The price of the Dogecoin (DOGE) cryptocurrency is riding a 38% surge in the last 30 days, and has reportedly entered a bullish pattern. According to Crypto analyst TradingShot, DOGE has entered a bullish pattern, which could spark a parabolic rally to $1.5. The analyst also raised the possibility of the leading meme coin reaching double digits.
In a TradingView post, TradingShot said that the Dogecoin price is inside a Livermore’s Cylinder, which suggests that the meme coin could soon rally to as high as $1.5. The analyst noted that DOGE has been trading within a bullish megaphone for the majority of its Bull Cycle since the October 9, 2023, low. TradingShot went on to add that DOGE has been in heavy accumulation and is primed for a breakout above $1.
Similarly, the Dogecoin July price chart is also showing signs of a possible surge, per trader Tardigrade, a notable cryptocurrency analyst. According to the analysis, Dogecoin has reached the consolidation top and may enter a “pump” phase to deliver new price peaks. Currently trading around $0.23, the DOGE meme coin may need a boost from the overall market rebounding in order to achieve this surge.
What Else Could Send DOGE Higher?
Another potential boost for Dogecoin (DOGE) is its recent whale activity. Indeed, whale activity around DOGE has reached levels that haven’t been seen in months. Over 1.08 billion DOGE tokens were actually accumulated by large wallets during a focused 48-hour period earlier this week. This represents approximately $250 million in investment capital. Trading volume has also surged by 77% to $6.43 billion last week, demonstrating renewed market participation right now.
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According to CoinCodex’s Dogecoin price prediction for July 31st, the token is expected to explore $0.25 price mark actively. By mid-August, the token is expected to surge and hit a new price peak of $0.31. “According to our current Dogecoin price prediction, the price of Dogecoin is predicted to rise by 16.71% and reach $0.308261 by August 21, 2025. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 72 (Greed). Dogecoin recorded 20/30 (67%) green days with 16.92% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
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