Can Dogecoin Reach the $1 Target?

Crypto analyst Trader Tardigrade highlights an important technical signal on Dogecoin’s weekly chart. ” He states that a pattern known as the “Doji Candle” has formed. In the market, the Doji candle is often interpreted as a harbinger of a trend turn. When we look at historical data, Dogecoin had previously achieved a big rise after a similar doji pattern. If DOGE continues to maintain the support of $ 0.16, we can see the possibility of its price moving towards $ 1 and above.

Dogecoin Price and Market Data

Dogecoin is currently trading at $0.16. DOGE has risen 3% in the last 24 hours. It is noteworthy that the daily trading volume is over $ 1 billion. With a daily trading volume of over $ 1 billion, the trading volume increased by 13%. This increase in trading volume is interpreted as an indication that whales are starting to activate. The volume of Dogecoin option transactions increased by 31% to more than $9.6 billion. Some analysts suggest that Dogecoin could climb to the $20 level in a parabolic rise.

Whale Accumulation and Address Activity at its Peak!

At the beginning of 2025, we saw big rises in meme coins with the meme coin hype. With the subsequent selling pressure, we have been seeing a correction for about 2 months. This correction in meme coins also affected Dogecoin. DOGE lost around 37% of its value in this process. But despite this decline, Dogecoin whales continue to accumulate.

According to Santiment data, the number of wallets holding at least 1 million DOGE is growing rapidly. At the same time, active Dogecoin addresses have reached a four-month high. This suggests that investors remain confident in Dogecoin and that the growing demand could push the price higher.

Doge Coin ETF Expectation

The activity in the general cryptocurrency market is also of great importance for the Dogecoin price to rise. Especially ETF applications made by Dogecoin are important at this point. A Dogecoin ETF approval by the SEC may trigger price mobility. With the influence of institutional investors, we can see an upward momentum in the DOGE price.

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