The outlook for Dogecoin (DOGE) is currently bullish as technical indicators suggest a golden crossover is about to occur on the meme coin’s chart. Based on history, such a development could mark the beginning of a massive rally for DOGE.

Dogecoin is about to usher in a golden cross

Cryptocurrency analyst Kevin (formerly OG Yomi) mentioned in an X (formerly Twitter) post that Dogecoin is two to three weeks away from seeing its first weekly golden cross in four years. The analyst added that the last time Dogecoin had a weekly golden cross, it experienced a six-month price rally of 18,000%.

A golden cross occurs when the 50-day moving average (MA) rises above the 200-day MA. This technical indicator is considered a bullish signal as it usually indicates a strong bull market. Therefore, a weekly golden cross for Dogecoin would confirm that the most important meme coin is about to see a parabolic rally.

Dogecoin has yet to show any significant strength in this market cycle so far, even as other leading mee coins like Pepe (PEPE) continue to hit new highs. However, crypto analysts such as Crypto Kaleo assert that the “King of Memes” will not be left behind in this bull run and predict that Dogecoin will still have its days of glory.

Cryptocurrency analyst Javon Marks also recently gave a bullish description of Dogecoin, saying that Dogecoin’s recent pullback looks more like a shock and that Dogecoin is almost ready for a major rally to $0.6533. Marks claimed that this price target is in line with expectations as Dogecoin is well above the resistance trend. The analyst added that it is only a matter of time before Dogecoin achieves a price increase of more than 378%.

Interestingly, Max also raised the possibility of Dogecoin rising further to $1.25, saying that a breakout or sustaining above the initial price target of $0.6533 would propel Dogecoin to such heights.

DOGE’s last pullback before reaching $1

Crypto Kaleo said in the X post that Dogecoin may experience one last pullback before rising to $1. He pointed out that it is "a bit early" for Dogecoin to see a "surge" now based on the previous cycles associated with Bitcoin halving events. However, the analyst added that the surge will eventually happen and called on Dogecoin investors to be more patient.

As for how low Dogecoin could go, Crypto Kaleo believes that Dogecoin could experience a similar pullback to the one that followed the launch of the spot Bitcoin ETF in January. However, the analyst claims that such a pullback would not be “as crazy in the grand scheme of things.”

Interestingly, Crypto Kaleo predicts that Dogecoin could drop to a low of $0.08 before reaching $1. However, some of his followers disagree, arguing that this scenario is unlikely to happen since $0.08 was the bear market low for the meme coin and the market is still in a bull cycle.