Dogecoin (DOGE) continues to gain attention from traders and analysts as new technical data suggests the popular cryptocurrency may not have reached its peak yet. According to crypto market analyst Kevin, Dogecoin’s current risk level indicators show the token still has considerable room to climb before entering the kind of overheated conditions that typically precede market tops.

Despite recent volatility, the data indicates that Dogecoin remains in a mid-cycle phase — far from the risk zones that historically signal exhaustion. As market momentum builds, analysts believe DOGE could continue its upward trajectory, with the potential for new highs if favorable conditions persist.

Historical Risk Levels Indicate Mid-Cycle Strength

Kevin’s recent analysis, shared on the social media platform X, highlights Dogecoin’s historical risk levels through a color-coded chart that ranges from 0 to 1. In this model, a reading closer to 1 represents a higher risk of a price correction or market top, while a lower reading signals relative safety and potential for growth.

According to the data, Dogecoin’s current reading sits around 0.52, a midpoint that suggests the asset is not yet in danger of entering an overheated phase. In previous cycles, risk readings above 0.9 have coincided with major peaks — including the 2021 cycle top when DOGE hit its all-time high.

This mid-range reading reinforces the view that the asset is still in an accumulation or mid-cycle growth phase. In other words, while the market has seen steady upward momentum, the extreme euphoria and overbought signals that often mark the end of a bull run have yet to appear.

Technical Chart Patterns Support Continued Momentum

Dogecoin’s latest price action appears to validate the mid-cycle interpretation. After consolidating between $0.22 and $0.23 last week, DOGE recently climbed to $0.255, marking a 12.5% gain over the past 24 hours. The move higher was accompanied by an increase in trading volumes, showing renewed investor participation.

From a technical standpoint, Dogecoin has broken above short-term resistance, and traders now view $0.25 as an important psychological level. Maintaining support above this area could set the stage for another leg upward toward the $0.30–$0.35 range in the near term.

Indicators such as the Relative Strength Index (RSI) and Stochastic RSI (Stoch RSI) are also reinforcing the bullish outlook. Kevin noted earlier that during bull market phases, upward Stoch RSI crosses — particularly from oversold conditions — often precede strong rallies. With Dogecoin’s Stoch RSI recently climbing from low levels, it may suggest that momentum is shifting back in favor of buyers.

Market Context: Institutional Interest and ETF Speculation

Beyond technical indicators, macro developments in the cryptocurrency space are also boosting sentiment. The broader market has seen renewed strength, with Bitcoin and Ethereum both holding near multi-month highs. This positive backdrop often provides tailwinds for altcoins like Dogecoin, which tend to outperform in later stages of bullish market cycles.

There is also growing speculation around a potential Spot Dogecoin ETF in the U.S. market. While no official application has been approved yet, the discussion alone has increased optimism among investors. Analysts suggest that if such an ETF were to materialize, it could provide additional liquidity and mainstream exposure to DOGE — similar to the impact Bitcoin ETFs had on BTC’s recent price surge.

Institutional participation could further reinforce Dogecoin’s next phase of growth, especially as large investors look beyond Bitcoin and Ethereum for diversification within the crypto sector.

Analyst Expectations: Path Toward $1 Still Possible

Based on current metrics, analysts see no immediate signs of a cycle top for Dogecoin. Historical comparisons show that DOGE’s risk levels remain far below previous extremes, leaving significant room for continued expansion before reaching overbought territory.

If current market trends hold and ETF-driven optimism sustains investor interest, Dogecoin could continue to appreciate. Kevin’s analysis points to the possibility that the asset could revisit or even surpass its previous all-time high, potentially aiming for the long-discussed $1 price mark.

However, analysts caution that achieving such levels would likely depend on broader market conditions — including Bitcoin’s trajectory, global liquidity, and macroeconomic stability. A cooling period or correction across the market could delay Dogecoin’s next major move.

The Bottom Line

Dogecoin’s price action and on-chain indicators currently reflect a healthy mid-cycle phase, suggesting the rally still has room to expand. Historical risk data shows the market is far from overheating, and technical indicators point to renewed momentum.

While volatility and market sentiment shifts remain possible, the overall outlook for Dogecoin leans bullish in the near term. If the current trend continues and ETF developments progress, DOGE could be gearing up for one of its most significant upward phases yet — potentially setting the stage for a return to price discovery above previous highs.