Dogecoin price forecast: DOGE continues to release buy signals

Dogecoin price forecast: DOGE continues to flash a "buy" signal

Dogecoin has risen slightly at the beginning of the week. It has risen 1.25% in the past 24 hours and is currently at $0.0736. Bitcoin prices also rose by 2.3%. As soon as Bitcoin rises, other currencies will follow suit. The reason for the rise was that the U.S. Bitcoin ETF experienced capital inflows for five consecutive days. This continued buying has given the market a renewed appetite for risk. Dogecoin, as a more volatile "cousin", has increased more significantly under this situation.

In addition, large crypto wallets holding millions of DOGE are continuing to increase their holdings. Derivatives trading has not slowed down either. Several technical indicators point in the same direction simultaneously. Coupled with this week's CLARITY Act, digital assets continue to attract attention.

So the real question now is: Can Dogecoin maintain this rise?

Why are DOGE prices rising today?

Dogecoin is rising because Bitcoin is rising. On July 20, the Bitcoin ETF attracted approximately US$227 million, achieving net inflows for the fifth consecutive day. This purchase pushed the price of Bitcoin higher by about 2.3%, and when Bitcoin performed well, it would drive the entire market. Dogecoin is also affected by this, not because DOGE itself has any special benefits, but because when the overall market rises, it tends to fluctuate more violently than Bitcoin.

Looking at it in depth, there are more positive signals. This week, large wallet holders (often referred to as "whales") purchased about 200 million DOGE units on Robinhood, worth nearly $14 million. At the same time, open interest in dogcoin derivatives rose to about $1.08 billion, meaning more traders are investing money.

The daily MACD has just turned positive, with the RSI of 61.9, which is still far from the overheating range. On social media, people have noticed an increase in net long bets, with cumulative scores reaching 100, indicating buyers are still participating.

The weekly TD Sequential buy signal may mark an important turning point for DOGE.

Cryptocurrency analyst Ali Martinez pointed out that the weekly TD Sequential has issued multiple buy signals in a row, which rarely occurs in high time frames. The chart shows that after several weeks of controllable decline, the candle chart has begun to stabilize around US$0.072. Continuous TD buy signals usually appear when the downward momentum weakens and buyers begin to absorb selling pressure.

This pattern does not guarantee an immediate rebound, but similar signals have appeared near important bottoms for multiple crypto assets in history. There are recurring signs that sellers are losing control, especially as DOGE prices hold on to the same support area for weeks. If Bitcoin remains strong and market liquidity continues to improve, this technical form could become the basis for a larger rebound in the coming weeks.

DOGE prices hold on to key support and momentum begins to improve

We looked at the chart. After several days of sideways trading, the situation began to improve. DOGE prices are back at $0.0735 and continue to reach higher lows, indicating that buyers are quietly returning. Every time the price falls back into the $0.0720 - 0.0725 range, someone buys immediately. Recent candle charts show the same pattern. Source: Tradingview.com

Data also supports this view. The ultimate oscillator reached 67.15, its highest in several days, indicating that buying power is building in different time frames. The RSI is 58.72, above neutral but not yet overheating. Therefore, as long as buyers continue to sell, prices will still have room for upside and will not stretch too much.

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Dogecoin Price Prediction

If buyers can push DOGE above $0.0755, the next target will be $0.0785. Subsequently, the $0.081 to $0.083 range will come into view. To achieve this goal, several conditions need to remain in place: Bitcoin ETF funds continue to flow in, whales remain active, and the CLARITY Act maintains market attention.

On the other hand, if DOGE prices fall below the Fibonacci level of US$0.0725, the situation will turn pessimistic. A further decline could bring prices back to $0.0700. If the entire market weakens further,$0.0680 will be the next support level to pay attention to.

The most likely scenario is that DOGE will consolidate between $0.0725 and $0.0760 for a while before choosing a direction. The technical aspect looks okay, but not excessive. Bitcoin prices continue to attract institutional funds. Weekly TD Sequential is sending a buy signal, indicating a positive future. If all these factors persist during the week, DOGE has a chance to test higher levels before the end of July.

Frequently Asked Questions

Will DOGE go to $1? DOGE prices reaching US$1 is possible, but this depends on wider adoption, continued demand and favorable market conditions. There is no guarantee that dogcoin will reach this level.

Is dogcoin a good investment target? This depends on your investment goals and risk tolerance. Dogecoin has a large community, strong liquidity and extensive market awareness, but it is still a highly volatile cryptocurrency. Investors seeking long-term growth should weigh their upside potential and risks before investing.