Dogecoin Eyes 500% Surge as Technical Pattern Signals Breakout

Dogecoin (DOGE) is showing signs of a potential significant move, according to a technical pattern identified by crypto analyst “Surf” on X. The analyst's recent update, based on Dogecoin’s weekly chart, reveals a familiar formation that has historically preceded explosive breakouts for the meme coin. The chart, which tracks DOGE’s price action from 2014 to the present, outlines different falling wedge patterns, each followed by a major breakout. The first wedge occurred in 2016, leading to a surge in 2017. A second wedge formed between 2018 and 2020, before the monumental run in 2021. Now, a third similar formation appears to be nearing completion.

As of the latest weekly close, DOGE is trading around $0.22747 and is testing the upper boundary of the wedge, suggesting a possible breakout. Historically, similar technical setups in Dogecoin’s chart have preceded parabolic gains. If this pattern holds, Dogecoin could be set for another strong upward trend, especially as the broader market eyes potential altcoin momentum heading into the second half of 2025. While confirmation is key, the repeated structure bolsters bullish expectations. However, the analyst did not provide insight into how high Dogecoin could go upon a confirmed breakout. Meanwhile, a growing consensus among other market observers suggests a potential run to the much-anticipated $1 level.

Responding to Surf’s update, one commenter remarked that not much work is left to be done before Dogecoin takes off. Another user, Mark, remarked, “$1 is a magnet,” to which Surf expressed full agreement. Meanwhile, some commenters are lamenting the increasingly long wait time for the breakout. Interestingly, widely followed analyst Trader Tardigrade also shared a similarly promising outlook for Dogecoin, based on a three-day chart. In his analysis, Tardigrade highlighted a potential blast-off to near the $1 level. His conviction also comes from historical occurrences, particularly in early and late 2024. During this time, Dogecoin broke out of a consolidation phase, surging 242.65% from $0.06613 in November 2023 to $0.2266 by March 2024. The price later retraced to the $0.08 level by August 2024, forming a six-month-long consolidation.

However, another breakout followed, this time even more powerful. From a low of $0.08083, DOGE surged approximately 500% to hit $0.4835 in December 2024. Since that swing high, Dogecoin dropped to a low of $0.1315 in April 2025. Tardigrade’s chart suggests a bottom is now in. Dogecoin has already recovered significantly from this low and is currently trading at $0.22747. Tardigrade suggests that the rally’s completion could see DOGE surpass its all-time high of $0.73, potentially reaching the long-awaited $1 level. According to him, Dogecoin is “ready for blast-off,” as the launchpad has already been built.

Market watcher Akbar Karimzsfeh expressed a similar sentiment in a separate analysis. However, he believes Dogecoin’s potential to surpass its previous peak hinges on a successful push above the $0.49 level, the area where DOGE faced resistance in December. While he acknowledges that Dogecoin is flashing a mix of explosive patterns, he still urges caution. The analyst's forecast suggests that Dogecoin could potentially reach the $1 level, but this remains speculative and depends on various market factors.