Dogecoin (DOGE) Price Prediction: How Much DOGE You'd Need to Become a Millionaire By 2026

Dogecoin is flashing strong signs of entering a bullish phase after a crucial technical breakout caught traders' attention.

Dogecoin (CRYPTO: DOGE) showed flashing signs of entering a bullish phase after a crucial technical breakout caught traders’ attention.

What Happened: Analyst Trader Tardigrade observed that a Bullish Cross had formed on Dogecoin’s Stochastic RSI. This indicator is known for signaling the start of upward momentum.

“$Doge also shows a breakout from a falling wedge, which began in late November and squeezed for almost 5 months. The breakout occurs around $0.14-$0.16,” the analyst stated.

Falling wedges, characterized by converging highs and lows, often lead to bullish reversals. The pattern, formed by lower highs and lows, signaled a gradual shift in market behavior.

As the wedge tightened, it squeezed the price movement for nearly half a year. This compression ended with a burst to the upside, which could translate into further gains if buyers continue to intervene during the coming weeks.

Support, Resistance Levels And More: At the time of writing, Dogecoin was trading down 0.78% in the past 24 hours at $0.1812. However, it had risen 18.24% in the past week and reached a market capitalization of $27.01 billion.

Analyst Arslan Ali noted on X that Dogecoin had established strong support between $0.143 and $0.16. These levels provided a strong base for continued upward movement as optimism around Dogecoin grew.

On the technical front, DOGE was supported by a rising trendline that had been in place since mid-April. The 50-day Exponential Moving Average (EMA) at $0.1788 was also helping to keep the price stable, providing a safety net for traders.

Arslan Ali identified immediate resistance at $0.1878. If the meme coin could break past this level, a challenge of $0.1929 could soon follow. Sustained momentum might even push the price up to $0.24 in the near term.

In a recent update, TronWeekly shared insights from analyst MemeCrypto, who observed that Dogecoin “might be starting something bigger” from the $0.18 price point.

“Structure is building naturally, candle by candle, and the momentum doesn’t seem random. We’re seeing a nice series of higher lows, and we’re bouncing off the 200-period EMA on the 4-hour chart, which is now acting as support.”

Momentum indicators and Exponential Moving Averages (EMAs) are supporting this rally. The analyst said that the key resistance to watch is at $0.24. If it hits that mark at the current pace, this may only be the beginning of a much larger move.

Dogecoin Price Prediction: Market analysts believe that DOGE could repeat its historic bull runs and aim for $1 by May 2025. Reaching that price would push its market cap close to $100 billion, bringing back memories of its explosive rally in 2021.

Several factors could drive this surge. Bitcoin (CRYPTO: BTC) is approaching $94,000, instilling confidence throughout the crypto market. Other major coins like Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and XRP (CRYPTO: XRP) are also enjoying double-digit weekly gains. Retail investors are showing fresh enthusiasm, and whale investors are accumulating more Dogecoin.

However, before DOGE can target new highs, it must overcome critical resistance at $0.24. Analysts stress that a clear move above $0.1878, accompanied by strong trading volume, would pave the way for a powerful rally.