Dogecoin Price Prediction: DOGE Eyes $1 With 380% Rally Potential

Dogecoin price is experiencing significant momentum with a 14% surge today, July 18, trading at $0.248 at press time. The ongoing gains have led to a symmetrical triangle breakout, signaling that the price is now targeting a 380% rally to $1 amid a $500 million raise for a Dogecoin treasury and soaring odds for a DOGE ETF approval.

Technical Analysis Shows Bullish Breakout Pattern

After creating a symmetrical triangle pattern for nearly ten months, Dogecoin is now breaking out, indicating that a massive bull run may be on the way. This breakout appears in this week's candlestick, which reflects a 23% increase in DOGE price in the last seven days.

The height from the lowest support level of this symmetrical triangle to the December 2024 high of $0.48 represents a 380% price increase. This could be the same rally that DOGE may record after it overcame the resistance level of $0.41. Recording such gains could push DOGE price to above $1 for the first time in history.

RSI and AO Indicators Support Bullish Momentum

The RSI is also in favor of a bullish Dogecoin price prediction as it continues to rise after crossing above 50, showing that the bullish momentum is growing strong. There is a possibility that more gains are likely to happen.

The other indicator increasing the likelihood of a DOGE price rally to $1 in the near term is the AO bars that are now green despite remaining in the negative zone. This outlook shows that the bearish momentum that has affected the meme coin's price movement in the last seven months has become weak, and there is a high possibility of a breakout happening.

$500M DOGE Treasury Strategy Provides Institutional Support

Dogecoin price tends to follow Bitcoin's price movements, and as long as Bitcoin is gaining, there is a possibility that DOGE will continue with the upward movement. However, other factors within the Dogecoin ecosystem might also aid this rally and lead to this top meme coin posting the same rallies that it did in its early years.

Bit Origin, a crypto firm listed on Nasdaq, has secured funding to launch a $500 million DOGE treasury. The funds are going to be used to accumulate more tokens, while others will be used to support the growth of the Dogecoin ecosystem.

DOGE ETF Approval Odds Hit 80%

Data from Polymarket shows that there are high odds that spot DOGE ETFs are going to receive approval, with the surge coinciding with the institutional interest from Bit Origin. Currently, there is an 80% chance that these products are going to launch, with the closest date for the next SEC decision being in September 2025.

Key Price Targets and Resistance Levels

The high level of interest from both retail and institutional investors supports the thesis that a Dogecoin price rally to $1 might be on the way. If this week's candlestick closes above the resistance level of $0.21 and the buying pressure remains strong, DOGE could reach this price in the coming months.

Key resistance levels to watch include:

• $0.21 immediate resistance

• $0.41 major resistance level

• $0.48 December 2024 high

• $1.00 psychological target

Market Sentiment and Outlook

The combination of technical breakout patterns, institutional investment through the $500 million treasury strategy, and increasing ETF approval odds creates a bullish confluence for Dogecoin. The meme coin's correlation with Bitcoin's movements also provides additional support as the broader crypto market continues to gain momentum.

Conclusion

Dogecoin's technical analysis shows a clear breakout from a ten-month symmetrical triangle pattern, targeting a 380% rally to $1. The $500 million treasury strategy by Bit Origin and 80% odds for DOGE ETF approval provide fundamental catalysts that could drive this ambitious price target. Investors should monitor key resistance levels and maintain risk management strategies as the market develops.

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