Dogecoin (DOGE/USD) Is Catching Fire Again as Technical Strength, Growing Retail Interest, and Bitcoin's BTC/USD Surge Fuel Chatter About the Meme Coin Hitting the Iconic $1 Level

Dogecoin (DOGE/USD) is catching fire again as technical strength, growing retail interest, and Bitcoin's BTC/USD surge fuel chatter about the meme coin hitting the iconic $1 level.

Dogecoin (CRYPTO: DOGE) is heating up again as technical strength, enduring retail interest, and Bitcoin's (BTC) (NASDAQ:BTC) surge are fueling chatter about the meme coin reaching the iconic $1 mark.

What Happened: In his May 22 podcast episode, crypto analyst Kevin explained that DOGE could touch its previous all-time highs around $0.95, or even penetrate the "famous dollar level," if Bitcoin continues its upward trajectory.

Attributing this potential breakout to Dogecoin's robust technical structure and persistent popularity among retail traders, Kevin highlighted a crucial price zone for the meme coin.

According to his analysis, while a price point between $3.80 and $4.00 could be possible during this cycle under truly exceptional conditions, his short-term focus is on the $0.26-$0.285 resistance, a meeting point of the macro golden pocket and the 200-day simple moving average.

A breach of this resistance could propel Dogecoin towards $0.33, the measured move from a bullish flag pattern identified on the daily chart.

Highlighting the optimistic technical outlook and persistent interest in Dogecoin, several X users are also discussing the possibility of a breakout to $0.30.

One trader, Bluntz Capital, pointed out that Dogecoin is breaking upward out of a channel and a "god candle" is loading on the chart.

Moreover, Bitcoinsensus noted past bull flags on Dogecoin delivering massive gains: the 1st flag at +90%, 2nd flag with +215%, 3rd flag generating +440%. He believes the 4th flag could lead to $0.95, a 560% spike.

Interoperability protocol Wormhole announced via X post on Tuesday that Dogecoin is now available on the Solana (CRYPTO: SOL) blockchain, unlocking new utility and bridging ecosystems.

"We're excited to announce that Dogecoin is now live on Solana! 🪙 Chain A: BTC, the king, spearheading the charge with his lightning network. Chain B: SOL, renowned for speed and low gas fees. Token: Dogecoin, the meme coin everyone loves. This integration will drive greater liquidity, trading volume, and cross-chain speculation, especially with Solana's high-speed infrastructure supporting DOGE."

This integration could drive greater liquidity, trading volume, and cross-chain speculation, especially with Solana's infrastructure supporting Dogecoin transactions at high speed and low cost.

Also Read: Is A Dogecoin Breakout To $0.30 Brewing?

Why It Matters: As reported by CoinGlass, Dogecoin liquidations dropped to just $2.86 million on May 23, reaching the lowest level since May 8.

Open interest experienced a 3.3% surge, climbing to $3.06 billion—the highest point since May 11, indicating increased market engagement in the meme coin.

Dogecoin is currently trading at $0.2517, down 0.45%.