Dogecoin Price Forecast: Key On-Chain and Technical Signals Point to $0.30 Target

Dogecoin (DOGE) price has almost doubled since crashing two weeks ago during a crypto market rout. The top memecoin may continue rallying in the coming weeks, according to a key technical indicator.

DOGE is Testing Support with 100-400% Rally History

After its sharp recovery, Dogecoin has reclaimed a multimonth ascending trendline as support, a structure that has historically preceded 100–400% rebounds since October 2023.

This trendline, which extends from DOGE’s 2023 lows near $0.055, has acted as the backbone of every major uptrend in the past two years.

Currently, DOGE trades near $0.20, sitting comfortably above its 200-week exponential moving average (200-week EMA; the blue wave) at $0.156 and testing the 20-week (green) and 50-week (red) EMA as immediate resistances.

A sustained close above these short-term EMAs could open the door for another leg up toward $0.25, aligning with the 0.382 Fibonacci retracement level of the 2021–2022 downtrend.

If momentum continues, DOGE could aim for $0.31 (the 0.5 Fib line) in November–December and eventually reach $0.37 by January 2026, a confluence target between the 0.618 Fib retracement and the upper boundary of its ascending channel.

Capital Rotation Could Boost DOGE

Despite the recent recovery, Dogecoin remains among 2025’s underperformers, still down over 35% year-to-date versus Bitcoin’s 70% gains and Ethereum’s 45%.

This relative underperformance makes DOGE a potential beneficiary of capital rotation, a phenomenon where traders shift profits from overheated large-cap assets into lagging ones with high volatility appeal.

The DOGE/BTC pair also supports the bullish bias, continuing to consolidate within a multi-year descending triangle pattern while rebounding from its long-term horizontal support near 0.0000017 BTC.

A short-term recovery toward the triangle’s upper trendline at 0.0000022 BTC—about 35% higher—looks likely by December.

Dogecoin’s MVRV Z-Score Signals Room for Further Upside

The MVRV Z-Score chart for Dogecoin indicates that the asset remains undervalued relative to its historical cycles, supporting the case for a continued rebound.

Historically, DOGE’s major rallies—such as in early 2021—have occurred when the MVRV Z-Score surged from near-neutral or negative levels (below the green bar in the chart below).

As of mid-October, the Z-Score hovers around 0.2, just below its previous overheating thresholds, suggesting that market participants are not yet showing excessive unrealized profit, a condition typical of early bull phases.

This pattern implies room for upside before reaching overbought conditions.

If sentiment and liquidity improve, DOGE could revisit resistance near $0.25–$0.30 in the coming months, aligning with both Fibonacci targets and a potential capital rotation from large-cap coins.