Dogecoin (DOGE) would be heading in the appropriate course for a historical rally that may perchance well also push the meme cryptocurrency beyond $2, in step with an outlook by pseudonymous technical analyst Master Ananda.
Taking a leer on the weekly chart, Ananda highlighted that Dogecoin’s final major bull cycle in 2020–2021 spanned 420 days and delivered a staggering 65,527% surge, lifting the worth to its all-time high of $0.74.
Following the peak, a prolonged undergo market ended in June 2022, with DOGE getting into a consolidation half that has now stretched 1,155 days.
In a TradingView put up on August 17, the analyst illustrious that the most contemporary uptrend, in converse since October 2023, has lasted 672 days and shows energy within a rising parallel channel.
DOGE’s key resistance ranges to glimpse
At the identical time, he highlighted diverse key resistance ranges that stand out. The first major target is $0.47, which will be reached within a month.
A retest of the all-time high conclude to $0.74 would follow, with the next milestone at $1.166, a most fundamental resistance level that may perchance well shape the trajectory of this cycle.
If bullish momentum mirrors previous market extensions, Dogecoin may perchance well ruin into contemporary territory, with the analyst figuring out Fibonacci extension targets at $1.85 and $2.55.
On the everyday aspect, likely institutional interest may perchance well extra gasoline enhance. In this case, Grayscale Investments has filed with the SEC to convert its Dogecoin Belief true into a bulky-fledged alternate-traded fund (ETF), to be listed on NYSE Arca.
If accredited, the fund would give retail and institutional investors regulated exposure to Dogecoin without the want for crypto exchanges or wallets.
The submitting puts Grayscale in competitors with Bitwise, Rex Shares, Osprey Funds, and 21Shares, all aiming to launch the vital U.S.-regulated Dogecoin ETF. Decision points in time for these capabilities lengthen from October 2025 thru early 2026.
Dogecoin label prognosis
At press time, Dogecoin became as soon as buying and selling at $0.23, up 1.3% in the previous 24 hours, despite the incontrovertible reality that down 1% on the week.
At newest ranges, DOGE’s 50-day straightforward appealing common (SMA) stands at $0.2122, whereas the 200-day SMA sits at $0.18. Since the worth stays effectively above both averages, the broader model is tranquil bullish.
Meanwhile, the 14-day relative energy index (RSI) is at 53.05, inserting DOGE in the fair zone, neither overbought nor oversold, leaving room for extra upside.
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