Dogecoin (DOGE) Price Is Primed to Hit $1 Before February as Market Interest Floods Back

Cryptocurrency markets saw a mixed performance on Jan. 17 as the price of Bitcoin (BTC) briefly dipped below $44,000 before recovering. Among the top performers were memecoins like Dogecoin (DOGE), which surged over 25% following a breakout from a key technical pattern.

After rallying more than 150% in the past two weeks, traders largely expected another breakout for DOGE next week, especially with the crypto market heating up ahead of President-elect Donald Trump’s move back into the White House.

DOGE price surges over 25% after breaking out from a key technical pattern]

DOGE is now the strongest ‘dino’ coin after BTC, XRP - Daan Crypto

Daan Crypto, a crypto trader and investor, highlighted that DOGE’s recent price breakout occurred after two accumulation periods between $0.30 and $0.33. At the beginning of 2025, DOGE saw a swing failure pattern (SFP) that pushed the price below $0.40 once again.

But the recent retest and recovery above $0.35 set up a strong base for Dogecoin to rally further, according to the trader, who said:

Moreover, the analyst highlighted that DOGE has the strongest case as a “dino” coin after BTC and XRP. Dino or normie is a term that started trending in late-2024 to describe old bull market crypto assets like XRP, DOGE and others that performed poorly in the past bull market.

After hitting a low of $0.28 on Friday, DOGE whales appeared to be piling back into the memecoin as market interest started flowing in again. According to data from Santiment, DOGE whales made a $200 million purchase in the past 48 hours.

There's a 60% chance DOGE hits $1 before Feb - WSB Trader

As momentum in the markets picked up steam, an anonymous crypto commentator known as WSB Trader highlighted that the memecoin has a more than 60% chance to hit $1 before the end of January. According to the trader:

Similarly, a crypto investor known as Johnny told his 785,000 followers that retail might be impacting DOGE in a way that is similar to how they impacted XRP. According to the investor, once the memecoin starts trending, it will trend “hard again” and hit its psychological level of $1.

Mikybull, a technical analyst, also shared a similar outlook after the crypto asset breached a bullish pennant, as seen above. Following the pattern break, a price target of $1 is also expected.

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