Dogecoin Price Prediction- DOGE Eyes $1 as Public Firm Unveils $500M Treasury Strategy

Dogecoin price is the biggest gainer among the top ten largest cryptocurrencies by market cap with a 15% rally in 24 hours to trade at $0.243 today, July 18. DOGE seems to be gearing up for a bigger 380% rally to $1 due to surging institutional interest and the rising odds that the SEC will approve a spot ETF.

Dogecoin Price Eyes 380% Rally to $1

After creating a symmetrical triangle pattern for nearly ten months, Dogecoin is now breaking out, a sign that a massive bull run may be on the way. This breakout appears in this week’s candlestick, which reflects a 23% increase in DOGE price in the last seven days.

The height from the lowest support level of this symmetrical triangle to the December 2024 high of $0.48 represents a 380% price increase, and this could be the same rally that DOGE may record after it overcomes the resistance level of $0.41. Recording such gains could push DOGE price to above $1 for the first time in history.

The RSI is also in favor of a bullish Dogecoin price prediction as it continues to rise after crossing above 50 to show that the bullish momentum is growing strong, and there is a possibility that more gains are likely to happen.

The other indicator that is also increasing the likelihood of a DOGE price rally to $1 in the near term is the AO bars that are now green despite remaining in the negative zone. This outlook shows that the bearish momentum that has affected the meme coin’s price movement in the last seven months has become weak, and there is a high possibility of a breakout happening.

$500M DOGE Treasury, Soaring ETF Odds May Drive Rally

Dogecoin price tends to follow Bitcoin’s price movements, and as long as the latter is gaining, there is a possibility that DOGE will continue with the upward movement. However, other factors within the Dogecoin ecosystem might also aid this rally and lead to this top meme coin posting the same rallies that it did in its early years.

A recent CoinGape report revealed that Bit Origin, a crypto firm listed on Nasdaq, has secured funding to launch a $500 million DOGE treasury in which the funds are going to be used to accumulate more tokens, while others will be used to support the growth of the Dogecoin ecosystem.

Besides this, data from Polymarket shows that there are high odds that spot DOGE ETFs are going to receive approval, with the surge coinciding with the institutional interest from Bit Origin. Currently, there is an 80% chance that these products are going to launch, with the closest date for the next SEC decision being in September 2025.

To sum up, the high level of interest from both retail and institutional investors supports the thesis that a Dogecoin price rally to $1 might be on the way. If this week’s candlestick closes above the resistance level of $0.21 and the buying pressure remains strong, DOGE could reach this price in the coming months.