Dogecoin Surges 48.7% Amid Crypto Market Rally

Dogecoin (DOGE) has seen a significant surge in its price, rising by 48.7% over the past month. This increase is part of a broader rally in the crypto market, which has been fueled by easing concerns over potential global tariff wars. Despite these impressive gains, analysts suggest that there may still be room for DOGE to climb before reaching its cycle top.

According to a recent analysis, DOGE price tops often align with surges in retail trading activity. This relationship is illustrated in a chart that shows periods of heightened high-frequency futures trading by retail investors, marked by red bubbles, consistently appearing near major price peaks. These periods suggest that the market may be overheating, which could lead to sharp price corrections. In contrast, periods with lower retail participation, marked by green and pink bubbles, typically coincide with more stable market conditions, offering better entry points for new investors.

Monitoring these red bubbles can help traders and investors anticipate potential short-term tops in DOGE. Spikes in retail participation often reflect heightened market greed, which is frequently a precursor to sharp price corrections. Currently, Dogecoin futures activity appears to be in a neutral zone, indicating that the asset may still have room to grow before nearing an overheated state. This view is supported by crypto analyst Anup Dhungana, who shared a weekly DOGE chart showing a breakout from a long-term falling wedge pattern—a bullish technical setup that often precedes price rallies. Based on this breakout, Dhungana forecasts that DOGE could reach $1 in the current market cycle.

The $1 price target has long been a symbolic milestone for Dogecoin enthusiasts. During the 2021 bull run, DOGE reached an all-time high (ATH) of $0.73 but ultimately fell short of the coveted $1 mark. This time, however, several analysts believe that Dogecoin could finally hit the $1 milestone. Noted crypto analyst Kevin recently pointed to $1.10–$1.25 as a plausible target, based on Fibonacci retracement levels. However, seasoned market watcher Ali Martinez cautioned that DOGE must first overcome a significant resistance level at $0.36 to sustain its bullish momentum. At the time of reporting, DOGE was trading at $0.22, up 1% in the past 24 hours.