Dogecoin (DOGE) Eyes 330% Surge to $1 on Wedge Breakout

Published: 2025-08-15 15:51:56 |

Analyst Trader Tardigrade predicts Dogecoin (DOGE) could jump over 330% to reach $1 after a falling wedge breakout on the two-week chart. DOGE has traded around $0.23 since mid-August, holding above its 20-, 50-, 100- and 200-day EMAs ($0.21–$0.224), which now act as support. The RSI and stochastic oscillator both sit in neutral territory, while key resistances lie at $0.25 and $0.35. On-chain data from Santiment shows whales bought 2 billion DOGE in the past week, shifting coins off exchanges and reducing circulating supply. IntoTheBlock reports that long-term DOGE holders (over one year) are at record highs, indicating lower sell-pressure. In the futures market, open interest has climbed to multi-month highs, with slight positive funding rates signalling bullish sentiment. DOGE’s 30-day price correlation with Bitcoin (BTC) stands at 0.67, meaning Bitcoin’s direction could influence DOGE. For a rally to $1, DOGE must first clear $0.25 and $0.35. Continued whale accumulation, robust futures interest and a strong Bitcoin trend could drive the next leg higher.

Bullish

Trader Tardigrade’s forecast follows a classic falling wedge breakout pattern, which historically leads to sharp rallies, as seen when DOGE surged in 2021. Rising whale purchases shift large volumes off exchanges, tightening supply and setting the stage for upward pressure. Meanwhile, record-high long-term holdings and increasing futures open interest reflect growing trader confidence. Positive funding rates in DOGE futures indicate predominant bullish bets without extreme leverage that could trigger rapid reversals. With DOGE currently above key moving averages and RSI in neutral territory, the market is primed for an upside move once it clears near-term resistances at $0.25 and $0.35. In the short term, traders may see a quick rally upon a confirmed breakout. Over the longer term, sustained accumulation by whales and steady demand, aided by Bitcoin’s performance, could underpin a push toward $1. However, a sharp decline in Bitcoin or a slowdown in whale activity could limit gains. Overall, these conditions suggest a bullish outlook for DOGE.