The positive dynamics of bitcoin can trigger the growth of Dogecoin by 180%

In May, Dogecoin DOGE $0.23 Binance-Peg Dogecoin -0.13% Market capitalization $0.59 billion VOL. 24 hours $0.45 billion recorded the largest growth since the beginning of the year — 38% per week. This revival was accompanied by a large trading volume that reached $ 4.7 billion per day, which put the token in fifth place among cryptocurrencies by this indicator (excluding stablecoins). This has strengthened expectations among traders for further potential growth — up to 180% if the positive dynamics of bitcoin continues.

Analytical data shows that investors are actively accumulating Dogecoin. One of the key indicators, the 90-day cumulative spot buying volume, indicates a preference for buyers in the market. This behavior was last observed in November 2024, before the token grew by 385% to $ 0.48. Additionally, the unrealized profit index for long-term Dogecoin holders has exceeded 0.5, indicating the dominance of «faith» in the market and a decrease in the likelihood of sales.

Based on these signals, analysts predict target levels of $ 0.65 and $ 1 if the bullish trend continues. Historically, Dogecoin has demonstrated a close correlation with bitcoin BTC $103,630.40 Bitcoin 0.98% Market capitalization $2.06 trillion VOL. 24 hours $2.32 billion , so the upcoming sideways movement of the latter may give DOGE a new impetus. Technical indicators such as the MACD also point to a positive structure forming, which was observed before previous jumps of 180% or more.

In addition, the DOGE/BTC charts show conditions similar to the period when the meme-coin grew by 30,000% in 2021. The current dynamics with the formation of higher lows and new highs is perceived by traders as a sign of the market’s extraordinary strength. While Dogecoin remains below its peak levels, the short-term outlook remains positive.

However, as always, the prospect of significant growth remains conditional and depends on the bitcoin market, the general mood in the crypto sphere, and the behavior of major players. Therefore, the next few weeks could prove to be crucial for DOGE’s pricing.