Dogecoin (DOGE) Price: Monthly Chart Patterns Suggest Potential Rally to $5 Level

TLDR

• Dogecoin (DOGE) is trading around $0.24 with technical analysts projecting a potential rally to $5
• Five bullish factors include strong support from moving averages, low RSI with room to grow, and critical support levels holding firm
• The $0.74 resistance level is key for validating the bullish roadmap toward the $4-$5 target range
• Recent price action shows DOGE climbing above $0.2420 with immediate resistance at $0.2550
• Technical patterns suggest a potential timeline with strong bullish action expected in June-July 2025

Dogecoin is currently trading around $0.24 as crypto analysts identify multiple bullish signals that could drive the meme coin toward a $5 price target. Technical analysis reveals five key factors supporting this upward projection.

The monthly chart analysis shows Dogecoin potentially repeating the same technical setup that preceded its historic 2021 surge. The 20-month and 50-month moving averages are acting as solid support levels, similar to their performance during the previous bull run.

Dogecoin’s price recently rebounded from this support zone, mirroring the early stages of the last bull cycle. This pattern suggests the foundation for another rally may be forming.

The Relative Strength Index on the monthly timeframe remains relatively low but shows potential for upward movement. In previous cycles, the RSI reached around 80 before peak prices occurred.

With room to grow toward that 80% level, momentum indicators suggest building pressure for another price rally. The current RSI positioning provides space for continued upward movement.

Critical Support Levels Hold Strong

Dogecoin has maintained critical support levels despite market turbulence, demonstrating resilience in its price structure. The last time this support was tested and held, the meme coin experienced a price increase of approximately 20,399%.

Historical data shows the previous bull rally took about 181 days to reach its peak around $0.477 in 2021. If similar patterns unfold, analysis suggests October 2025 could mark a price climax.

This timeline places June and July 2025 in a critical window that could see strong bullish action. These months may trigger the start or middle phase of DOGE’s projected rally.

Recent price action shows Dogecoin starting a fresh increase after finding support near $0.2220. The cryptocurrency climbed and recovered above the $0.2350 resistance zone.

Dogecoin Price on CoinGecko

Bulls pushed the price above the $0.2420 resistance level, though bears showed activity near $0.2550. A high formed at $0.2542 before some correction occurred.

Key Resistance at $0.74 Level

The $0.74 level represents critical resistance for Dogecoin’s continued upward movement. A breakout above this threshold could validate the bullish roadmap toward the $4-$5 target range.

This resistance level aligns with the upper boundary of an ascending parallel channel containing DOGE’s price movements since mid-2022. Such channels often indicate healthy upward momentum when prices remain within boundaries.

Current trading shows Dogecoin above the $0.2450 level and the 100-hourly simple moving average. A connecting bullish trend line is forming with support at $0.2460.

Immediate resistance sits near the $0.2550 level, with major resistance points at $0.2620 and $0.2650. A close above $0.2680 resistance might send prices toward $0.280.

Technical indicators show the hourly MACD gaining momentum in the bullish zone. The hourly RSI is trading above the 50 level, supporting the positive outlook.

If DOGE fails to climb above $0.2550, potential decline could find support at $0.2450 and the trend line. Major support levels include $0.2385 and $0.2320.

The analysis projects a 1,983% increase from current market prices if the $5 target materializes. DOGE is currently trading at $0.24 with bullish trend line support at $0.2460.