Dogecoin (DOGE) Could Be On the Verge of a Significant Price Increase

A recent technical report indicates Dogecoin (DOGE) could be on the verge of a significant price increase in the next few months.

Dogecoin (CRYPTO: DOGE) is showing signs of a potential technical price increase in the next few months, according to a recent technical report by Crypto Bio.

Here's a look at what the analyst highlighted and how it could impact investors' goal of becoming a Dogecoin millionaire.

What Happened: As meme coin traders know, Dogecoin has been a hot topic in recent months, especially with the emergence of two bullish divergence patterns.

The first pattern unfolded between June and August 2024, as the price dropped to ranges of $0.07 to $0.09 and the Relative Strength Index made higher lows. This divergence was followed by a massive rally that propelled Dogecoin to highs of over $0.40 in December 2024.

A similar scenario unfolded between March and April 2025. While Dogecoin’s value touched lower lows around $0.1300, the RSI once again formed higher lows.

"Considering these technical aspects, certain experts predict that Dogecoin might reach $0.5 in the upcoming two or three months," the analyst at Crypto Bio said.

This price point could make or break a few investors who are aiming to become a millionaire with Dogecoin.

At a price of $0.5, an investor with $10,000 would have around 20,000 units of Dogecoin, which would be worth approximately $27,530—a decent profit of $17,530. However, to truly become a millionaire if Dogecoin reaches $0.5, an investor would need to have around 2 million coins, currently valued at around $360,000.

"Given all these figures and probabilities, millionaires will be made in the next two to three months," the analyst said.

This reality check emphasizes the massive amount of money needed to reach the 'millionaire' goal that is being used to recruit potential investors in the cryptocurrency.

Related Link: Stellar Lumens, A Better Investment Than Dogecoin?

Another analyst, "abermix," pointed out that Dogecoin is currently trading above a long-term parabolic trendline that began around $0.05 during 2022-2023. Despite several attempts to break below this curve at different price levels—$0.06, $0.08, and $0.14—Dogecoin has rebounded to stay above the line.

The price is currently trading slightly below both the short-term and long-term exponential moving averages (EMAs). A breakout above $0.20 could validate a larger trend reversal and open the door for further advances, according to experts.

According to April 25 reports, Dogecoin has pulled away from a "falling wedge" formation that had kept it in a downtrend for several months. It also tested key levels of resistance in February at $0.28 and April at $0.16.

While these technical indicators may appear promising, it's important to note that cryptocurrency prices are highly volatile. This price movement follows several months of horizontal trading after Dogecoin’s peak at $0.19, and any investment decision should take into account the volatility of the market.