Can Dogecoin Price Hit $0.36 After Soaring 42% In a Week?

Key Insights:DOGE Surges 42% in a Week Amid Bullish Market Sentiment.Inverse Head-and-Shoulders Breakout Targets $0.32+.The SEC’s acceptance of 21Shares’ Dogecoin ETF filing sparks market excitement.Dogecoin price has been on an absolute tear, skyrocketing 42% in 7 days, including a 4.3% jump in the last 24 hours to hit $0.2377 as of 6:26 a.m. EST on a 9.7% drop in trading volume to $3.1 billion. The memecoin that started as a joke is now flexing some serious gains, leaving the crypto investors buzzing with one big question: Can DOGE price keep the vibes going and hit $0.36?This Week’s Major Crypto Developments Impacting Dogecoin PriceThe crypto market has been a wild ride this week, and Dogecoin has been soaking up the energy. The altcoin market has been lit as Bitcoin (BTC) hit a snag at the $105,0000 mark, dragging the whole crypto space into a bullish frenzy. Usually, when BTC pauses its rally, the profits trickle into altcoins. The latest BTC pump has been a major catalyst for altcoins like DOGE, with market sentiment hitting peak “to the moon” levels.Crypto analyst DOGECAPITAL has predicted that the market might soon see a “$10+ DOGECOIN”. He shared a chart on X showing how recent weeks’ price action has established a bottom for Dogecoin price.DOGE Price | Source: XAccording to DOGECAPITAL, he expects the rally that began in mid-April to continue, projecting a cycle peak around October 27, 2025, with a year-end target of $11.71.The Dogecoin ETF speculation has been gaining traction. While it has come to be seen as a good thing, crypto analyst Liberty Dog took a different approach this week, citing that a “Dogecoin ETF could potentially harm Dogecoin.”Among other reasons, he cited that a Dogecoin ETF could increase risks of centralization and market manipulation. He added that while it might boost short-term prices, these factors could harm Dogecoin’s long-term price and community integrity.His remarks come shortly after the United States Securities & Exchange Commission accepts 21Shares’ Dogecoin ETF filing, pushing DOGE open interest up 64%. The markets are showing enthusiasm for the potential DOGE spot-ETF.Dogecoin Price Eyes 32% Extra GainsThe 1-day DOGE/USD chart is giving off some serious bullish energy as Dogecoin price is currently trading at $0.2377, up 4.3% on the day, with a weekly gain of 42%. Dogecoin is rocking a breakout from an Inverse Head-and-Shoulders pattern, which is a bullish setup.Here’s the breakdown: the left shoulder formed around early March at $0.1450, followed by the head dipping to a low of $0.1300 in early April. The right shoulder took shape in early May, bottoming at $0.1634. On May 8, DOGE broke out above the neckline at $0.1843, confirming the pattern.The measured target for this pattern is calculated by taking the distance from the head ($0.13001) to the neckline ($0.1843), and adding it to the breakout point. That gives us a target of $0.3215. So, yeah, $0.36 is totally in play, and we might even overshoot if the bulls keep raging.DOGE/USD Price Chart | Source: TradingViewThe chart also shows key Fibonacci retracement levels. DOGE is currently sitting just above the 0.382 Fib at $0.22381. With the next resistance at the 0 Fib level of $0.2611 and the 0.27 Fib extension at $0.2875. If DOGE can hold above $0.2238 as support. The path to $0.36 looks clear, with the next big resistance at $0.3158 (0.618 Fib extension).Indicators are backing this up. The relative strength index (RSI) is at 69.18, creeping toward overbought territory but not there yet—there’s still room to run. The moving average convergence/divergence (MACD) is also bullish, with the MACD line above the signal line, showing strong upward momentum.So, can DOGE hit $0.36? The technical structure supports it, and the macroeconomic catalysts—like ETF developments and BTC inflows into altcoins—are aligning.Still, caution remains. If market sentiment shifts, a pullback to the $0.1843 neckline is possible. But as long as DOGE holds above key support and bullish sentiment holds, $0.32–$0.36 remains a realistic near-term target.DisclaimerIn this article, the views, and opinions stated by the author, or any people named are for informational purposes only. and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.godfrey mwirigiThe post Can Dogecoin Price Hit $0.36 After Soaring 42% In a Week? appeared first on The Market Periodical.