DOGE’s Bullish Surge: Analyzing the Path to $0.42 Amid Whale Activity and Musk’s Endorsement

Dogecoin (DOGE) has experienced a remarkable 30% price surge this week, fueled by Bit Origin Ltd's announcement of a $500 million DOGE treasury strategy and Elon Musk's public endorsement. The meme coin broke through the $0.2445 resistance level, confirming a double-bottom pattern with lows near $0.12 in February and June. With whale activity intensifying and technical indicators pointing to a potential $0.42 target, the cryptocurrency market is buzzing with optimism. This article delves into the key drivers behind DOGE's recent performance and what traders can expect in the coming weeks.

Dogecoin Surges 30% as Remittix Gains Traction in Payments Sector

Dogecoin's price skyrocketed 30% this week following Bit Origin Ltd's announcement of a $500 million DOGE treasury strategy. The meme coin broke through the $0.2445 resistance level, confirming a double-bottom pattern with February and June lows NEAR $0.12. Whale activity intensified after Elon Musk's public endorsement contributed to a 22% weekly gain, with analysts now projecting a $0.42 price target based on technical patterns.

Meanwhile, Remittix has emerged as a dark horse in the payment token space, raising $16.6 million through its presale of 559 million RTX tokens at $0.0842 each. The project is gaining attention as it integrates its payment API with major e-commerce platforms, positioning itself as a practical alternative during a cooling meme coin market.

Dogecoin (DOGE) Price Prediction: Memecoin Leader Crushes Competition with 77% Monthly Surge

Dogecoin has surged 77% in July 2025, marking its strongest rally since earlier this year. The cryptocurrency broke through key resistance at $0.25 after months of consolidation, reaching $0.285 and testing February resistance levels. Trading volumes remain well above average, supporting the breakout.

On-chain metrics indicate rising network activity and daily active addresses, with no signs of capitulation. Technical analysis suggests a potential rally toward the $0.33-$0.36 range, though psychological resistance at $0.40 may pose a challenge.

The memecoin leader has outperformed its peers, with sustained momentum and improving network fundamentals. Market participants are closely watching whether Doge can maintain its upward trajectory.

Dogecoin Poised for 218% Rally as Analyst Identifies Bullish Breakout

Dogecoin's recent surge has caught the attention of market analysts, with one expert projecting a potential 218% rally to $0.85. The meme cryptocurrency has demonstrated remarkable resilience, climbing 38% last week alone and marking its fourth consecutive weekly gain—a cumulative 77% increase over that period.

The bullish case hinges on a critical technical development: DOGE has decisively broken through a multi-month descending resistance trendline that originated from February's price rejection. Earlier attempts to overcome this barrier in May proved unsuccessful, with the $0.20-$0.22 range acting as a formidable supply wall. Three consecutive weekly rejections at this level underscored the resistance's strength before this week's decisive breakout.

Analyst 'MangoMan4' observes the formation of a classic bullish structure on weekly charts, suggesting the potential for sustained upward momentum. While Dogecoin has seen slight retracement following its breakout, the technical setup implies the cryptocurrency may be transitioning from months of price suppression to a phase of higher highs and higher lows.