Dogecoin to $1? Traders say a 140% DOGE rally could happen before February

Dogecoin Surges 10%, Signaling Potential Trend Reversal

On January 17th, Dogecoin (DOGE) experienced a 10% surge, reaching a higher value of $0.42 on the one-day chart. A candle close above $0.40 indicates a potential trend reversal for the memecoin, which has traded between $0.45 and $0.30 since November 11th.

Technical Analysis Points to Strong Foundation

Daan Crypto, a crypto trader and investor, attributed DOGE's recent price breakout to two accumulation periods between $0.30 and $0.33. Despite a failed swing failure pattern (SFP) that pushed the price below $0.40 in early 2025, a retest and recovery above $0.35 suggest a solid foundation for further rallies.

DOGE Emerges as a Strong "Dino" Coin

Daan Crypto believes DOGE exhibits the strongest case as a "dino" coin after Bitcoin and XRP. The term "dino" refers to previously dominant crypto assets that have recently outperformed newer tokens. Dogecoin experienced a similar surge of 222% in two weeks in November 2024.

Whale Interest and Market Sentiment

Santiment data indicates a significant $200 million purchase from DOGE whales over the past 48 hours. This signals renewed market interest in the memecoin.

Projected Price Targets

Multiple analysts anticipate a further price increase. WSB Trader suggests a 60% probability of DOGE reaching $1 before the end of January. Johnny, a crypto investor, predicts another surge once the memecoin gains momentum.

Technical Analysis

Mikybull, a technical analyst, observed a bullish pennant break for DOGE. This pattern suggests a target price of $1 upon continuation of the upwards trend.

Disclaimer

This article is intended for general information purposes only and should not be construed as financial advice. The views and opinions expressed are solely those of the author and do not reflect the official position of Cointelegraph.