Dogecoin traders predict that the price of $DOGE will rise by 180% if $BTC continues to increase

A bullish pattern has emerged on Dogecoin's weekly chart, leading traders to predict that DOGE will rise by 180%.

Key points to remember:

The 38% surge of Dogecoin reflects strong market demand, with the volume of spot buyers dominating since March.

The MACD line crossing upwards leads traders to predict a 180% increase, targeting $0.65 and $1.

Dogecoin's price has risen in sync with Ethereum over the past 7 days, increasing by 38% in May, marking the strongest monthly performance of the year. According to CoinGecko, DOGE has recorded a trading volume of $4.7 billion in the last 24 hours, ranking fifth among top cryptocurrencies (excluding stablecoins).

The market strength of memecoins has been combined with insights from on-chain data. Data from CryptoQuant notes that the 90-day accumulated volume delta of spot buyers of DOGE (CVD), measuring the net difference between buying and selling volume over 90 days, has been "dominated by spot buyers". It indicates that buying has been more aggressive than selling, a pattern last seen in November 2024, which led to a breakout rally of DOGE by 385% to $0.48 in Q4 2024.

Similarly, the unrealized profit/loss of long-term holders (NUPL), which tracks the unrealized profit or loss for DOGE holders with a lifespan of at least 155 days, recently crossed 0.5 for the first time since March 1, 2025, shifting to an optimistic sentiment or "confidence". #NUPL