Can Dogecoin Actually Hit $1? Here’s What Needs to Happen, According to Experts!

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Ah, Dogecoin. That lovable, meme-driven cryptocurrency that somehow refuses to be ignored. It’s been showing some rather cheeky signs of a market revival, and if we’re to believe the latest technical analysis (which we totally do, right?), it might just be on its way to $1. But, of course, only if a few things go according to plan. And let’s be honest, things rarely go according to plan in the crypto world. 😏

According to crypto analyst MMBTtrader (seriously, who comes up with these names?), Dogecoin has recently busted out of a long-term downtrend channel, which is apparently a big deal. The breakout happened on July 15, marking a shift from all the depressing selling pressure to a phase of expansion. You know, like a butterfly breaking out of its cocoon. But no one tells you that sometimes the butterfly is a bit wobbly. 🦋

Breaking Free, and Then What?

So, Dogecoin had its breakout moment, soaring into freedom on July 15. But then, because we’re all just following the usual drama of crypto, it decided to take a little dive back towards the trendline. I mean, who doesn’t love a good dip? It’s like a rollercoaster, but without the safety harness. However, this “dip” was actually a retest, and according to our ever-hopeful analyst, it’s a sign that the bulls are back in charge. 🐂

Of course, every successful retest means that it found support at the golden 0.61 Fibonacci level, around $0.188. Why is Fibonacci so important? Well, if we told you, we’d have to charge you for a private lesson. Anyway, after bouncing off that, Dogecoin is now looking like it might just have the stability to shoot for the stars-or at least the moon again. 🚀

The Road to $1-With a Few Pit Stops

So now that Dogecoin is playing the stable game, what’s next? Let’s talk about targets on its way to the coveted $1. First stop: $0.32. This is where Dogecoin needs to break through a stubborn Fibonacci resistance level, which was also a strong support level back in December 2024. Yes, I know, it’s all very technical, but let’s pretend you’re an expert too. 💼

But wait, there’s more! The magic number seems to be $0.40. If Dogecoin can smash through this red horizontal line (it’s marked clearly for you, dear reader), it will enter what our expert describes as an “extremely bullish” phase. No pressure, right? 💥

If that happens, Dogecoin will have unlocked its true potential, possibly making its way to new heights above the all-time high of $0.73-maybe even up to $0.75 or, dare we dream, $1. And wouldn’t that just be *chef’s kiss*? 😘

At the moment, Dogecoin is flirting with a price of $0.2355, showing a nice little 6.2% rise in the last 24 hours. But the real question is, can it keep up the momentum? Well, according to our optimistic analyst, it needs to stay above the 0.5 Fibonacci level at $0.216. No pressure again. 😅

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2025-08-10 00:48