Dogecoin Price Prediction – Confluence of Bullish Factors Could Send DOGE to $1

Highlights:

• Dogecoin has breached weekly resistance at $0.238
• Rising bullish sentiment could send Doge to $0.35 in the short term
• Bulls need to close the week above $0.238 for the upside to be confirmed

Dogecoin (DOGE) is sending bullish signals today, reflecting the improving sentiment across the cryptocurrency market. At the time of going to press, Dogecoin was trading at $0.247, up by 7.27% in the day. Dogecoin trading volumes are also on the rise, up by 64%, to $3.29 billion. Dogecoin’s price action could only be a hint of what is to come in the near future. 

Bitcoin Price Action Driving Investor Confidence In DOGE

Bitcoin, the cryptocurrency market mover, is showing signs of a parabolic breakout after hitting a high of $111,000 intra-day. With the weak demand for USD bonds, sending capital into inflation-proof assets, Bitcoin could be headed to prices as high as $200k in the short term. This, by extension, means altcoins, which usually move alongside Bitcoin, could be set to test new highs soon.

Dogecoin is already sending the right signals with its price action today after rising by close to 10%. If Bitcoin continues the momentum it has built so far, Dogecoin could be on a path to making new all-time highs at $1 or higher.

US 20 year bond auction comes in at 5.047%. The expectation this morning was that it was going to come in at 5.032%.

This means there was significantly less demand for US debt than anticipated.

I'm sure it's nothing. pic.twitter.com/MBmoFyWYYi

— BonkDaCarnivore (@BonkDaCarnivore) May 21, 2025

Dogecoin’s Position Among Memecoins Positions for Growth

Dogecoin is particularly advantageous in terms of ongoing market dynamics. That’s because it is the number one memecoin in market cap and recognition. This means in an all-out bull market where investors FOMO into meme coins, DOGE could draw in some of the highest volumes. That’s because it has credibility and is more accessible than other memecoins.

$DOGE and $BONK are still leading for meme coin mindshare, followed by $PEPE and $PNUT.

Interestingly, D.O.G.E is now at 4% (gaining on Dogecoin). pic.twitter.com/i4UATyqJf7

— Miles Deutscher (@milesdeutscher) November 13, 2024

Dogecoin’s potential is also enhanced by the fact that a good portion of the meme coins in the market today are scams. As such, for investors seeking a mix of gains and capital protection, Dogecoin will likely be the best option. This is part of the reason why DOGE did exceptionally well in the last bull cycle.

Upcoming Dogecoin ETFs Likely to Boost Momentum

Dogecoin could also draw investments in anticipation of an ETF. While the SEC has announced that it was delaying altcoin ETF approvals, the odds are high that they will be approved at some point in the near future. That’s due to the improvement of the cryptocurrency environment under President Donald Trump. Since Dogecoin is one of the altcoins with an ETF pending, bullish sentiment is likely to rise as investors anticipate approval, while also benefiting from Bitcoin’s increasing bullish momentum.

From meme to mainstream: Dogecoin now has its own ETP.

At 21Shares, we’re proud to be the first to offer a Dogecoin ETP exclusively endorsed by the @DogecoinFdn, enabling investors to access the beloved $DOGE asset.

This is what it looks like when culture and finance converge.… pic.twitter.com/iN2vqSeOM9

— 21Shares (@21Shares) April 18, 2025

The Majority of DOGE Traders In Profit

Data indicates that in the last 24 hours, the number of Dogecoin traders in profit has increased by 225%. However, this increase has not been accompanied by a selloff. It goes to show that even when in profit, traders expect Dogecoin to go even higher. Such confidence and the rising bullish sentiment across the market could inspire more investors to go long on Dogecoin. This gives it significant potential, mainly because it is still way off from its 2021 all-time highs.

Technical Analysis – Dogecoin Pushing Weekly Resistance

From the charts, Dogecoin is currently pushing through weekly resistance at $0.238. If It ends the week above $0.238, it would confirm that bulls are in control. In such a case, Dogecoin could rally to a high of $0.35 in the short term.

On the other hand, if bulls fail at the $0.238 resistance, then a correction to $0.15 could follow. However, with bullish sentiment rising across the market, Dogecoin has higher odds of holding above $0.238 and potentially testing new prices in the short to medium term. 

Recap

Dogecoin is in the middle of a confluence of bullish factors. Its price has crossed a critical resistance level, and Bitcoin is turning bullish. These are factors that could trigger Dogecoin FOMO and push its price to $1 within 2025.