Dogecoin, the popular meme-inspired cryptocurrency, is once again capturing market attention as technical indicators suggest a significant price rally could be on the horizon. Following a period of consolidation, market observers are keen to understand what it would take for DOGE to reclaim the elusive $1 valuation.
According to prominent crypto analyst MMBTtrader on the TradingView platform, Dogecoin has recently completed a critical technical maneuver, setting the stage for substantial upward momentum. The analysis highlights a decisive breakout from a prolonged descending channel that had constrained DOGE’s price action since late 2024. This move, observed on July 15, 2025, signaled a crucial shift from sustained selling pressure to an expansion phase.
Crucially, after this initial breakout, Dogecoin underwent a typical market correction, retesting the upper boundary of the now-broken channel around July 21, 2025. This retest is often viewed by analysts as a confirmation of strength. MMBTtrader noted that DOGE found robust support near the 0,61 Fibonacci retracement level, approximately $0,188, on August 2, 2025. This successful retest and subsequent bounce, marked by three consecutive bullish 3-day candles, indicates that over-leveraged positions have been flushed out, establishing a more stable foundation for a strong move higher.
The path to $1, while ambitious, is outlined with specific technical milestones. The immediate hurdle for Dogecoin is the $0,32 mark, which aligns with the 0,236 Fibonacci resistance level and previously served as a significant support point in December 2024. A clean breach of this level would represent a strong bullish signal.
However, the most critical resistance level, according to MMBTtrader, lies at $0,40, a prominent horizontal zone on the charts. A sustained break above $0,40 would usher Dogecoin into an “extremely bullish” phase. This pivotal move is projected to unlock further upside potential, pushing DOGE towards its previous all-time high of $0,73, and ultimately paving the way for the much-anticipated $1 price point.
As of August 9, 2025, Dogecoin is trading around $0,2355, reflecting a positive performance with gains of 6,2% over the last 24 hours and 17,7% over the past seven days. For the bullish momentum to sustain, holding above the 0,5 Fibonacci level at $0,216 remains paramount. Investors and enthusiasts alike will be watching these key levels closely as Dogecoin navigates its potential ascent.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.
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