Key Insights:
- Golden crosses in Dogecoin’s MACD have typically come before rallies of up to 300%.
- A double-bottom chart pattern appears to be forming for a near-term target of $0.48.
- The recent 11% sell-off on Dogecoin was caused mostly by Institutional sell-offs.
Dogecoin is flashing bullish signals again. Analysts have drawn attention to the well-known MACD indicator, which has now triggered a “bullish cross” on the weekly chart.
Historically, this trend has always come before price surges for DOGE, and this memecoin could be looking at a surge of up to 340% if the trend repeats.
Could $1 only be the beginning for Dogecoin?
Dogecoin’s MACD Turns Bullish Again
The MACD is one of the most respected tools in technical analysis. It measures the difference between two moving averages and is great for identifying trends. When the MACD line crosses above its signal line, it often points towards the beginning of a bullish move.
Late last year, this very signal came before a Dogecoin price jump of more than 330%. A similar setup also led to a 273% rally in Q4 of the year before. Now, in July of this year, the MACD has formed another bullish cross.
This means that if history repeats itself, investors could be sitting on massive gains soon.
Popular crypto analyst Cas Abbé noted that Dogecoin has already gained 30% since the signal flashed.
$DOGE weekly MACD bullish cross has happened.
In Q4 2023, DOGE pumped 250% after a bullish cross.
In Q4 2024, DOGE pumped 200% after a bullish cross.
So far, DOGE has pumped 30% after the golden cross which means bigger moves are yet to come.
And what'll happen during that?… pic.twitter.com/AwljY7kTSn
— Cas Abbé (@cas_abbe) July 23, 2025
$0.48 as the Next Dogecoin Milestone
More than the MACD signal, the DOGE price chart shows more signs of strength. The cryptocurrency has just formed a double-bottom pattern, which is a bullish reversal signal.
In essence, the downtrend that lasted for months may now be over.
If the breakout holds, Dogecoin could target resistance levels near $0.48. Analyst CipherX recently pointed to a price gap between $0.20 and $0.22 that has now acted as support. Since reclaiming that range, DOGE has shown fresh signs of strength.
“As long as this FVG [Fair Value Gap] holds, momentum looks bullish and continuation is on the table,” the analyst wrote.
$DOGE BULLISH 🚨
After sweeping the lower FVG price reclaimed support and is now pushing up aggressively
→ Currently holding above the mid range FVG around $0.20–$0.22
→ First major TP zone is $0.38–$0.40
→ Main liquidity target sits at $0.48–$0.50 Buyside Liquidity
As… pic.twitter.com/aJapctrzgs
— Cipher X (@Cipher2X) July 23, 2025
If this level of traction continues, the $0.48–$0.50 zone will become a realistic short-term price target. Beyond that, some analysts are eyeing the $1 level, which is a level Dogecoin failed to reach in the previous bull run.
Dogecoin’s 11% Drop on Institutional Sell-Offs
Despite the bullish indicators, DOGE crashed lately, between 23 and 24 July.
The cryptocurrency dropped 11% from $0.26 to $0.24 amid heavy selling pressure, and trading volumes spiked to over 2.26 billion tokens as institutional holders exited their positions.
Technical analysis shows that DOGE struggled to maintain resistance at $0.25. A brief bounce at $0.23 helped stabilize the price temporarily, but selling restarted quickly. The failure to reclaim the $0.25 mark raises the possibility that Dogecoin might crash further downwards, especially if the $0.23 support fails.
Can Dogecoin Still Reach $1?
Hitting $1 has been one of the biggest Dogecoin targets so far. Technically, a move from its current price of around $0.24 to $1 would require a gain of over 300%.
While this seems like a lot, it is not unheard of in crypto, especially for DOGE, which has done it before.
Overall, the path to $1 will require more than just technical strength. Dogecoin’s behaviour around its 200-day EMA at $0.20628 will determine what happens next with the cryptocurrency.
