Important takeouts:
The 38% surge in Dogecoin reflects the strong market demand that Spot Buyer Volume has been in charge since March.
For the bullish MACD crossover, traders predict a 180% rally, with targets of $0.65 and $1.
Dogecoin (Doge) prices rose in lockstep with Ethereum over the past seven days, winning 38% in May. According to Coingecko, Doge has recorded a trading volume of $4.7 billion over the past 24 hours, ranking fifth in the top cryptocurrencies (excluding Stablecoins).
Memecoin’s market strengths are tied to strong on-chain insights. Data from Cryptoquant noted that Doge’s Spot Taker 90 Days Cumulative Volume Delta (CVD) measuring net differences in volume buying and selling over 90 days was “dominated by taker buyers.” This showed more aggressive purchases than the last seen pattern in November 2024, leading to Doge’s breakout rally of 385% to $0.48 in the fourth quarter of 2024.
Similarly, the long-term holder net unrealized gains/losses (NUPL), which tracks unrealized gains or losses for Doge holders with a lifespan of at least 155 days, exceeded 0.5 for the first time since March 1, 2025, transformed into optimistic or “conviction” sentiment. Nupl above 0.5 means that most holders are at a reduced profit, reliability and sales chances. This optimism strengthens price stability as holders can refrain from selling and restrain them for a higher profit.
The above metrics suggest strong market demand as investors are actively accumulating Dogecoin.
Related: ETH, Doge, Pepe, Atom Rally, and more, the best newest Bitcoin prices ever
Is Doge set to another parabolic rally?
An anonymous technical analyst trader, Tardigrade revealed a bullish outlook that has an advantage in the market structure and includes the Doge/BTC trading pair. The chart reflects previous rallys that saw Doge surge 30,000% from $0.0024 to $0.739, suggesting a similar setup.
Historically, Dogecoin and Bitcoin share a strong correlation of 0.67 over the last three months for each macro axis data. Analysts predict that a lateral stage could follow a surge in BTC, which could trigger a massive Doge Rally for weeks.
In another analysis, the Trader’s Delayed Prison also pointed out that Dogecoin’s immediate target remains at $1 after Memecoin showed its third weekly MACD bullish crossover since 2024. As shown in the chart, breakouts continue, with prices jumping between January 2024 and March 2024 March 2024.
Crypto Trader Javon Marks outlined similar goals for Dogecoin and predicted an immediate goal of $0.65. This is the highest price since May 2021.
“$doge (dogecoin) shows great strength after setting a higher low! $0.6533 could even appear at almost +180% upside, with prices coming in above and more than $1 can appear.”
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