Dogecoin (DOGE) Poised for Its First Golden Cross Since October 2024 – But $1 Still Feels Like a Dream!

Jakarta, Pintu News – Dogecoin is on the verge of forming its first golden cross in almost eight months. However, despite this positive signal, a price increase towards $1 still feels unrealistic.

According to CCN, the Dogecoin price was trading at $0.20, up 5% in the last 24 hours on June 11.

Interest from retail investors still feels far away while the memecoin is just coming out of a bearish phase. So, the question is not whether DOGE will reach $1, but how far can Dogecoin go before the momentum fades?

Dogecoin Breaks Key Moving Averages

On the daily chart (11/6), the last bullish crossover between the 20 EMA (blue) and 50 EMA (yellow) occurred in October 2024, ahead of the US presidential election.

What followed was impressive. In December of the same year, Dogecoin jumped 300%, from $0.11 to $0.48.

Read also: Dogecoin Falls 3% Today (6/12): Could This Drop Spark a Massive Rally for DOGE?

Retail exuberance and political speculation helped trigger the pattern, which is called a “golden cross.”

Since January 29, DOGE was trapped in a bearish pattern when the 50 EMA crossed the 20 EMA, triggering one of the deepest corrections in recent history.

However, as of now, the 20 EMA is almost crossing the 50 EMA from above. If this is confirmed, the Dogecoin price will attempt to break the resistance at $0.25.

However, for this to happen, the bulls will have to maintain support around $0.17.

Memecoins Look Too Cheap

Interestingly, on-chain data supports the bullish case. According to Santiment, Dogecoin’s 30-day MVRV ratio has risen to -1.57% and is approaching the zero line.

This metric tracks whether Dogecoin holders are in a profit or loss position, and historically, it often indicates market peaks and bottoms.

Readings between 17% and 35% indicate overheated market conditions. However, when the MVRV is between 0% and -25%, it indicates that Dogecoin is undervalued and is in an accumulation phase.

As of June 11, DOGE is in that accumulation zone. Therefore, if history repeats itself, this could be a quiet period before the Dogecoin price takes off on its next big run-up.

Read also 10 Best Memecoins that Crypto Investors Bought in June 2025

DOGE Price Analysis: Bulls Return

Analysis on the 4-hour chart (11/6) also shows a similar view. From the chart below, the price of DOGE has broken the upper trend line of the falling wedge pattern.

This breakout confirms that Dogecoin’s corrective phase is over. Therefore, theecoin is likely to break the resistance at $0.21.

In addition, the Chaikin Money Flow (CMF) has risen above the zero signal line. This CMF position is in line with the MVRV ratio signal indicating that Dogecoin is undervalued and in an accumulation phase.

In line with CMF’s position, the Awesome Oscillator (AO) has risen to positive territory, indicating bullish momentum. If buying pressure increases in the near term, DOGE’s short-term price prediction could see it rise to $0.26.

The value of this cryptocurrency may jump to $0.30 in a very bullish case. However, if the bullish momentum fades, this may not be achieved, and the Dogecoin price could drop to $0.16.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. Dogecoin (DOGE) Targets First Golden Cross Since October 2024 – $1 Still in Fantasy Zone. Accessed on June 12, 2025