"The Dream of 1 Dollar: Dogecoin Breaks Out of the Downtrend, the Market is Heating Up"

Dogecoin (DOGE) has increased by 48.7% in the past month, as the crypto market as a whole recovers amid easing concerns over the global trade war. Although the leading memecoin has recently achieved impressive gains, analysts believe that DOGE could still rise before reaching the peak of the cycle. Analysts Identify Signals That Could Predict Dogecoin Peaks According to a recent post by CryptoQuant Quicktake from contributor burakkemeci, the price of DOGE reaching its peak is often accompanied by an increase in retail futures trading activity. The analyst shared the following chart illustrating the relationship between the peak price of DOGE and high-frequency futures trading periods of retail investors.

The chart above has red bubbles marking the stages of excessive retail trading activity in the DOGE futures market. These bubbles often appear near major price peaks, indicating that the market may be too hot during those stages. Conversely, the green and pink bubbles on the chart indicate periods of lower retail participation. These periods often coincide with more stable or "healthier" market conditions, which may provide better entry points for new investors. Analysts emphasize that tracking these red bubbles can help both traders and investors predict potential short-term peaks of DOGE. A surge in retail participation often reflects increasing market greed – often a precursor to strong price corrections. Currently, the futures activity of Dogecoin appears to be in a neutral zone, indicating that this asset may still have room for growth before approaching an overheated state. This view is supported by crypto analyst Anup Dhungana. In a recent post on X, Dhungana shared the following weekly DOGE chart showing the breakout from a long-term descending wedge pattern – a bullish technical setup that often precedes price rallies. Based on this breakout, the analyst predicts that DOGE could reach 1 dollar in the current crypto market cycle.

All Eyes Are On $1 The price target of 1 dollar has long been an iconic milestone for Dogecoin enthusiasts. During the price surge in 2021, DOGE reached an all-time high of 0.73 dollars but ultimately still fell short of the coveted 1 dollar mark. However, this time, some analysts believe that Dogecoin could finally reach the $1 mark. Notable crypto analyst Kevin recently pointed out that the $1.10–$1.25 range is a reasonable target, based on Fibonacci retracement levels.

However, veteran market observer Ali Martinez has warned that DOGE must first break through the significant resistance level at $0.36 to maintain its upward momentum. At the time of the press release, DOGE was trading at $0.22, up 1% in the last 24 hours.