Dogecoin (DOGE) prices have soared by 38% in the past 30 days and have reportedly entered a bullish mode. According to cryptocurrency analyst TradingShot, Dogecoin has entered a bullish mode that could trigger a parabolic rise, reaching up to $1.50. The analyst also mentioned the possibility of this leading meme coin achieving double-digit gains.
TradingShot stated in an article on TradingView that the price of Dogecoin is within the Livermore Cylinder, which means this meme coin may soon rebound to a high of $1.50. The analyst noted that since the low on October 9, 2023, Dogecoin has remained within a bullish funnel for most of its bull market cycle. TradingShot further added that Dogecoin has been accumulating significantly and is expected to break through $1.
Similarly, renowned cryptocurrency analyst trader Tardigrade pointed out that the price chart of Dogecoin in July also shows signs of potential upward movement. According to his analysis, Dogecoin has reached a consolidation top and may enter a 'parabolic' phase, setting new price peaks. Currently, Dogecoin is trading at around $0.23, and it may need an overall market rebound to achieve this increase.
What other factors could drive DOGE prices up?
Another potential driver for Dogecoin (DOGE) is its recent whale activity. In fact, whale activity surrounding Dogecoin has reached levels not seen in months. Earlier this week, large wallets concentrated on purchasing over 1.08 billion Dogecoins within 48 hours, equivalent to about $250 million in investment capital. Last week's trading volume also surged by 77%, reaching $6.43 billion, indicating that market participation is on the rise.
According to CoinCodex's prediction for Dogecoin prices on July 31, the token is expected to actively explore the $0.25 price point. By mid-August, the token is anticipated to surge and set a new price high of $0.31. 'Based on our current predictions for Dogecoin prices, it is expected that by August 21, 2025, the price of Dogecoin will rise by 16.71% to reach $0.308261. Our technical indicators show that the current market sentiment is bullish, while the Fear and Greed Index indicates a reading of 72 (Greed). Dogecoin recorded 20/30 (67%) up days in the past 30 days, with a price volatility of 16.92%. Based on the predictions for Dogecoin, now is a good time to buy Dogecoin.'
