Analyst Says No Reason for Upcoming Dogecoin Rally to Peak Below $1, Targets $1.17

TradingView analyst says no reason for Dogecoin price rally to stop below the dollar valuation, citing bullish trend from historical price structure. Dogecoin has experienced a short-term dip in sentiment, with its price action reflecting modest volatility in recent days. Beginning near $0.165 on June 25, the meme coin briefly climbed to just above $0.169 by June 30. However, the upward momentum failed to hold, and the price retreated to $0.162 today. This movement occurs against a prediction for a higher target identified by TradingView analyst Master Ananda. Support From 2022 Remains Intact According to Master Ananda’s chart, Dogecoin continues to be supported by a price structure that started forming in June 2022. At the time, DOGE had fallen significantly from its May 2021 all-time high of about $0.74. Since then, a firm support level emerged, preventing further decline and acting as a launch point for a subsequent rally.

Notably, from the June 2022 bear market low, the analyst reports that Dogecoin surged over 880%, reaching a peak near $0.47 in December 2024. This move aligned with the 0.618 Fibonacci extension level. The Fibonacci-based structure, as interpreted by Ananda, shows future price projections and potential market top formations. Fibonacci Targets and Resistance Levels Highlighted Building on this model, Master Ananda outlined the next target of $1.17 based on a Fibonacci level relating to the 2021 bull market and the 2022 bear market. From the current price of $0.1621, a move to $1.17 would reflect approximately 622% upside. When measured from the June 2022 bottom of $0.05, the growth potential to $1.17 reaches around 2240%, equivalent to over 23 times in value. Despite this long-term projection, Ananda also noted that markets follow cycles, stating that corrections often follow bullish moves. With Dogecoin returning to what the analyst called "baseline levels," resistance levels that were cleared in late 2024 will likely need to be tested again. These points include $0.59 and $0.74. Relevant Price Levels If Market Conditions Weaken If the broader market does not perform well, several lower resistance levels remain relevant, according to the analysis. The $0.35 level sits just below the last major high and could become significant under declining momentum.  The analyst stated that the $0.70 level should be watched as it was breached in the December 2024 rally. He also identified $1.05 as a potential new all-time high. According to Ananda, there is no reason for the Dogecoin rally in this bull run to stop below $1. Further Dogecoin Prediction Above $1 Elsewhere, analyst WIZZ shared a projection for Dogecoin to reach $1, citing analysis from top market watcher Chris. In a June 24 tweet, Chris noted that Dogecoin had bounced from a multi-year support trendline after a 13% correction, suggesting the end of the downtrend.  He predicted a rally beginning in July, potentially pushing DOGE to $1 and even as high as $1.40, while advising holders to take profit at those targets.