1]. Analyst Javon Marks has suggested that the coin might experience 10x gains based on historical patterns [2]. Meanwhile, some forecasts, including those from Changelly and CoinCodex, anticipate DOGE reaching $1 by October, although these are speculative and subject to market conditions [9].

Despite the optimism, caution remains among some traders, with shifts in focus toward assets like Chainlink, which are perceived to offer more real-world utility [6]. As the market continues to evolve, Dogecoin’s price action will remain under close scrutiny.

Source:

[1] Dogecoin Could Rally 50% If Triangle Breakout Holds

https://bravenewcoin.com/insights/dogecoin-doge-price-prediction-dogecoin-could-rally-50-if-triangle-breakout-holds

[2] Dogecoin Price Prediction: Analyst Believes DOGE's ...

https://cryptodnes.bg/en/dogecoin-price-prediction-analyst-believes-doges-historic-cycles-hint-at-rally-to-2-28/

[3] Last Cycle Had PEPE With 40x, 2021 Belongs to Dogecoin ...

https://coincentral.com/last-cycle-had-pepe-with-40x-2021-belongs-to-dogecoin-but-which-coin-will-rule-this-year/

[5] Dogecoin to the Moon? DOGE Price Chart Forms Golden ...

https://www.coinglass.com/ru/news/532645

[6] Dogecoin Future Questionable as Traders Pick Unilabs & ...

https://crypto-economy.com/dogecoin-future-questionable-as-traders-pick-unilabs-chainlink-for-utility-in-q4/

[7] Dogecoin Climbs with Trump's Support, Hits 30-Day High

https://bravenewcoin.com/insights/dogecoin-climbs-with-trumps-support-hits-30-day-high

[9] Dogecoin and HBAR on Track for $1 by October

https://coincentral.com/dogecoin-and-hbar-on-track-for-1-by-october-yet-this-0-0922-token-is-positioned-to-outrun-them-both/