Dogecoin traders predict 180% DOGE price rally if Bitcoin gains continue

Key Takeaways:

• Dogecoin's 38% surge reflects strong market demand, with spot-buyer volumes taking charge since March.
• A bullish MACD crossover has traders predicting a 180% rally, with targets at $0.65 and $1.

Dogecoin's (DOGE) price rallied in lockstep with Ethereum over the past 7 days, gaining 38% in May, which is its strongest monthly performance this year. According to CoinGecko, DOGE recorded $4.7 billion in trading volume over the past 24 hours, ranking fifth among the top cryptocurrencies (excluding stablecoins)

The memecoin’s market strength has been coupled with strong onchain insights. Data from CryptoQuant noted that DOGE’s spot taker 90-day cumulative volume delta (CVD), which measures the net difference between buying and selling volume over 90 days, has been "taker buyer dominant.” It indicates more aggressive buying than selling, a pattern last seen in November 2024, leading to DOGE’s breakout rally of 385% to $0.48 in Q4, 2024

DOGE spot taker CVD. Source: CryptoQuantSimilarly, the long-term holder net unrealized profit/loss (NUPL), which tracks unrealized profits or losses for DOGE holders with a lifespan of at least 155 days, recently crossed 0.5 for the first time since March 1, 2025, turning to optimistic or “belief” sentiment. A NUPL above 0.5 means most holders are in profit, signaling confidence and a reduced likelihood of selling. This optimism reinforces price stability, as holders could refrain from selling and hold out for higher gains.

The above metrics suggest strong market demand, with investors actively accumulating Dogecoin, which likely contributed to its recent gains

DOGE long-term holder NUPL. Source: GlassnodeRelated: Bitcoin price inches closer to new all-time high as ETH, DOGE, PEPE and ATOM rally

Is DOGE set for another parabolic rally?

With a favorable market structure, anonymous technical analyst Trader Tardigrade revealed a bullish outlook involving the DOGE/BTC trading pair. The chart reflected a previous rally where DOGE surged 30,000% from $0.0024 to $0.739, suggesting a similar setup

DOGE/BTC analysis by Trader Tardigrade. Source: X.comHistorically, Dogecoin and Bitcoin share a strong correlation—around 0.67 over the past three months, per Macroaxis data—meaning BTC’s movements often dictate DOGE’s trajectory. The analyst predicts BTC’s surge could be followed by a sideways phase, triggering a massive DOGE rally for weeks

In a separate analysis, Trader Tardigrade also noted that the immediate target for Dogecoin remains $1, after the memecoin exhibited a weekly MACD bullish crossover for the third time since 2024. As illustrated in the chart, each bullish crossover has been followed by a breakout, with prices jumping 180% between January 2024 and March 2024, and a whopping 385% between September 2024 and December 2024

Dogecoin weekly analysis. Source: Cointelegraph/TradingViewCrypto trader Javon Marks outlined a similar target for Dogecoin, forecasting an immediate target of $0.65, which will be its highest price since May 2021. Marks said,

“$DOGE (Dogecoin) now showing MAJOR STRENGTH after setting Higher Lows! $0.6533 can be coming in another nearly +180% upside and prices could even break above, bringing $1+ into play.”

Related: Bitcoin all-time high cues come as US-China deal sends DXY to 1-month high

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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