Dogecoin (DOGE) has seen a significant surge in 2025, with traders forecasting a potential 180% price rally if Bitcoin’s bullish trend continues. DOGE has gained 38% in May, marking its strongest monthly performance this year.
This surge has fueled optimism among Dogecoin traders, with some predicting that the meme coin could reach $0.65 or even $1, depending on Bitcoin’s momentum.
Key factors driving this bullish outlook include technical indicators such as the MACD crossover, which has previously led to substantial price rallies for DOGE. In fact, the MACD has recently signaled a third bullish crossover since 2024, a pattern that resulted in a 180% jump in January-March 2024 and a 385% rally from September to December 2024.
Additionally, Dogecoin’s market strength is being supported by strong on-chain data. Metrics from CryptoQuant show that DOGE’s spot buyer volume has been dominant since March 2025, indicating that more aggressive buying is taking place. This pattern mirrors the market behavior seen in November 2024, when DOGE experienced a breakout rally of 385%.
Moreover, Dogecoin’s long-term holders have entered a state of optimism, as indicated by the Net Unrealized Profit/Loss (NUPL) metric, which recently crossed above 0.5 for the first time in months. This suggests that a majority of holders are in profit, reducing the likelihood of selling and contributing to price stability.
The strong correlation between Bitcoin and Dogecoin, with a correlation coefficient of 0.67 over the past three months, further supports the idea that DOGE could continue to rally alongside BTC.
According to anonymous technical analyst Trader Tardigrade, if Bitcoin’s momentum continues, it could lead to a sideways phase, after which Dogecoin may experience a significant price surge.
As Dogecoin shows major strength and technical indicators point to more upside, traders are now eyeing $0.65 as the next key target, with the possibility of reaching $1 in the coming weeks.
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