Here’s the Road to $1 for Dogecoin Price Rally-Will it Mark a New ATH in May 2025?

Last week proved exceptionally profitable for cryptocurrency markets. After a prolonged period of consolidation, tokens experienced significant breakouts before market close. Dogecoin (DOGE), stagnant within a trading pattern for over a month, surged 40%, breaking resistance and entering a strong bullish trend. Technical indicators suggest a potential bullish crossover, which could trigger a 200% price increase over the next few weeks.

Following this breakout, DOGE's weekly chart shows a clear upward trajectory with considerable room for growth before encountering major resistance. The DOGE/BTC pair also displays a bullish pattern, reminiscent of the one preceding the 2021 breakout. A similar breakout could push DOGE to a new all-time high (ATH) significantly above $1.

Source: X

The anticipated rise in Bitcoin's price may initially cause a temporary dip in the DOGE/BTC pair, highlighting Dogecoin's increasing strength relative to Bitcoin. However, Bitcoin is expected to trade sideways, allowing altcoins like Dogecoin to maintain elevated prices for several weeks. The crucial question is whether DOGE can reach the key resistance level of $0.75 before the month's end, given its current price above $0.23.

DOGE's weekly chart shows an upward trend within an expanding channel, following its breakout from an ascending triangle. The weekly MACD indicates decreasing selling pressure and is nearing a bullish crossover. The Bull Market Support Band (BMSB) shows a similar trend. Previous instances of these crossovers resulted in price increases of 155% and 350% in 2024. Similar technicals suggest a potential increase of over 260%, potentially leading to a new ATH.

Will DOGE reach $1 in Q2 2025? Dogecoin has rebounded from below its support zone and is now trading within an expanding channel. While trading volume is lower than during previous 2024 breakouts – a potential concern – the price remains within a bullish range. As long as it stays above $0.22, an extended upswing is likely, with short-term targets at $0.35 and long-term targets at $0.75, potentially leading to a new ATH around $0.85.

A pullback is possible before DOGE reaches $1, potentially delaying the timeline slightly, but the Q2 2025 target remains plausible.