Dogecoin (DOGE) has gained more than 9% in the last 24 hours as traders rushed to buy riskier assets amid the US government shutdown scare.
Analysts are once again pointing to a possible run toward $1. Can the memecoin really reach that goal? Let’s examine.
Analysts Call for $1 as Dogecoin Rallies
Several traders shared optimistic views, with analyst EtherNasyonal showing an ascending megaphone pattern that hints at DOGE price rallying toward $1 next. Fo
Another analyst said Dogecoin’s chart “looks insane” and called $1 “inevitable,” although no timeline was given.
Technical indicators support some of the optimism. DOGE price has been inside a rising channel since May and is currently above its 20-day, 50-day, and 100-day exponential moving averages, all of which are clustered around $0.23–$0.24. This zone now acts as support, suggesting that buyers are stepping in on dips. The 200-day EMA sits near $0.22, providing a deeper cushion if short-term momentum fades.
The Relative Strength Index (RSI) at 56 shows that momentum is positive but not overheated. This leaves room for further gains before DOGE enters overbought territory above 70. If buying pressure accelerates, the next test lies near $0.30, the upper boundary of the channel. A clear breakout there could extend the rally toward $0.36–$0.40, levels last seen in early 2022.
Dogecoin Fundamental Outlook: DOGE ETF Buzz Backs $1 Claims
The launch of a Dogecoin ETF in September 2025 gives investors, including institutions, a regulated way to buy the token. DOGE also continues to benefit from one of the largest online communities in crypto, which has proven capable of driving viral movements.
Meanwhile, Bitcoin’s breakout above $118,000 and Ethereum’s rally past $4,300 have created favorable conditions, as memecoins typically gain when large-cap cryptocurrencies surge.
Dogecoin has neared $1 before, peaking at $0.74 in May 2021 on Elon Musk hype and retail frenzy. The crash that followed showed DOGE’s reliance on community and hype rather than utility. Musk’s DOGE mentions have reduced in recent months.
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