The Dogecoin bull run is gaining momentum as the token is aiming for higher targets with ease. The recent surge of over 250% in the past few days has pushed the token higher to become the 6th largest cryptocurrency in the market with a market capitalization of $60 billion.

Additionally, the token volume has increased to insane levels, from around $5 billion to $6 billion to $26.2 billion, which sheds light on the massive trading activity on the platform. With this, the DOGE price is expected to remain bullish throughout the rest of 2024.

Will Dogecoin Hit $1 by 2024?

Dogecoin price has surged to a 3-year high, surpassing $0.31 in a surge this week, jumping from lows around $0.18. The current trading setup shows strong bullish momentum as the price reaches levels not seen since 2021. The market has reacted to social media buzz surrounding Elon Musk and Donald Trump, demonstrating DOGe's sensitivity to a high-profile mention.

DOGE price is currently trading between the important resistance and support levels of $0.4520 and $0.3754, which are also the FIB levels of 0.786 and 1. Trading volume is largely in favor of the buyers and as a result, the RSI has broken above the resistance of the rising channel. Now that it has entered the overbought zone, sustained trading volume above $16 billion to $18 billion in favor of the buyers could force it to stay in this zone, otherwise, a pullback could be imminent. With the MA experiencing a Golden Cross, the possibility of a pullback is still far away but the possibility of reaching $1 by 2024 depends on the rally breaking above the last resistance level before the ATH at $0.50.

How much will 1 Dogecoin be worth in 2025?

From a broader perspective, the DOGE price appears to be on the verge of a major breakout. The token is closely replicating the previous pattern, suggesting a massive price surge that could push the price well beyond any expectations.

The long-term price action shows similarities between the current trading setup and the 2021 bull run. The 50-day and 200-day MAs underwent a bearish cross or “Death Cross” and quickly within a few days underwent a bullish cross or “Golden Cross” that triggered an 8000% rally to mark a high of $0.7376. The token has now withstood the Death Cross and the Golden Cross is in progress. Therefore, the long-term price action of DOGE suggests that the bull run could be staggering by 2025, with the price of 1 Dogecoin reaching double digits.

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