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Dogecoin, the first meme coin to become a formidable competitor in the market, is back in the spotlight with a strong price surge, attracting the attention of both traders and long-term holders. After weeks of accumulation below $0.17, the price of DOGE has broken out strongly, surpassing the $0.21 mark and signaling a potential prolonged rally.
With renewed interest from retail investors, market sentiment has improved and significant strength is evident on the chart, the big question arises: Can Dogecoin's price reach $0.25 in the coming days or even exceed this level? This article delves into the latest price movements, analyzes key technical indicators, and provides predictions based on data about what could happen next with Dogecoin's price.
Dogecoin Price Prediction: Why is Dogecoin Rising?
DOGE/USD Daily Chart - TradingView
Dogecoin is showing strong bullish signals as it breaks above the $0.21 mark with robust growth momentum. The current daily Heikin Ashi candle closed in the green with a +2.7% increase, marking the seventh consecutive day of closing in green — a clear indication that buyers are in control of the market. This price increase follows a solid accumulation period below $0.17, and DOGE has now turned the $0.20 resistance level into support.
The Relative Strength Index (RSI) has surged to 72.19, officially entering the overbought territory. This indicates that demand has quickly outpaced supply. However, during strong bullish trends, the RSI can remain in the overbought zone for an extended period, suggesting that this upward momentum still has room before it ends.
What Does the Chart Reveal?
The chart shows a clear breakout above the previous short-term resistance around $0.20. The price of Dogecoin is currently targeting the next major Fibonacci extension levels indicated on the chart:
Fib Extension 0.618: $0.216
Fib Extension 1.0: $0.228
Fib Extension 1.618: $0.249
Currently, the price of DOGE is trading at $0.21255, just below the $0.618 level. A confirmed daily close above $0.216 could push DOGE's price to test the $0.228 level and potentially extend to $0.249, marking a 17.2% increase from the current level.
Calculation:
If DOGE reaches the 1.618 extension at $0.249: ($0.249 - $0.21255) / $0.21255 × 100 = ~17.15% potential upside
Can Dogecoin Reach $0.25 This Month?
Based on the current price momentum, overbought RSI, and continuous green candles, a short-term price increase to $0.25 is within reach—especially if Bitcoin maintains its upward trajectory and sentiment remains positive across the meme cryptocurrency market.
However, with the RSI above 70, caution is still needed. A slight pullback or consolidation between $0.205 and $0.216 would actually be a positive signal for continued gains. As long as DOGE remains above $0.20, the bullish structure remains intact.
Important Levels to Watch
Immediate support: $0.20
Short-term resistance level: $0.216
Medium-term target: $0.228
Bullish breakout target: $0.249–$0.25
Invalidation point: Daily close below $0.19
Dogecoin Price Prediction: Will DOGE Continue to Rise?
The price of Dogecoin is in a clear breakout phase, with strong bullish candles, rising RSI momentum, and a series of higher highs and higher lows. If trading volume increases in the coming days, the likelihood of price rising to $0.228–$0.25 in July is very high. Traders should closely monitor the resistance area of $0.216 - a strong breakout and retest would signal the next bullish move
