Dogecoin is showing strong growth as Bitcoin recently reached a new all-time high of $111,600 on May 22, 2025. Currently, Dogecoin has risen over 6%, surpassing Bitcoin's 4% gain in the last 24 hours. According to CoinMarketCap, it has increased from a daily low of $0.2244 to the current trading level of $0.2408.
Its trading volume has also quickly surged by just 4.5% to 2.8 billion; however, interest is starting to spike amid the price surge.
In a tweet earlier today, market analyst Ali Martinez pointed out a bullish breakout on the one-hour chart of Dogecoin, where this coin broke through a 'bullish flag' pattern.
He stated that this move could push the price to $0.31, an increase of nearly 29% from the current level. Martinez also noted that this coin has struggled around the $0.26 mark but now seems ready to rise higher.
On the daily chart, the recent price has tried to break through this resistance zone on May 11 but fell back since then. However, looking at the 4-hour chart, the price has just escaped from a wedge pattern trading downward and is ready to surge.
Meanwhile, another analyst, Chad, confirms that the weekly chart of Dogecoin shows a positive trend. He highlights the higher highs and lower lows of this coin and expects the price to first reach $0.26 and then possibly increase to $0.41. Chad also mentioned that Dogecoin could rise even further to $0.74 in the long term.
This outcome seems feasible thanks to Bitcoin's price increase. Just this year, BTC has risen over 60.51%, with 48% of that coming from a surge in early April when the price began to recover after a decline. Moreover, this new record has been achieved despite the unstable stock market and rising bond yields in the United States.
According to Caroline Bowler, CEO of BTC Markets, Bitcoin's price surge indicates the maturation of the cryptocurrency market. In a previous report, she explained, 'Today's demand is driven by institutional-grade infrastructure and clearer regulation.'
In summary, if Bitcoin continues this growth trend, it could be a positive signal for Dogecoin as it may also help this coin reach a new all-time high. Overall, the price movement of Dogecoin is closely tied to Bitcoin's performance. Any strong reversal in Bitcoin's price could affect Dogecoin's outlook.