DOGE ( price prediction: nearly 40% rise in a single week, expected to challenge the target price of 0.6 USD.

DOGE has surged nearly 40% in price over the past week, outperforming the broader market. The article reveals the reasons behind this rally from two dimensions: technical and on-chain analysis, including the symmetrical triangle breakout on the weekly chart, a spike in volume, and bullish signals from indicators such as the MVRV Z-Score. These factors collectively suggest that DOGE is poised to move towards higher price targets in anticipation of the ETF launch.

DOGE price surges, outperforming the market

In the past seven days, the price of DOGE has risen nearly 40%, trading at around $0.296 as of Saturday (September 13). This increase significantly outperformed the market, which rose about 8% during the same period. The strong rebound in DOGE's price is attributed to traders' strong expectations for the listing of the first DOGE ETF. Although Bloomberg ETF analyst Eric Balchunas announced that the product's launch would be delayed by another week, the bullish sentiment in the market has not faded.

Technical Breakthroughs and Price Targets

The weekly chart analysis shows that DOGE has successfully broken through a symmetrical triangle formation that has lasted for several months. This formation typically indicates that, with strong volume, the price will continue to be bullish.

• Volume surge: During the breakout, the volume increased more than twofold, providing strong technical confirmation for the rise momentum.
• Price Target: Based on the highest height of this triangle pattern, the technical breakout target is around $0.60, which implies nearly 95% upside potential before October. Some technical analysts have set a slightly lower target of $0.45.
• Key support: The Relative Strength Index (RSI) remains below the overbought threshold of 70, indicating that there is still room for further rise. Bulls need to hold the support level of $0.227 near the 50-week Exponential Moving Average (EMA).

On-chain metrics support bullish outlook

In addition to the technical aspects, multiple on-chain indicators also support the bullish outlook for DOGE:

• MVRV Z-Score: The current reading of this indicator is 1.35, which historically indicates a significant rise. It suggests that most holders are not in an extreme unrealized profit state, and the market has not yet entered an overheated zone.
• Spot inflow: This week, the spot market funds have turned into a net inflow for the first time. In the past 24 hours, DOGE recorded a net inflow of 36 million dollars, the highest single-day inflow since January 17.
• Derivatives Market: Market sentiment is also bullish. Open interest surged from 3.31 billion USD at the beginning of the week to 4.6 billion USD. In the past 24 hours, short liquidations amounted to approximately 12 million USD, while long liquidations were only 1.51 million USD, indicating that many short sellers were caught off guard by the unexpected rise.

Conclusion

The recent rise of DOGE is not merely driven by speculation, but is supported by strong technical breakthroughs and positive on-chain indicators. Although the official listing date of the ETF may be delayed again, the market structure indicates that buyers have begun to actively position themselves. This fundamental-driven uptrend distinguishes it from past volatility and has the potential to challenge prices of $0.60 or even higher. DOGE is increasingly transforming from a purely "Meme coin" into a digital asset with serious market foundations, making it worthy of close attention from investors.