Dogecoin (DOGE) may be setting the stage for a significant rally, with $0.40 looming as a possible target.
Dogecoin is currently trading up 6.82% over the last 24 hours, at $0.27, showing strong momentum in recent days, aided by increased trading volume and renewed market interest.
Dogecoin has increased since its July 15 low of $0.1884, with six straight days of advances up to an intraday high of $0.279 early Monday.
Dogecoin has risen steadily since June 22, when it hit a low of $0.142. The rally has broken over crucial barriers at the daily SMA 50 and 200, which are at $0.184 and $0.219, respectively.
Analysts highlight Dogecoin’s breakout as having the potential for further upside gains. According to Ali, a crypto analyst, “Dogecoin is breaking out” and “As long as the $0.25 support holds, $0.33 and $0.40 become a magnet.”
For Dogecoin, this means that once $0.33 is breached, $0.40 could come into focus quickly.
Dogecoin rockets 64%
Cryptocurrency prices have risen in recent weeks, boosted by a favorable regulatory outcome, fresh market optimism and positive macroeconomic trends.
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Dogecoin has surged in July, fueled by technical breakout, fund inflows and investor optimism. According to TradingView data, Dogecoin is up 64% so far this month. The meme-based coin concluded with a gain of 37.90% in the past week, its best since May 2025.
Last week, Bit Origin announced plans for launching a Dogecoin treasury backed by $500 million in stock and convertible debt. The company has already secured $15 million in debt funding, the majority of which will be used to make its first DOGE purchase.
The Singapore-based, Nasdaq-listed nanocap said it would be the first business on a major U.S. exchange to utilize DOGE as its primary treasury asset.