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NewsBTC 2025-04-18 03:00:26

Dogecoin’s $1 Dream Isn’t Dead—Analyst Predicts Summer Breakout

Dogecoin’s $1 Dream Isn’t Dead—Analyst Predicts Summer Breakout

The Dogecoin weekly chart has slipped back into the same lull that characterised the first half of 2024, yet two independent technicians argue the lull is nothing more than a reset before a decisive push higher. Dogecoin to $1 By Summer’s End? On the one‑week time‑frame, analyst Chris (@StonkChris) plots an expanding rising channel that has been guiding price action since the October‑2023 low at $0.056. That structure has produced a sequence of higher highs—~$0.229 in March 2024 and ~$0.484 in December 2024—and higher lows around $0.077 (February 2024) and $0.08 (early August 2024). The latest pull‑back has just retested the channel’s lower rail at $0.13, where Chris notes that the weekly Stochastic‑RSI has begun to curl up from single‑digit territory and the Ichimoku cloud is turning supportive above $0.22. Related Reading: Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Here’s The Target From that confluence he sketches a steep, almost parabolic trajectory that slashes through the cloud resistance in May, re‑tests the mid‑cloud span near $0.30 and accelerates toward the upper boundary of the channel—an area that will sit close to $1.00–$1.10 by late‑summer 2025. “DOGE to $1 by the end of the summer 2025 anyone?” he asked followers on X, leaving little doubt about his conviction that the secular up‑trend remains intact. A Higher High Is Needed The short‑term picture is less binary in the eyes of Olivier (@Dark64), who analyses Dogecoin on the daily chart. His canvas is dominated by two features: a descending regression channel (labelled “BLSR”) that has trapped price since the November peak at $0.484, and a large rounded accumulation base projected to end between 5 May 2025 and 29 June 2025. Key horizontal levels flank the pattern. Immediate support sits at $0.1533, the level price is presently hugging. Should that shelf give way, Dogecoin could revisit the lower line of the channel below $0.13. To the upside, Olivier marked $0.2175 the most crucial resistance where DOGE could break out of the descending channel and mark the first higher high in months. Related Reading: Dogecoin Follows The Blueprint: Analyst Highlights Perfect Technical Execution Meanwhile, the area around $0.229 could be a last line of defense for bears as this is the local high from March 2024. A break above this level would expose $0.3496—a key support in December last year until January this year. Ultimately, the December high at $0.4361, with the year‑to‑date high at $0.484 completing the measured‑move objective. Olivier’s trading logic is brutally simple. “The up‑trend won’t resume until it prints a new higher low,” he wrote, adding in reply to a sceptic who wondered whether DOGE might first undercut $0.12: “If it breaks the last low, it will go lower. If it prints a new higher low and a new higher high, then I’ll be confident a new up‑trend is on.” His road‑map therefore allows for one more flush—potentially into the $0.13–$0.11 pocket. At press time, DOGE traded at $0.154. Featured image created with DALL.E, chart from TradingView.com

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https://www.digistore24.com/redir/325658/ceobig/
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