Dogecoin price rally extends weekly gains to 19%, forming a bullish “Golden Cross” pattern, historically linked to major rallies.
Amid the broader crypto market rally, Dogecoin DOGE $0.19 24h volatility: 1.6% Market cap: $28.62 B Vol. 24h: $4.58 B price has surged by 7% to $0.24, extending its weekly gains to 19%. The DOGE price chart shows the formation of a ‘Golden Cross’ pattern, suggesting a major rally ahead in the making. This could lead to a major breakout for the largest meme coin, setting the stage for a sector-wide rally.
Dogecoin Price Forms Golden Cross Pattern
A major bullish indicator for DOGE is the formation of the ‘Golden Cross’ pattern on the technical chart. This chart pattern occurs when the 50-day simple moving average (SMA) for an asset crosses above the 200-day SMA. This highlights that the short-term momentum is overtaking the longer DOGE trajectory.
Dogecoin price Golden Cross | Source: TradingView
Although the formation of a ‘Golden Cross’ is no guarantee of a rally, it has been largely successful in the case of Dogecoin price. Most of Dogecoin’s previous major rallies have coincided with the formation of a golden cross. For example, following the golden cross on Nov. 6, 2024, prices jumped over 130% to $0.46 within four weeks. A similar pattern occurred after a bullish crossover on November 22, 2023, which led to a 25% gain in the same timeframe.
Another popular crypto analyst, Chris Stonk, reported that DOGE’s monthly Relative Strength Index (RSI) remains near the bottom of its historical range, suggesting limited upward momentum so far. He added that this indicates that DOGE is significantly undervalued among large-cap altcoins at present.
The $DOGE monthly RSI hasn't even left the bottom of the range yet.
Interpret that as you will.
By far the most undervalued large cap altcoin in the entire market at this current juncture.
The blue chip $ETH meme coin. pic.twitter.com/cV6soggUQv
— Chris (@StonkChris) August 12, 2025
Will DOGE Cross $0.30 in the Short Term?
For a very long time period, Dogecoin price has been flirting around $0.22. Despite the strong DOGE whale activity, the meme coin has failed to give a decisive breakout.
During July’s altcoin market rally, while most altcoins staged gains of 30-40%, Dogecoin still underperformed the broader market. Dogecoin price is forming a flag-and-pole pattern on the hourly chart. Popular crypto analyst Ali Martinez stated that the recent breakout could push the price to $0.27 in the near term.
Dogecoin $DOGE targets $0.27 as it forms a bullish flag on the hourly chart! pic.twitter.com/ca5ANErIBJ
— Ali (@ali_charts) August 12, 2025
Crypto analyst Kaleo suggested that the DOGE/BTC chart is showing a setup similar to the price action seen in January 2021, signaling a potential major move.
$DOGE / $BTC chart looks like it's ready to make the same type of move we saw in January of 2021.
Zero doubt in my mind it's only a matter of time before Dogecoin treasury companies are buying billions of dollars worth of the king of the memes.
$6.9420 for one DOGE is a magnet pic.twitter.com/SOq4SUlZ81
— K A L E O (@CryptoKaleo) August 13, 2025
He expressed confidence that Dogecoin could attract significant institutional interest, predicting that treasury companies may eventually purchase billions of dollars’ worth of the token. Kaleo also speculated that $6.9420 per DOGE remains a key target level.
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