DOGE Price Prediction: Can it break through the $1 mark?

• Technical indicators show Dogecoin is under short-term pressure, but the lower Bollinger Band provides support
• Political discourse and technical patterns jointly drive bullish market sentiment
• Symmetrical triangle breakthrough could bring 60% upside potential

Dogecoin Price Prediction

Dogecoin Technical Analysis: Short-term Pullback Pressure Exists, but Long-term Trend Remains Intact

According to BTCC financial analyst Olivia's technical analysis, Dogecoin is currently priced at 0.1638 USDT, below the 20-day moving average of 0.180343, indicating short-term weakness. The MACD indicator shows a negative value (-0.004419), suggesting weak momentum. However, the Bollinger Bands show the price is near the lower band at 0.159112, which may provide support. Olivia noted that if the price can hold the lower band support, it may rebound and test the middle band at 0.180343.

Market Sentiment Warming: Dogecoin May See 60% Rally

BTCC financial analyst Olivia stated that recent criticism by Commerce Minister Lutnick of FCC rate decisions and allegations of "economic misconduct" might intensify market expectations for loose policies. Technically, Dogecoin has formed a symmetrical triangle pattern, and the WXY correction is complete. Combined with analysts' bullish prediction to $1.9, market sentiment has clearly improved. Olivia cautioned investors that while the 60% rally prediction is optimistic, they should still pay attention to the key support at $0.16.

Factors Affecting Dogecoin Price

Commerce Secretary Lutnick Criticizes Fed Rate Decision, DOGEai Calls it 'Economic Misconduct'

US Commerce Secretary Howard Lutnick publicly criticized Federal Reserve Chairman Jerome Powell's decision to maintain rates at 4.25%-4.5%, accusing him of being "obviously afraid of his own shadow". Lutnick believes the US unnecessarily endures the highest rates among first-tier countries, which he considers irrational. He also mocked Powell's misunderstanding of Trump-era tariffs, pointing out that current personal computer tariffs "do not exist" - a point Powell apparently overlooked.

The prominent crypto institution DOGEai fiercely attacked the Fed's stance as "economic misconduct". The institution refuted Powell's claims about tariffs causing inflation, emphasizing that personal computers face no tariffs. DOGEai argues that the Fed's refusal to cut rates - despite minimal inflation and thriving manufacturing due to reshoring - is equivalent to economic destruction. They believe that each basis point of high interest rates extracts about $1 trillion annually from taxpayers to repay debt.

Dogecoin Symmetrical Triangle Formation Suggests 60% Potential Upside

Dogecoin slightly rose 1% to $0.17, but trading volume continues to shrink, with a weekly decline of 3%. Market participants remain cautious, with daily trading volume plummeting 34% to $678 million - a weakening momentum signal typically predicting significant price volatility.

Technical analysis shows a standard symmetrical triangle pattern formed since early 2024, including gradually converging descending high points and ascending low points. Crypto analyst Ali noted that such patterns typically accompany significant breakout volatility, predicting the day's direction will be established when closing above the $0.16-$0.22 range.

This meme cryptocurrency's trading range continues to narrow, indicating an imminent directional breakthrough. Successfully breaking the $0.22 resistance could see bulls anticipating a 60% rally. Such consolidation breakouts typically attract new trading funds and liquidity.

Analysts Predict Dogecoin Price to Reach $1.9, WXY Correction Completed

The leading meme cryptocurrency Dogecoin may be poised for a significant rally, with a target price of $1.9, having completed a complex WXY correction pattern. TradingView analyst HodlAhmad noted that this technical formation suggests the start of the third wave in Elliott Wave theory - traditionally the most aggressive price increase phase.

Dogecoin's current price of $0.17 means a potential upside exceeding 1000% if this pattern holds. Chart analysis shows the WXY correction and subsequent ABCDE triangle are complete, typically indicating exhausted bearish momentum. Such formations often predict a strong, impulsive price increase.

Market technical analysts are particularly focused on the third wave development, as this stage typically has the strongest momentum and longest duration in the Elliott Wave sequence. To realize the predicted trend, Dogecoin needs to break its 2021 crypto bull market high of $0.73.

Will Dogecoin Reach $1?

Based on BTCC financial analyst Olivia's comprehensive analysis, Dogecoin faces the following key factors in reaching $1:

Olivia believes that while the $1.9 prediction is too optimistic, if Dogecoin can break through $0.20 and stabilize, combined with market loose policy expectations, it may test the $0.5-$0.7 range in the medium term. Reaching $1 requires stronger market enthusiasm and capital support, with current probability around 30%.