- Dogecoin has surged 38% in 30 days and entered a bullish Livermore’s Cylinder pattern, with potential to hit $1.50.
- Whale accumulation of over $250 million in DOGE and a 77% spike in volume point to renewed interest and strong upside pressure.
- Price predictions suggest a rise to $0.31 by mid-August, with bullish sentiment and technicals aligning for a major breakout.
Dogecoin is heating up again. With a 38% surge over the past month, the meme-fueled cryptocurrency is turning heads—and some analysts now think it could be on the verge of a massive breakout. TradingShot, a popular crypto analyst on TradingView, says DOGE has entered a bullish pattern known as Livermore’s Cylinder, which historically signals the potential for a parabolic rally. If this pattern plays out, DOGE could spike to $1.50—and possibly even higher in the longer term.
Technical Indicators Hint at Imminent Breakout
DOGE has been consolidating within a bullish megaphone pattern since bottoming out in October 2023. TradingShot believes this long period of accumulation is nearing its end, and the next leg up could push prices past the $1 mark for the first time since its all-time highs. Supporting this view, another crypto analyst known as Tardigrade notes that Dogecoin has reached the top of its consolidation zone and may be poised to “pump” into new territory.
Whale Activity and Volume Suggest Strong Momentum
Beyond technicals, on-chain metrics are adding fuel to the fire. Whale activity has surged, with over 1.08 billion DOGE tokens—valued at $250 million—scooped up by large wallets in just 48 hours. Trading volume also jumped by 77%, hitting $6.43 billion in the last week. This renewed interest from big players indicates strong confidence and may help sustain upward momentum, especially if the broader market continues to rebound.
Price Forecast: Could $1.50 Be Just the Beginning?
According to CoinCodex, Dogecoin is expected to hit $0.25 by the end of July and possibly rally to $0.31 by mid-August. Their indicators show a bullish sentiment and a Greed score of 72 on the Fear & Greed Index, which implies buyers are in control. With 67% green days over the past month and relatively healthy volatility, now might be a strategic moment to enter. If momentum continues, DOGE could blast well past $0.30—and maybe even flirt with that mythical $1.50 target.
