Dogecoin Eyes $1 Target as Analyst Identifies July Rally Setup Following Support Bounce

• Analyst Chris identifies Dogecoin bounce from multi-year support trendline targeting $1-$1.40
• Technical analysis shows DOGE completing higher-low pattern with July rally potential
• Multiple analysts including Galaxy Research and Javon Marks predict $1 breakthrough

Dogecoin has attracted renewed bullish attention following its recovery from a crucial multi-year support trendline, with analyst Chris projecting a potential rally to $1 or higher beginning in July. The meme coin’s recent 17% surge from weekly lows at $0.142 has validated key technical levels that could provide foundation for a substantial upward move targeting the psychologically important $1 threshold.

Analyst WIZZ highlighted Chris’s analysis in a Tuesday tweet following Dogecoin’s recovery alongside broader cryptocurrency market strength. The projection comes after DOGE completed what appears to be a corrective phase, bouncing from support that has held since October 2023 when the cryptocurrency established its current ascending channel pattern.

Multi-Year Support Trendline Provides Rally Foundation

Chris’s weekly timeframe analysis reveals that Dogecoin’s recent 13% correction brought prices to a crucial demand zone that previously triggered major rallies. The support trendline first gained importance in October 2023 when DOGE found buying interest at similar levels, initiating a price rebound that established the current higher-highs and higher-lows pattern.

The analyst characterizes last week’s drop to $0.142 as part of Dogecoin’s higher-low formation rather than a breakdown of the ascending channel. This interpretation suggests the correction served to test support strength before resuming upward movement, creating conditions for renewed momentum toward channel targets.

Chris projects that continued support at current levels could enable Dogecoin to target the tip of its ascending wedge formation, potentially reaching $1.40. This level would represent a 743% rally from recent lows and establish a new all-time high for the meme coin, finally breaching the long-anticipated $1 valuation milestone.

The timing projection for July aligns with historical patterns where Dogecoin has generated major moves during summer months. Chris emphasizes the importance of profit-taking when DOGE reaches target levels, suggesting the rally may be substantial but potentially subject to reversal once objectives are achieved.

The $1 target has gained widespread support among cryptocurrency analysts and enthusiasts. Galaxy Research, a prominent asset management firm, has predicted Dogecoin will reach $1 before the end of 2025, lending institutional credibility to the projection.

Javon Marks has identified similar technical patterns supporting a move above $1, specifically targeting $1.25 based on bullish continuation formations. His analysis emphasizes chart patterns that suggest the next higher-high in Dogecoin’s sequence could achieve the dollar breakthrough.