Key Insights:
- Elliott Wave theory suggests Dogecoin could shoot, driven by Wave III’s upward momentum.
- Short-term resistance at $0.4390 must be surpassed for a potential breakout to higher price levels.
- The Golden Cross technical pattern signals an impending price surge, following similar past bullish momentum.
Dogecoin (DOGE) has traded at $0.190960, reflecting a modest 2.61% increase in the last 24 hours. This price fluctuation follows a significant surge in trading activity, with a 24-hour trading volume reaching $1.49 Billion.
Dogecoin has shown resilience despite market volatility. It has bounced back from a recent dip, maintaining steady growth. Analysts are now watching its potential for further gains. Many expect a strong rally during the upcoming altseason.
Dogecoin Elliott Wave Projection: A Potential Surge to $1.275
Analyst Matters predicts a major surge for DOGE using the Elliott Wave framework. This method suggests a strong upward trend in the cryptocurrency’s value.
According to the analysis, Dogecoin enters Wave III, typically the most powerful upward phase in an Elliott Wave cycle. The analyst’s chart on TradingView sets DOGE’s next target at $1.275 using the 1.618 Fibonacci extension level.
This projection covers the years 2019 to 2031. It suggests Dogecoin is following a price pattern similar to past macro-accumulation cycles. The analysis indicates long-term structural consistency in Dogecoin’s price movement.
Notably, the Fibonacci extension levels also forecast higher resistance at $1.5643 (2.0 extension) and $2.0324 (2.618 extension). If the market conditions are favorable, Dogecoin could see rapid growth in the coming years.
The analyst believes this could help the price reach $1.275. The projection depends on Dogecoin following its historical price trends.
Resistance at $0.4390 and Potential Breakout
While the long-term outlook for Dogecoin is bullish, the cryptocurrency faces critical short-term resistance. An analysis from Matters, published on June 8, 2025, highlights $0.4390 as a critical price level for Dogecoin.
To achieve a breakout, Dogecoin must surpass this key resistance point. The analyst emphasized that this level is significant, as it represents the cryptocurrency’s last recent high. Before surpassing resistance, DOGE must move through consolidation zones.
Fibonacci retracement levels shape these zones. These include support and resistance points at $0.2397 (0.618), $0.1741 (0.786), and $0.1351 (0.886).
The chart presents two possible outcomes for DOGE. A bullish breakout could push the price to $0.4390 or higher. A bearish move might send the price down to $0.0899. If the market weakens further, DOGE could drop as low as $0.0443.
The Golden Cross and Imminent Price Surge
Dogecoin’s short-term price action has also caught the attention of analyst Trader Tardigrade. He observed a bullish technical pattern known as the Golden Cross.
When the 20-period and 50-period SMAs cross above each other, this pattern has historically indicated a potential price surge. According to Tardigrade, this pattern is similar to the one between May 6th and 9th, 2025.
This led to significant bullish momentum. As DOGE price aligns with the Golden Cross, the analyst anticipates a similar price surge in the coming days.
This technical indicator is often a strong predictor of price trends. It becomes more reliable when Dogecoin breaks past key resistance levels. If the pattern holds, DOGE may continue rising. The growing optimism around the meme coin could strengthen further.
Dogecoin Network Activity
Dogecoin’s daily active addresses chart supports a bullish outlook. It shows growth across three key metrics: New Active Addresses (NA), Active Addresses (AA), and Zero Balance Active (ZBA) addresses.
Over the past week, NA rose by 102.40%, AA increased by 111.32%, and ZBA had the biggest surge at 155.24%. This sharp rise in active addresses reflects increased network activity and potential market momentum.
This surge indicates a revival of interest in the Dogecoin network. Users are actively re-engaging or rapidly creating new addresses. The rising percentages show more users are becoming active or returning after inactivity.
This trend is powerful in the ZBA category. It reflects previously dormant addresses reactivating. The growing activity signals renewed engagement in the network.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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