Dogecoin (DOGE) has re-entered the bullish spotlight after bouncing from a key support level near $0.142 earlier this week, igniting speculation of a major price rally heading into July. Now trading near $0.166, the popular meme coin has gained over 10% from its weekly lows, and analysts believe the move could be the start of a historic run toward the $1 mark.
According to market watchers, Dogecoin’s recent dip hit a long-standing trendline dating back to October 2023. The weekly chart shows DOGE forming higher highs and higher lows within an ascending channel, a bullish structure that could set the foundation for a breakout in the coming weeks.
July Could Be the Turning Point
Crypto analyst WIZZ is among those sounding the bullish alarm. In a recent chart shared online, WIZZ suggests that July could serve as the “launchpad” for a Dogecoin rally, projecting a possible breakout to $1 or even $1.40 if support holds and momentum accelerates.
That would represent a gain of over 740% from current prices, a level not seen since the height of Dogecoin mania in 2021.
Multiple Analysts Agree: $1 DOGE Is Within Reach
Other analysts echo the sentiment. Galaxy Research has placed a $1 Dogecoin price target for late 2025, while crypto trader Javon Marks forecasts a surge to $1.25 based on bullish continuation patterns.
Additionally, some analysts are revisiting a falling wedge breakout pattern identified in March, which predicted a 500% rally from local lows.
Risks Remain Despite Bullish Setup
Still, despite the renewed optimism, skeptics point to Dogecoin’s lack of underlying fundamentals. Unlike Ethereum or Solana, which power major DeFi ecosystems, Dogecoin’s utility remains limited. Much of its price movement continues to be driven by community sentiment and broader crypto market trends.
If Bitcoin stalls or retraces, DOGE often more volatile than large-cap coins, could suffer deeper corrections.
Trader Strategy: Profit Targets and Risk Management
Dogecoin’s setup may offer massive upside, but traders are urged to proceed with caution. A 500% gain in a month would be extraordinary even for meme coins, and would likely require perfect alignment of bullish technicals, retail enthusiasm, and overall crypto market strength.
Experts suggest setting clear profit targets and tight stop-loss levels to mitigate risk, especially given the coin’s historic volatility.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
