Dogecoin (DOGE) Price Rockets 49% in Nine Days: What's Next?

Dogecoin just smashed through resistance with a massive 49% rally, and traders are wondering if this is just the beginning of another legendary run.

The crypto market is getting pretty wild right now, and Dogecoin is leading the charge. With Bitcoin showing strength and the Fed meeting coming up on July 29-30, everyone's betting on a rate cut that could send cryptocurrencies to the moon. And honestly? DOGE is already halfway there.

Over the past nine days, Dogecoin has absolutely exploded, jumping 49% as smart money poured in after weak hands got shaken out. This isn't just random hype either – the volume is backing up these moves, which means real buyers are stepping in.

DOGE Price Follows the Same Script as 2020

Here's where it gets interesting. Dogecoin's current price action looks eerily similar to its legendary 2020 breakout. We're talking about the same pattern that took DOGE from pennies to over 70 cents. The meme coin jumped from around $0.164 to highs near $0.245, and bigger players seem to be quietly accumulating for what could be another massive move.

The technical indicators are screaming bullish right now. The RSI just crossed above 70, which usually means strong buying pressure is building. Plus, the MACD histogram turned positive, giving us another green light that this rally might have legs.

Where Can DOGE Price Go From Here?

So what's next for Dogecoin? In the short term, traders are eyeing the daily 200 SMA at $0.224. But if this rally really takes off, we could see DOGE push toward $0.40 – and that's where things get really spicy.

Everyone's still talking about whether DOGE can ever hit $1. From current prices, that would be a 426% pump. Pretty ambitious, but hey, this is crypto we're talking about.

On-chain analyst Ali Martinez thinks DOGE could see up to 50% gains if it holds above $0.16. Good news is, the price already flipped $0.18, so we're looking decent. Martinez shared a chart showing a long-term ascending trendline from late 2023, and DOGE has been respecting it like clockwork.

Veteran trader Peter Brandt noticed something cool too – DOGE is following classic chart patterns, just like in 2020 when a sideways accumulation phase turned into an inverse head-and-shoulders formation. That pattern led to explosive gains back then.

DOGE/BTC Pair Shows Bullish Signs

Here's something most people are missing: the DOGE/BTC pair just hit its lowest point in over a year. But instead of being bearish, this could actually be setting up for a massive reversal. The Bollinger Bands are signaling a potential turning point, and historically, when DOGE hits the bottom of its monthly range against Bitcoin, it's usually time for altcoins to shine.

If DOGE can hit $0.18 with solid volume, it could easily rocket to $0.22, especially with how thin the liquidity is in the meme coin market right now. The Fibonacci retracement shows $0.24 lines up perfectly with key resistance levels between 0.5 and 0.618 – zones that have always been crucial for price reactions.

With the Fed meeting around the corner and crypto sentiment turning bullish, Dogecoin is positioned for what could be its next big run. The question isn't if DOGE will move higher, but how high it can actually go this time around.