Dogecoin Bull Run Expands: Heading to Higher Targets

The Dogecoin (DOGE) bull run intensifies, propelling the token towards new heights. A recent surge of over 250% has elevated DOGE to become the 6th largest cryptocurrency, boasting a market capitalization of $60 billion. Trading volume has skyrocketed, surpassing $26.2 billion, indicating the platform's significant trading activity. This momentum is projected to continue for the remainder of 2024.

Will Dogecoin Reach $1 in 2024?

DOGE has soared to a three-year high, surpassing $0.31 and continuing its upward trajectory from $0.18. Technical analysis suggests strong bullish momentum, with prices reaching levels unseen since 2021. Market reaction to social media buzz surrounding Elon Musk and Donald Trump highlights DOGE's sensitivity to high-profile endorsements.

Trading between crucial resistance at $0.4520 and support at $0.3754, DOGE's volume favors the bulls. The Relative Strength Index (RSI) has broken above the rising channel's resistance, entering the overbought zone. Sustained volume exceeding $16 billion may keep DOGE in this zone; otherwise, a pullback might occur.

The recent Golden cross in the Moving Average (MA) reduces the likelihood of a pullback. However, reaching $1 in 2024 hinges on surpassing the final resistance before the all-time high of $0.5.

What Will 1 Dogecoin Cost in 2025?

In the long term, DOGE appears poised for a substantial surge. Its current pattern mirrors the 2021 bull run, where a bearish "Death Cross" was followed by a bullish "Golden Cross" that triggered an 8000% rally to $0.7376. DOGE has similarly endured a Death cross and is currently experiencing a Golden cross.

This historical precedent suggests a remarkable rally in 2025, potentially pushing the value of 1 DOGE into double digits.