Recent price fluctuations along with important technical signals are showing that the possibility of Dogecoin (DOGE) reaching the 1 USD mark is clearer than ever. Market analysis indicates that DOGE's recent price behavior has set the stage for a strong rally, provided that several key technical levels are conquered.

Turning Point From Mid-July

On July 15, Dogecoin officially broke out of the downtrend channel that had extended since late 2024. This move marks an important shift in market structure — from continuous selling pressure to a phase of expansion, indicating a return of buying strength.

However, after the breakout, DOGE entered a correction phase starting July 21, bringing the price back to test the upper trend line of the downtrend channel. This retest is seen as a healthy move, reinforcing the bulls' position, confirming that the breakout area has become solid support.

Fibonacci And Bullish Signals

A notable technical factor is that DOGE has found strong support at the Fibonacci level 0.61. Specifically, after hitting a low of 0.188 USD on August 2, DOGE surged strongly and closed three consecutive bullish candles on the 3-day chart. According to expert MMBTtrader, this is a clear sign that high-leverage Long positions have been liquidated, helping the market stabilize and prepare for a new rally.

Important Price Targets

Analysts have pointed out the important price milestones that DOGE needs to surpass to head towards 1 USD:

  • First target: 0.32 USD

    This is a resistance area coinciding with the Fibonacci level 0.236, which was also a strong support area in December 2024. Breaking this level will officially eliminate the 'support turned into resistance' status of this price region.

  • Key target: 0.40 USD

    This is a strong resistance area, clearly marked on the chart with a red horizontal line. If DOGE breaks out of the 0.40 USD area, the market will enter a 'highly bullish' phase, opening up significant growth potential.

  • Conquering the old peak and beyond

    When surpassing 0.40 USD, Dogecoin could quickly approach breaking the historical peak of 0.73 USD. The price forecast afterward may aim for 0.75 USD and further is the psychological target1 USD — an iconic milestone for the Dogecoin community.

Conclusion

With the current technical signals and price structure supporting an upward trend, Dogecoin is getting closer to a scenario of a strong breakout. If the bulls can maintain this momentum and break through key resistance levels, DOGE revisiting its record and hitting 1 USD will no longer be a distant fantasy, but a realistic possibility in the near future.