Dogecoin traders predict 180% DOGE price rally if Bitcoin gains continue
Summary
Dogecoin (DOGE) price increased by 38% in May, marking its strongest monthly performance this year, with a trading volume of $4.7 billion in the last 24 hours. Onchain data indicates a "taker buyer dominant" trend in DOGE's 90-day cumulative volume delta, suggesting aggressive buying. The long-term holder net unrealized profit/loss (NUPL) recently surpassed 0.5, indicating that most holders are in profit and fostering confidence in price stability. Technical analysis shows a bullish outlook for DOGE, with potential targets of $1 and $0.65, reflecting strong market demand and historical correlations with Bitcoin. The immediate market structure supports a possible parabolic rally for DOGE.
