Is Dogecoin Ready to Moon? 300% Rally in Sight?

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Ah, the joy of a memecoin on the rise!

  • DOGE, after breaking out of its long-term slump, is giving us a glimpse of hope. A double bottom, my dear friend, a formation that promises a rise to new heights, or perhaps just a modest bump… who knows?

  • And let’s not forget, DOGE’s futures open interest, spot volumes, and holders’ profit are showing rising demand. A bit of optimism, at last!

Dogecoin (DOGE) is strutting its stuff with all the grace of a ballet dancer—albeit a bit of a scruffy one. It has formed a textbook double bottom pattern on the daily chart (the kind of pattern that says, “Hey, maybe we’re not done just yet!”). This little chart wonder signals a reversal after DOGE broke free from a long-standing downward trend. A shift in momentum, I dare say! A breakout, followed by a retest between $0.19 and $0.21. But what does this all mean for us? A $0.25 price? Perhaps… and then, who knows, the glorious $0.48 awaits! It’s like the treasure at the end of a very bumpy road.

Dogecoin chart showing bullish trends

But, of course, the plot thickens. On the weekly chart, DOGE’s larger structure is a thing of beauty—an ascending broadening wedge. This is the kind of formation that makes crypto analysts like Trader Tardigrade break into a sweat. Why? Because it has “parabolic breakout” written all over it. The price action is hinting at a potential breach of the upper boundary. So, if DOGE does the unthinkable and hits $0.25, could we see a 300% rally? Well, $1 might just be the new moon.

Dogecoin technical chart

Let’s talk numbers, shall we? Open Interest in DOGE futures jumped by a staggering 67% in July, climbing from $1.70 billion to $2.85 billion. That’s a lot of speculative action, my friends! But the funding rates are holding steady, so no need to panic just yet. In fact, the spot market is showing healthy net buying pressure. The market isn’t overheated—yet.

Open Interest in DOGE futures

And here’s a fun little nugget: DOGE’s Long-Term Holder Net Unrealized Profit/Loss (LTH-NUPL) has entered the “Optimism-Anxiety” zone. If that doesn’t sound like the emotional rollercoaster of a crypto holder, I don’t know what does. The long-term holders are sitting on moderate profits and cautiously beginning to feel… optimistic! (Just don’t tell them we said that.)

LTH-NUPL chart for DOGE

Historically, every time DOGE has broken out, it’s after entering this zone. So, who’s ready for another round of soaring prices? Buckle up, my friends. It could get bumpy—and exciting—real fast.

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2025-07-18 01:39