Dogecoin: Strong Technical Signal for the 1 USD Target – Will the "Memecoin" Return to the Throne?

Dogecoin, the iconic currency of the meme-coin wave, is gaining attention again in the market as it trades around the 0.20 USD mark on Friday, recording an increase of nearly 17% in the past week and a 24-hour trading volume surpassing 2 billion USD. This development comes after the late June livestream of technical analyst Kevin, who stated that "the chart of Dogecoin is currently one of the most attractive structures among altcoins." The "Double Bottom" Model Accurately Triggers the Breakout Ability to 1 USD During a one-hour analysis, Kevin pointed out a classic technical pattern: the "double bottom" (two bottoms) that has just formed on the weekly chart of Dogecoin. What is particularly noteworthy is that this pattern appears precisely at the intersection of several important technical factors: Simple moving average (SMA) and exponential moving average (EMA) 200 weeks. The Fibonacci retracement level 0.382 of the bullish cycle 2023–2025. The long-term trend line begins from the market bottom in 2022. Kevin commented: "The risk-reward ratio in this area is extremely attractive." According to him, the stop-loss level can be placed just below the technical confluence area, helping to limit risk while the profit target aims for the previous cycle's highs. Technical Momentum Supports a Major Breakout Analyzing the indicator further, Kevin emphasized: Market Cipher: The money flow (money-flow) is curving up for the first time in over a year, indicating that new capital is returning. MACD: Preparing to cross upwards from a higher low. Stochastic RSI: Starting to bounce from the neutral zone, reflecting the accumulation of new momentum. Monthly RSI: Still making higher highs and higher lows – a sign of a long-term uptrend. Stock-RSI: "Still holding, ready to bounce back," he said. All these signals are said to reinforce a surge of Dogecoin, especially as Bitcoin surpasses resistance around the 116,000 USD mark. Price Script: Key Resistance Area and the 1 USD Mark The price map that Kevin provided for the next few months starts from a "resistance box" (purple box) ranging from 0.94 USD to 1.31 USD. These are two important milestones: 0.94 USD: Old peak of 2021. 1.31 USD: Fibonacci extension level 1.618 of the accumulation phase 2022–2024. Kevin believes that the possibility of Dogecoin reaching 0.94 USD is "very high," and if it surpasses 1 USD, the wave of retail investors and trend-following trading algorithms may return strongly. However, he also noted that the target of 1 USD can only be achieved if Bitcoin continues to rise to the 150,000 USD range and the macroeconomic context is favorable – specifically, the Federal Reserve (Fed) ends its monetary tightening policy (quantitative tightening). Warning: Don't Be Deceived by Green Candles Kevin did not forget to warn about short-term risks. The rise of Dogecoin coincides with the moment Bitcoin hit the Fibonacci resistance cluster and USDT.D touched the golden support area (golden pocket) – signs that could indicate a technical correction ahead. He emphasized: "Don't be fooled by green candles. Meme-coins can crash even in a bull market." Expert advice is: Take profit in parts after each strong increase. Move the stop-loss point to break even. Repeat the risk management process. Dogecoin – Still The "Favorite Child" Of Retail Investors In addition to technical analysis, Kevin also mentioned the market sentiment factor: "You can walk into any gas station and see someone owning Dogecoin." That reflects the role of DOGE as a pop culture symbol – the "darling" of retail investors, especially as new capital begins to flow back into the cryptocurrency market on a larger scale than before. Summary: All Eyes are on Dogecoin If the double bottom pattern continues to hold and macro factors support it, Dogecoin could very well become the leading name in the new altcoin season, this time not just with its humorous image on social media but with a real value approaching 1 USD – something that many only dared to "meme" in the previous cycle. Will this famous "dog" make history once again? The current signals support that – but as always with Dogecoin: have fun but don't have too much fun, and always set a stop-loss. $DOGE {spot}(DOGEUSDT)