Dogecoin (DOGE) is making waves in the crypto world, surging 17.7% in just a week and showing signs of a major breakout that could push it toward the coveted $1 mark. With technical indicators flashing bullish signals, analysts are buzzing about what’s next for the meme coin that’s captured the hearts of millions.

Crypto analyst MMBTtrader, analyzing a 3-day candlestick chart on TradingView, spotted a game-changing moment: on July 15, Dogecoin broke free from a long-term downtrend channel that had trapped it since late 2024. This breakout signaled a shift from bearish to bullish momentum. A retest of the trendline on July 21 confirmed that buyers are now in the driver’s seat, setting the stage for more gains.

The rally gained steam with a strong bounce from the $0.188 level on August 2, followed by three consecutive bullish 3-day candles. This solid price action suggests a healthier market structure, with Dogecoin shaking off over-leveraged positions and gearing up for a potential upward sprint.

Analysts are now eyeing key resistance levels that Dogecoin needs to conquer to keep the momentum going. The first hurdle is $0.32, which aligns with a critical Fibonacci resistance and a former support level from December 2024. Clearing this could spark a bullish reversal. Even more significant is the $0.40 resistance zone—a red line on the charts that analysts say could unlock an “extremely bullish” phase. A clean break above $0.40 might propel Dogecoin past its all-time high of $0.73, with $0.75 and $1 as the next big targets.

As of now, Dogecoin is trading at $0.2355, up 6.2% in the last 24 hours and 17.7% over the past week. Holding above the $0.216 level—tied to the 0.5 Fibonacci retracement—is crucial to keeping the bulls in control. If it slips below, bearish pressure could creep back in.

Can Dogecoin Hit $1? What’s Next for Crypto Markets?

Reaching $1 is an ambitious goal, but analysts believe it’s within sight if Dogecoin maintains its key support levels and keeps the buying pressure strong. The coin’s massive community and growing real-world adoption—like its use in payments and tipping—are seen as powerful catalysts that could fuel further gains.

Beyond Dogecoin, the broader crypto market is showing signs of life. Ethereum’s recent surge past $4,000, led by Ripple and Chainlink’s rally, suggests altcoins are heating up. Ripple’s $200 million acquisition of a stablecoin payments platform and Chainlink’s new funded reserve for its LINK tokens have added fuel to the fire. Meanwhile, President Trump’s executive order pushing for crypto in retirement accounts could bring more investors into the space, boosting sentiment across the board.

However, the road to $1 won’t be without challenges. Analysts warn that failing to hold above $0.216 could stall the rally, and resistance at $0.32 and $0.40 will test Dogecoin’s strength. Still, with technical patterns like a bullish rising wedge and ascending channel forming, and social media buzzing with optimism (like posts on X calling for a $1 target), the stars seem to be aligning for DOGE.

For now, all eyes are on whether Dogecoin can break through these key levels and sustain its momentum. If it does, $1 might just be the start of an epic run.