DOGE’s Bullish Momentum: Can Dogecoin Break $1 Amid Rising Open Interest and Trader Optimism?

Dogecoin (DOGE) is once again capturing the attention of the crypto market as its price rally fuels speculation of a potential surge to $1. Currently trading at $0.2477 USDT, DOGE is testing a critical resistance zone between $0.20 and $0.25. A successful breakout could solidify its position as one of the top-performing assets in the market. This renewed bullish sentiment is supported by a stabilization in open interest at $2.7 billion—a figure that, while half of its 2021 peak, is double the levels seen in February 2025. Additionally, Binance’s long-to-short ratio of 2.23 indicates growing confidence among traders. As institutional engagement picks up, the question on everyone’s mind is whether DOGE can finally hit the elusive $1 mark.

Dogecoin Eyes $1 as Open Interest and Trader Sentiment Turn Bullish

Dogecoin’s price rally has reignited speculation about a potential surge to $1, with the meme coin testing a critical resistance level between $0.20 and $0.25. A breakout could cement DOGE’s position as one of the market’s top-performing assets.

Open interest has stabilized at $2.7 billion—half of its 2021 peak but double February’s levels—signaling renewed institutional engagement. Binance’s long-to-short ratio of 2.23 shows 69% of traders are betting on further upside.

The fading FUD that previously dogged the asset has created room for technical momentum to build. Market structure now resembles the consolidation phases preceding DOGE’s historical parabolic moves.

Dogecoin Breaks Out Of Bull Pennant—Analyst Sets Target

Dogecoin has surged beyond a key technical formation, signaling potential upward momentum. Analyst Ali Martinez identified a bullish pennant pattern on hourly charts, a continuation setup that typically follows a sharp price movement. The breakout suggests renewed buying pressure for the meme-inspired cryptocurrency.

Technical traders are now watching for confirmation of the pattern’s measured MOVE target. Pennant breakouts often project gains equal to the length of the preceding flagpole. Dogecoin’s recent performance reflects growing speculative interest in alternative cryptocurrencies, particularly those with strong retail trader communities.

Dogecoin’s Stochastic RSI Suggests Impending Surge Amid Market Breakout

Dogecoin has demonstrated formidable momentum in its weekly chart, breaking free from months of accumulation with a sharp upward move. The meme coin rallied from below $0.14 to over $0.22 in recent weeks, now trading above $0.24 after escaping a consolidation range between $0.21 and $0.235.

Trader Tardigrade highlights a compelling signal on Dogecoin’s weekly Stochastic RSI, mirroring a technical setup that preceded a 243% breakout earlier this year. The indicator suggests the current bullish move may only be in its early stages, with potential for significant further upside.