July Jump? Dogecoin Set To Soar, Analysts Forecast $1 Break

Dogecoin showed a sudden rebound this week, sparking fresh talk of a major rally in the weeks ahead. After dipping to $0.142 on Sunday, the meme coin has climbed back above $0.16.

According to market watchers, this bounce off long-term support could set the stage for a much bigger move, possibly as soon as July.

Chart Pattern Points To Support

Analysts have noted that Dogecoin’s slide to $0.142 fits neatly into a rising pattern of higher lows. Based on analysis, the dip hit a multi-year trendline that first showed up in October 2023.

At that time, prices fell to a similar zone before reversing. Once Dogecoin found footing, it moved into an ascending channel, forming a steady string of higher highs and higher lows on the weekly chart.