Dogecoin (DOGE) traded near $0.18 on July 10, holding above a key trendline for the first time in weeks. Analysts say $1 is possible if DOGE holds its breakout momentum and broader crypto conditions stay supportive.
DOGE Price Holds $0.18 Breakout Zone — Volume Rebounds After Quiet Months
DOGE’s price rose about 5% in the last 24 hours, with its market cap steady near $27 billion. Daily trading volume reached around $1.68 billion, about 6% of market cap — higher than the quiet 2022–2024 range but still below DOGE’s record $42 billion daily volume in May 2021.
DOGE’s daily chart shows the price trading above a descending trendline for the first time in months. Key moving averages between $0.17 and $0.19 now act as short-term support. Analysts note the next resistance sits around $0.20–$0.22, and a close above that range may support a fresh higher-high pattern.
Analysts label DOGE an “early retirement trade,” citing charts that project wedges toward $1 and even $5.
DOGE trades about 75% below its all-time high near $0.73 in May 2021, so a move to $1 would require a gain of more than 450% from current levels.
Whale Wallets Still Control Supply — Ownership Could Sway Next Big Move
Santiment’s on-chain data shows wallets holding 1 million–10 million DOGE control about 7% of total supply, while mid-tier wallets with 100,000–1 million DOGE hold roughly 6%. Larger whale wallets holding 100 million–1 billion DOGE account for about 3.7%, slightly lower than a year ago.
Major holders still control a large share of supply, which can influence price swings when volume spikes. Beyond ownership concentration, development funding also affects how sustainable DOGE’s ecosystem can remain during hype cycles.
Data shows that Dogecoin’s code updates and contributor count have stayed limited since peaking in 2021.
The project relies on volunteer developers and community donations, with no central treasury to fund large upgrades or consistent development. This affects the pace of improvements and feature rollouts compared to blockchains with funded teams. In this gap, traders often rely on big catalysts like ETF speculation and Bitcoin’s momentum to drive sentiment.
ETF Bets and Bitcoin Rally Give Bulls Hope for a Fresh Run
Polymarket prediction market data shows traders give DOGE about a 70% chance of ETF approval by December 31, 2025. No official approval exists yet, but the bet keeps speculative interest active.
DOGE’s breakout aligns with a broader crypto rally. Bitcoin traded above $111,000 on July 10, lifting total crypto market capitalization to about $2.38 trillion, up around 3% week-over-week. Other meme coins like Shiba Inu and Pepe gained 4%–8% over the same period.
DOGE must stay above $0.17–$0.18 to keep the uptrend valid. A drop below this range may test lower support closer to $0.15. If Bitcoin’s rally slows or ETF optimism fades, profit-taking could push Dogecoin back toward its old trendline.
