Dogecoin's 1 USD Dream: Analyst Reveals the Last Moment It Could Happen

Dogecoin rose to the sky last week, increasing from below $0.169 on May 8 to over $0.248 on May 12. That is a 35% increase in seven days. Traders and investors are following closely, as some charts and on-chain data indicate that the price will rise even further. Overcoming long-term barriers According to the people following the chart on X, Dogecoin has surpassed the downward trendline that has limited the price increase since January 2025. That line has pushed back price surges around $0.43, $0.19, and $0.16. Currently, with the trading price above these levels, some see a new floor below the price action of DOGE. The Ichimoku cloud has turned to support Based on the data, the Ichimoku cloud has reversed the bullish trend. After the price moved above the cloud, the green area stabilized above the red area. For many traders, this change turns what was once resistance into a cushion for future bullish moves. The Fibonacci level indicates a higher point Analysts have also drawn extended Fibonacci charts for the recent movement. Level 1.619 is at $0.69 and level 2.0 is at $0.81. If Dogecoin follows that path, these lines could mark important stopping points on the way up.

Forecast puts $1 within reach An independent analyst has outlined a timeline for pushing DOGE to $1 by the "end of summer" this year. That would require a whopping 320% increase from the current price of $0.2317. If that happens, the market value could rise to nearly $150 billion, up from about $34.5 billion today. DOGE's market cap has increased by 3.4% in just the last 24 hours. Network activity rises to the sky On-chain data supports the excitement. New addresses have risen to the sky by over 100% in a week, active wallets increased by 110%, and addresses with no balance rose to the sky by 154%. These movements indicate growing interest from retail investors and broader participation beyond quick transactions.

Futures traders are still busy. Meanwhile, open futures on Dogecoin skyrocketed from $989 million to $1.62 billion. This is a drastic change from between February and April, when the price of futures rose and the price of DOGE rose and fell. Currently, the open contract continues to rise despite having fallen from $0.25 to around $0.22. Other voices target the milestone of 1 dollar. Last year's studies showed that Dogecoin could reach $1 and push its market cap to nearly $100 billion by 2025. Another market watcher has been following the cup and handle pattern formed since 2021 and used it to predict a price target of $0.80. What does this mean for traders It is clear that an upward trend is forming, but history warns against going overboard. The trend line can be broken when trading volume is low and bounces back. Fibonacci levels provide guidance, not guarantees. And sudden spikes on the chain sometimes come from short-term bots or wash trading. However, a clear move beyond these technical barriers could open the door to greater volatility. Risk management remains a critical factor.