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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.
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.
Vladislav Sopov
U.Today Editorial Team