DOGE Rally of 140% Expected, Traders Eye $1 Before February

Dogecoin—DOGE, surged by 10% on January 17, reaching $0.42. A close above $0.40 could signal a major trend reversal. Traders are now anticipating a 140% rally, pushing DOGE toward $1 before February.

Strong Support Sets Stage for Dogecoin Surge

DOGE has been consolidating between $0.45 and $0.30 since November 11. According to crypto trader Daan Crypto, two accumulation periods between $0.30 and $0.33 helped create a solid foundation. 

Although DOGE dropped below $0.40 at the start of 2025, recovery above $0.35 has sparked renewed optimism. DOGE is now seen as a top "dino" coin, alongside Bitcoin and XRP. These older coins are outperforming newer tokens in the current market. 

Traders Eye $1 Target as Momentum Builds

In November 2024, DOGE broke out with a 222% gain in just two weeks. With renewed market interest, DOGE whales purchased $200 million worth of the token in the past 48 hours, further signaling confidence in the coin’s future.

Traders see a 60% chance DOGE will reach $1 before February. WSB Trader, an anonymous crypto commenter, pointed to the influence of Elon Musk and President Donald Trump as key drivers. Crypto investor Johnny believes retail investors will play a crucial role.

Technical analyst Mikybull agrees, noting that DOGE’s breakout from a bullish pennant points to a potential $1 target. With growing momentum and strong backing, DOGE could soon hit this milestone.