DOGE Set to Reach 1 USD? July Could Bring a Surge in Dogecoin Prices, According to Analysts

Dogecoin may be preparing for a major price explosion this July. This sentiment stems from new optimism pushing this meme coin closer to the long-awaited $1 mark. After a strong correction over the weekend, DOGE has shown signs of an increase in price, prompting top analysts to predict an upcoming bull run. The discussion began with analyst WIZZ, who highlighted the bullish setup for Dogecoin in a tweet on Tuesday. DOGE recently dropped to a daily low of $0.142 on Sunday, following a broader market pullback. However, this coin has quickly recovered nearly 17% along with the recovery of Bitcoin, rising back to the level of $0.166 at the time of writing. DOGE Breaks Out of Important Support Level Analyst Chris, whose technical analysis was cited by WIZZ, shared more insights on June 24. He noted that the recent drop of Dogecoin had reached a multi-year support trendline, which previously served as a launchpad for upward moves.

This support level previously fueled a recovery in October 2023, creating a rising channel marked by higher highs and higher lows. Chris believes that the $0.142 correction represents the formation of a healthy higher low and could signal the end of DOGE's recent downturn. With the upward momentum currently forming, he predicts that Dogecoin may continue its upward trajectory and target the upper boundary of the rising wedge, with a bold forecast of $1 to $1.40. Will the July Protest Take Place? According to Chris, July could be a crucial month for Dogecoin to break out, driven by strong technical support and renewed bullish sentiment. If DOGE reaches $1.40, it would mark a 743% increase from its recent low and push the asset to a new all-time high. He also warned investors to take profits at important resistance levels during the volatility. This is not the first time analysts have predicted that DOGE will reach $1. Galaxy Research has previously predicted that Dogecoin will achieve this milestone before the end of 2025. Javon Marks, another well-known analyst, has targeted $1.25 in his forecast, citing a continuation pattern on the DOGE chart. Similarly, analyst Henry predicts a 511% increase after identifying a breakout from a descending wedge pattern in early March. The resurgence of Dogecoin has reignited calls for a price increase across the entire cryptocurrency space, with many analysts now eyeing the $1 mark as a realistic short-term target. With a solid technical foundation, favorable market conditions, and widespread investor enthusiasm, July could truly prove to be a turning point for this beloved meme coin. As usual, investors are advised to closely monitor price movements and consider risk management strategies, even when there is a possibility of achieving a spike in gains.