Dogecoin remains a focal point for crypto traders, and the latest monthly chart is giving bulls fresh hope. A prominent lower wick has emerged, signaling robust buying pressure and reinforcing the case that DOGE could still climb toward $1.
Key Technical Levels
The Relative Strength Index on the monthly timeframe reinforces this bullish case. RSI has been making higher lows since early 2023, indicating momentum is quietly building despite sideways price action. The indicator is trending within its own upward channel, confirming underlying strength. As long as RSI stays above 50, momentum remains in bullish territory.
What's Fueling the Optimism
Several factors support the technical setup. Dogecoin has a track record of explosive rallies following extended consolidations. Its passionate retail community and ties to Elon Musk keep it in the spotlight. As Bitcoin stabilizes, capital tends to rotate into large-cap altcoins, which benefits DOGE. Any fresh news linking Dogecoin to payments—especially through Musk's X platform—could spark a significant rally.
If DOGE holds its base near $0.10–$0.15 and pushes above $0.30–$0.35, momentum could build quickly, making $1.00 a realistic long-term target. However, losing the rising channel could trigger a retest of $0.09 support, though the RSI divergence suggests buyers remain in control.
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Dogecoin Price: $1 Target Still in Play After Bullish Monthly Signal
Dogecoin remains a focal point for crypto traders, and the latest monthly chart is giving bulls fresh hope. A prominent lower wick has emerged, signaling robust buying pressure and reinforcing the case that DOGE could still climb toward $1.
Key Technical Levels
The Relative Strength Index on the monthly timeframe reinforces this bullish case. RSI has been making higher lows since early 2023, indicating momentum is quietly building despite sideways price action. The indicator is trending within its own upward channel, confirming underlying strength. As long as RSI stays above 50, momentum remains in bullish territory.
What's Fueling the Optimism
Several factors support the technical setup. Dogecoin has a track record of explosive rallies following extended consolidations. Its passionate retail community and ties to Elon Musk keep it in the spotlight. As Bitcoin stabilizes, capital tends to rotate into large-cap altcoins, which benefits DOGE. Any fresh news linking Dogecoin to payments—especially through Musk's X platform—could spark a significant rally.
If DOGE holds its base near $0.10–$0.15 and pushes above $0.30–$0.35, momentum could build quickly, making $1.00 a realistic long-term target. However, losing the rising channel could trigger a retest of $0.09 support, though the RSI divergence suggests buyers remain in control.