Dogecoin Market Outlook: Can DOGE Recover and Increase in Price?

The price of Dogecoin has increased by nearly 150% since the beginning of this month as the top meme currency continues to experience a strong price surge. Cryptocurrency analyst Alan Santana has provided detailed information on the driving force behind this price increase and whether it is sustainable or not. What is driving the surge in Dogecoin price In a post on TradingView, Alan Santana referred to the monthly chart of DOGE to point out the real driver behind the Dogecoin price surge. He noted that this month marks a breakthrough in price increase and is the first strong green month since the 2021 surge. Analysts have specifically cited January 2021, when a similar action occurred, with a "very strong price surge period" following it. In line with this, Santana declared that just because the price of Dogecoin is witnessing this strong growth does not mean that this is the end. Instead, the analyst declared that this very strong growth signals the beginning of a price increase cycle, so investors can expect many more parabolic price increases for Dogecoin in the future. Santana asks those who still doubt to zoom in on the monthly chart. He revealed that this month's trading session has the highest trading volume since 2021. Furthermore, the analyst mentioned that this month has broken the long-term resistance threshold and downtrend. Finally, he said that this month has ended a three-year consolidation period for Dogecoin prices. The analyst notes that this three-year consolidation could lead to a very strong bull market, which is exactly what is happening. Therefore, Santana reiterates that no matter how high the price of Dogecoin rises this month, it is only the beginning. In the short term, the analyst warns that there may be fluctuations and changes, and even a significant correction could develop throughout the process. However, Santana declared that such corrections are good as they will be used as an opportunity to take profit at resistance levels and buy back and reload at support levels. He added that Dogecoin still has a lot to give and there is no limit to how high the price can go. In a post on X, cryptocurrency analyst Kevin Capital expressed a similar view to Alan Santana, believing that the most explosive phase may still occur for the price of Dogecoin. This happens as he emphasizes the phase of Dogecoin's price and the Relative Strength Index (RSI) are currently on the monthly time frame related to previous price uptrends. He claimed that If the Dogecoin price and RSI level hold, then this DOGE price increase may not end for a long time, and the most explosive phase is still ahead. Cryptocurrency analyst Trader Tardigrade recently predicted that the Dogecoin price could rise to $8.7 in August 2025 if it reflects the 2017 price increase, or rise to $30 in March 2025 if it follows the 2021 price increase.