Dogecoin has surged 38% in May, reflecting strong market demand and recording $4.7 billion in trading volume. Traders are optimistic about a potential 180% rally, targeting prices between $0.65 and $1, driven by a bullish MACD crossover. Recent data indicates a dominant buying trend in the last 90 days, suggesting a robust accumulation of DOGE similar to patterns observed in past breakout rallies. Additionally, long-term holder sentiment, indicated by the Net Unrealized Profit/Loss metric, has shifted to optimistic territory, reinforcing price stability as holders are less likely to sell. Technical analyst Trader Tardigrade highlights the correlation between Dogecoin and Bitcoin, predicting a DOGE rally could follow Bitcoin's upward movements. Traders forecast a target of $1 for Dogecoin, supported by historical bullish patterns from previous MACD crossovers. This optimism aligns with insights from other analysts, suggesting significant potential for Dogecoin as it displays strength after setting higher lows.

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