Dogecoin Jumps 4%: Can DOGE Hit $1 Soon?

Dogecoin DOGE/USD is up another 4%, prompting trader to echo new predictions of a $1 price target backed by strong technical signals and rising whale activity.

What Happened: Trader Tardigrade expects DOGE to soon hit his diamond bottom target of $0.29, while macro investor Raoul Pal took to X on May 11 to muse about the idea of Dogecoin becoming the “hardest currency” in the world.

He cited the DOGE/BTC chart, which he believes is forming a large bull flag, a pattern that typically precedes significant upward moves.

Meanwhile, crypto analyst Kevin made a compelling technical case for Dogecoin hitting $1 by year-end n his May 11 podcast.

He points out that in previous bull cycles, Dogecoin’s monthly RSI reached at least 89.4, a level not yet hit in the current run.

DOGE previously touched $0.50 when RSI was just 75, suggesting more room to run.

Kevin also referenced the Pi Cycle MA, a metric that accurately signaled DOGE tops in 2017 and early 2021.

Currently, the indicator shows no signs of an imminent peak. He estimates DOGE needs to hit $0.40–$0.41 before it even starts flashing overbought conditions.

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

“First price target is going to be getting back to that 48-cent level, then it’ll be getting to previous all-time highs at 73-74 cents,” he advised, while cautioning against holding altcoins long-term regardless of price action.

Also Read: Dogecoin Surges 26% In 3 Days: What Is Going On?

Why It Matters: Kevin added that a shift toward easing monetary policy, including rate cuts and the end of quantitative tightening, tends to benefit altcoins, especially as Bitcoin dominance starts to wane.

Adding to the momentum, crypto analyst Ali Martinez, in an X post on May 11, reported that DOGE whales scooped up 600 million DOGE in just the past two days.

According to Coinglass, Dogecoin open interest surged 11.3% to $3.16 billion, the highest level since February.

Liquidations in the past 24 hours reached $20 million, split between $10.6 million in shorts and the rest in longs, reflecting how rapidly sentiment and positioning are shifting.

Read Next: