DOGE Price Soars 7% as Altcoin Season Index Rises to 53 – Bulls Eye 58% Gains

Highlights:

• DOGE price has jumped 7.75% to $0.27, with a 30% weekly and 65% monthly gain. 
• Derivatives data show a spike in volume and open interest while the Altcoin Season reaches 53.
• DOGE breaks above a key neckline at $0.26, as bullish technical indicators target 58% gains.

The Dogecoin price shows signs of a breakout above the double-bottom pattern. Currently, the dog-themed meme coin is up 7.75% to $0.27 in the past 24 hours. Its daily trading volume has increased by 60% notably, indicating heightened market activity. The meme coin has seen a 30% surge over the past week and 65% over the past month. This reflects a steady rise in demand, as traders seek to diversify their portfolios. Meanwhile, a well-known crypto analyst, Crypto Kaleo, has noted that “the bull market is just getting started.”

THE BULL MARKET IS JUST GETTING STARTED ANON

— K A L E O (@CryptoKaleo) July 21, 2025

Additionally, the Altcoin Seasin Index on Coinglass, a metric used to measure the performance of non-Bitcoin cryptocurrencies, shows renewed interest. Over the past few weeks, the Altcoin Season Index has risen from 12 on 22 June to 53 as of writing. 

Although this index is still far from signalling the start of the altcoin season, which typically occurs around 75, this recent growth suggests that retail investors are making a comeback with renewed interest in alternative investments to Bitcoin.

On the other hand, the Dogecoin Derivatives Data Analysis reflects a bullish wave. The volume has increased by 57.15% to a new record of 20.08 billion, and the open interest has increased by 20.79% to 5.17 billion. This suggests a growing interest among investors and increased market participation. The massive increase in options volume by 263.81% indicates that speculative traders have high expectations for a DOGE price surge.  

DOGE Price Poised for Further Upside Above the Double Bottom Pattern

The daily chart outlook for the Dogecoin price shows intense bullish sentiment, as the meme coin aims for a breakout above the double-bottom pattern. The dog-themed meme coin has been bouncing between the $ 0.23 high and the $0.14 low before breaking through the $ 0.18 resistance, aligning with the 50-day MA. Meanwhile, the 0.21 level. Aligning with the 200-day MA is also acting as a rebound zone. This tilts the odds in favour of the bulls, as the neckline sits around the $0.26 level. 

As the DOGE price has broken above the neckline level, the technical indicators, including the Relative Strength Index (RSI), support further upside. The RSI currently reads at 83.98, indicating intense buying in the market. On the flip side, it cautions of a potential retracement, as its position signals overbought conditions. 

The MACD momentum indicator notably upholds a buy signal. The green histogram bars are also increasing in size. In the meantime, traders can buy more DOGE tokens unless the trend changes. 

DOGE Targets 58% Gains Despite Overbought Conditions

Looking at the Dogecoin price chart, the bulls are having the upper hand. According to Ali Martinez, if the DOGE price holds above the $0.25 support zone, a rally towards 0.33 and $0.40 could be imminent. 

Dogecoin $DOGE is breaking out! As long as the $0.25 support holds, $0.33 and $0.40 become a magnet. pic.twitter.com/vjNqg6BaGO

— Ali (@ali_charts) July 20, 2025

The 7% pump and the neckline breakout suggest DOGE price could push toward $0.43, marking a 58% gain, if bulls hold the line. A break above $0.27 might ignite a run to $0.48 or beyond in the next few days. However, if support at the neckline cracks, there could be a slide to the 50-day and 200-day MAs on the 1-day chart. Traders will want to keep an eye on the RSI, as overbought conditions might prompt a dip before the next leg up.