Dogecoin (DOGE) Price Prediction: Can Dogecoin Ride the Cup-and-Handle Rally and Break the $0.357 Resistance in July?

After gaining over 77% in July alone, Dogecoin is leading the memecoin pack with strong momentum.A break from a classic cup-and-handle pattern, rising trading volumes, and astute institutional support have joined forces to drive the traders’ optimism. With DOGE closing in on a crucial resistance level last seen in early 2024, what the traders now want to know is if the rally can sustain itself.

One of the most powerful developments in dogecoin price prediction is its breakout of a textbook cup-and-handle pattern on the daily graph—a classic bullish setup that often produces powerful upswings. In CCN, this breakout indicates a potential 165% jump in price, which will drive DOGE up to $0.70 in the long term, given positive market conditions.

Two fake alt seasons, endless retracements—enough to shake out the weak. But what’s coming next? Only the brave will be rewarded. Source: CryptoJulio on Tradingview

Crypto analyst Victor Olanrewaju highlights that this pattern confirms the start of a new bullish cycle. “This could be the breakout DOGE holders have been waiting for,” he wrote. Supporting this view, the Money Flow Index (MFI) has risen to 89.12, indicating increased buying activity.

Adding fuel to the bullish fire, Dogecoin news took a sharp turn when Bit Origin Ltd announced a $500 million funding round dedicated to building a Dogecoin treasury. The firm plans to support long-term adoption and market liquidity through this treasury, which may prove pivotal for sustaining the upward momentum of the Dogecoin price.

According to the company’s release, this capital will be used in a “multi-phase DOGE monetization strategy,” a move that could establish Dogecoin as more than just a memecoin and elevate its legitimacy within the broader cryptocurrency market.

DOGE has already cleared significant resistance near $0.25, which had kept the price trapped in a consolidation range since March. Following this breakout, analysts are targeting $0.33 in the near term, with $0.357 as the next key level to watch.

Call it speculative, call it wild—but I’ve been stacking DOGE in the bear. Source: elalemiami on Tradingview

Technical charts show DOGE forming higher highs and higher lows within an ascending parallel channel—a formation that suggests a strong and stable uptrend. The Aroon Up indicator is at 100%, reinforcing the bullish sentiment and indicating consistent price highs within the observed timeframe.

Interestingly, recent on-chain data shows a rise in Dogecoin’s Liveliness metric, which suggests long-term holders are starting to sell. However, this hasn’t slowed DOGE’s rally. Instead, short-term investors appear to be fueling the current surge.

This divergence signals a shift in market dynamics, where retail traders are stepping in with confidence, possibly driven by the renewed optimism across the crypto market. The combination of increased retail interest and institutional backing creates a potent mix for continued price appreciation.

The most immediate challenge for DOGE lies in breaking and holding above the $0.357 resistance zone. Historically, this level has been difficult to overcome. But with rising volume, supportive technical indicators, and growing market confidence, a breakout is possible in the coming days.

DOGE eyes a breakout above $0.35 — but failure to hold current levels could send it back to the $0.21–$0.17 support zone. Source: DrDovetail on Tradingview

However, some caution is advised. If DOGE fails to hold the current levels and faces selling pressure, the price could retrace to the $0.21–$0.17 support range, which may offer a buying opportunity for those anticipating a continuation toward $0.41 or beyond.

Looking ahead, many traders are wondering if Dogecoin will reach $1. While such projections remain speculative, breaking above $0.357 would be a strong technical milestone toward that goal. Longer-term Dogecoin predictions point to targets between $0.41 and $0.70, with the latter aligning with the 1.618 Fibonacci level.

Dogecoin (DOGE) was trading at around $0.26, down 2.78% in the last 24 hours at press time. Source: Brave New Coin

Crypto analyst Rekt Capital adds that DOGE’s double bottom formation and broader market alignment could see it revisit highs not seen since 2021, possibly even testing new all-time highs if bullish conditions persist.

Dogecoin’s July rally is no fluke. The convergence of strong technical patterns, growing investor interest, rising trading volume, and institutional support paints a bullish outlook. Whether DOGE can sustain this momentum and ultimately test $0.357 remains to be seen—but for now, all signs point upward.

For those still asking, “Will Dogecoin hit $1?”—this month could mark a critical step in that journey.