Dogecoin (DOGE) Meme Coin Rallies, Outperforming Top Altcoins as Traders Speculate on $1 Target

Recently, Dogecoin price surged by 15%, reaching $0.13 and outperforming several top altcoins. Consequently, analysts believe this upward movement signals

Dogecoin (CRYPTO: DOGE) Outperforms Top Altcoins in 7-Day Rally

Dogecoin price surged over the past week, outperforming several top altcoins and emerging as one of the best performers among the digital assets. Several technical indicators and key trader sentiments suggest that the meme coin could be gearing up for another leg of its rally.

What Happened: Meme cryptocurrency Dogecoin price rose 24.80% over the last seven days, outperforming several top altcoins and emerging as one of the best performers among the digital assets. Several technical indicators and key trader sentiments suggest that the meme coin could be gearing up for another leg of its rally.

Dogecoin price movements mirrored those of the broader cryptocurrency market, which saw a strong seven-day performance. The Global crypto market cap rose 6.46% over the last seven days to $1.13 trillion.

Several altcoins, including Polygon (CRYPTO: MATIC), Chainlink (CRYPTO: LINK), and Stellar (CRYPTO: XLM), also posted gains last week, although they were outpaced by Dogecoin.

Dogecoin price movements also outperformed several top altcoins, including Polygon, Chainlink, and Stellar, which saw gains last week but were outpaced by DOGE.

Dogecoin price movements also outperformed several top altcoins, including Polygon, Chainlink, and Stellar, which saw gains last week but were outpaced by DOGE.

Dogecoin price is now trading at $0.1386 at the time of writing.

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DonAlt, a well-known cryptocurrency trader, sees strength in the broader market and believes Dogecoin price could reach the $1 mark if the momentum continues.

“If the market strength continues, I think the meme coin will finally break $1 and Bluntz also supports this view, highlighting that the meme coin sees explosive growth once Bitcoin reaches new all-time highs, which could be happening again.

Bluntz also pointed out that DOGE tends to perform the best toward the end of the market cycles, especially as BTC price continues to gain momentum.

“The thing with DOGE is, basically since inception, it always runs the hardest and most vertically, right towards the end of the cycle after BTC is usually already trading at ATH,” another bullish analyst said in an X post, highlighting Dogecoin’s promising outlook.

Another bullish analyst, Kevin, highlighted promising outlook in an X post, highlighting Dogecoin’s promising outlook.

“Weekly golden cross on Dogecoin is imminent folks. First time in 4 years.”

The Golden Cross technical chart pattern usually suggests an upcoming rally.

Elon Musk, a prominent Dogecoin fan, also played a key role in driving the coin’s price movements last week. Musk addressed the proposed United States Department of Government Efficiency (DOGE) at a Donald Trump rally in Texas on Oct. 21.

Musk received cheers from the crowd after mentioning DOGE in his speech, which also included criticism of the current administration for spending too much taxpayer money, and an increased involvement in politics with a $75-million donation to his pro-Trump America PAC, as reported by the Federal Election Commission.

Some analysts predict even more significant growth for Dogecoin in the coming months. A recent analysis by CoinGape suggests that DOGE price could climb to $4 by May 2025, driven by historical price trends.

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