Dogecoin doge-4.48%Dogecoin has surged over 42% in the past month and was trading at $0.22 when writing.

The rally comes amid rising institutional interest. Grayscale recently launched a dedicated Dogecoin trust, while 21Shares partnered with House of Doge to introduce DOGE-based exchange-traded products in global markets.

Separately, the Dogecoin Foundation is working to advance real-world adoption of the original memecoin. In collaboration with House of Doge, it aims to onboard one million retailers through the Dogebox toolkit, an open-source solution for integrating DOGE payments.

All of these point to a maturing ecosystem, where Dogecoin has evolved from its memecoin roots into a credible player within the broader decentralized landscape.

On the daily chart, DOGE has broken above $0.242, a key resistance level it struggled with back in March.

DOGE price, MACD, and RSI chart — May 15 | Source: crypto.news

It’s also formed a textbook head-and-shoulders pattern over the past few weeks. In technical analysis, this setup often points to a potential trend reversal or continuation.

Adding to the bullish signs, both the MACD and RSI indicators are pointing upward. The RSI is currently at 62, which suggests there’s still room for more upside.

With this momentum, DOGE is well-positioned to return to its year-to-date high of $0.436, which would translate to a 93% rally from current levels.