Dogecoin’s $1 Target in Sight After Breakout—Analyst Lays Out Timeline

Dogecoin just punched through a critical resistance level—now analysts are mapping its path to the elusive dollar mark.

Here’s what’s fueling the surge:

• Meme magic meets macro: Retail traders are piling back into DOGE as Bitcoin dominance wobbles

• Liquidity crunch: Thin order books above $0.75 could turn the next rally into a volatility rocket

• The ’Elon factor’ remains wildcard: One cryptic tweet away from sending DOGE Army into frenzy

Timeline? The smart money sees Q3 2025 as the make-or-break window—assuming Wall Street’s pet stablecoins don’t suck the oxygen out first.

In addition to the trendline breach, the Ichimoku Cloud indicator confirms the bullish momentum. The price has moved above the cloud, flipping its structure into a positive alignment with the green leading span now positioned above the red. This realignment transforms the cloud from resistance into support, confirming the upward bias. Furthermore, the analyst plotted Fibonacci extension levels around price targets at $0.69 (1.618 level) and $0.82 (2.0 level). These levels are widely used by traders to project future movements based on prior rallies. The analysis includes a forecast by the analyst suggesting that DOGE may reach $1 by September 23, aligning with the end of summer. Notably, DOGE would need to surge approximately 327.35% from $0.234 to reach $1. If DOGE reaches $1, the market cap would rise to $149.08 billion, assuming the circulating supply remains stable. Currently, Dogecoin’s market cap sits above $35 billion, up 4% in the past 24 hours. Other Observers Eyeing the $1 Milestone Notably, this is not the only observer eyeing the $1 milestone for the meme coin. In a forecast made last year, Galaxy Research predicted that Dogecoin (DOGE) could build on its momentum through 2024 and potentially reach fresh all-time highs in 2025. The firm suggested that the meme-inspired cryptocurrency might finally achieve the long-anticipated $1 mark, pushing its market capitalization to around $100 billion during the year. Separately, another market analyst pointed to a bullish technical indicator—a cup and handle formation that has been developing since 2021—as a sign that DOGE could approach the $1 level. This analyst projected a specific price target of approximately $0.88 based on that chart pattern. Network Metrics Indicate Surge in User Activity While technical indicators reveal a bullish breakout, on-chain activity also signals rising momentum. Over the past seven days, Dogecoin has recorded a 102.40% increase in new addresses and a 111.32% spike in active addresses. More strikingly, zero balance addresses surged by 155.34%.

Screenshot 2025 05 14T114400650Dogecoin Daily Active Addresses These metrics highlight a sharp rise in user participation. Such spikes typically align with growing retail interest and speculative engagement, often preceding heightened price volatility or sustained bullish phases. The pace of wallet creation and active use suggests broader engagement beyond short-term trading behavior. Futures Market Data Reveals Diverging Trends Meanwhile, data from Glassnode shows notable divergence between Dogecoin’s spot price and futures market activity. While Doge pulled back from its $0.25 high to stabilize around $0.22, futures open interest climbed from $989 million to $1.62 billion. This trend contrasts earlier months. From mid-February through April, futures open interest tracked DOGE’s spot price, declining in tandem during market downturns. However, the recent decoupling indicates persistent speculative positioning, despite cooling price momentum. Glassnode emphasizes this behavior as a signal to monitor.