Dogecoin Predicted to Reach $4.13 as Bullish Trends Emerge

Cantonese Cat, a pseudonymous technician, has predicted that Dogecoin's next directional break will be upwards, potentially reaching $4.13 before the current cycle tops out. This prediction comes after a six-month consolidation phase, which the analyst views as a coil rather than a coffin for the meme-coin. The analyst's video, released on 19 June, marshals multiple time-frame evidence to support this bullish outlook.

The analyst begins by addressing the sentiment surrounding Dogecoin, noting that retail comment threads have turned caustic due to the price slipping from last autumn’s spike and then “doing nothing for months.” However, he argues that such fatigue is precisely what bull-market retracements are meant to produce. He believes that the current trend is still bullish until proven otherwise.

At the highest zoom level, Dogecoin is tracing what the analyst calls “a cup and handle” pattern. The first thrust of that handle halted almost exactly at the 0.786 Fibonacci retracement of the 2022–24 bear range, a very important Fibonacci level. The pullback found support at the 0.382 level, which is an important zone of a double bottom formation. The market is therefore testing, not violating, an historically powerful neckline.

On the monthly chart, Dogecoin sits beneath a thick Ichimoku cloud. Two breakout attempts have failed, producing a pair of wicks that look ominous to casual chart watchers. However, the analyst disagrees and believes that a third time will be the charm. Beneath the cloud, six consecutive monthly candles have nested entirely inside the tall green bar printed last November. The analyst interprets this formation as latency building for a violent move.

This compression is mirrored on the weekly time frame, where six inside candles indicate that there is not much bearish energy left. The analyst believes that the market is closer to the bottom than the top. Key structural support is supplied by a rising 20-month simple moving average, now at $0.1737. The slope is still positive, and historically, such combinations resolve in favor of the trend.

The analyst argues that price action is meaningless without context. He notes that there is no selling volume on major exchanges like Coinbase and Binance, concluding that supply overhang has vaporized and only demand is required to propel a reversal. Twice before—in July 2023 and February 2024—identical volume droughts preceded V-shaped rallies.

Daily-chart oscillators are beginning to corroborate the structural read. Dogecoin has just registered what the analyst labels a “treasure bottom”—a localised capitulation whose candle body is far smaller than its wick. The relative-strength index has exhibited bullish divergence, with price etching lower lows while RSI turns higher. The pattern repeated in March 2024 and appears again today, suggesting a potential trend change.

Should volume arrive and price claw back through the 0.5 and 0.618 retracements, the analyst’s Fibonacci ladders flag successive targets. From the Binance dataset, the targets are $1.60, $2.26, and $4.13. A composite feed of multiple exchanges tweaks the numbers to $1.50, $2.27, and $3.94. The analyst does not foresee a reprise of 2021’s parabolic blow-off but believes that a quarter- to half-trillion-dollar capitalization remains possible given current monetary expansion.

The analyst interprets the community’s malaise as a contrarian gift, with inside-bar ranges serving as a simple trigger. A close above the six-month range high would unlock the primary up-trend’s next leg. Conversely, a close below the 20-month average might delay but not necessarily invalidate the thesis, provided the moving average itself keeps rising.

Across every lens—the macro cup-and-handle, the Adam-and-Eve neckline test, Ichimoku resistance, 20-month moving average support, volume exhaustion, daily bullish divergence—the weight of evidence converges on a bullish outcome. The analyst concedes that timing is unknowable but believes that none of the data justify capitulation. He closes with the maxim he repeats three times in the broadcast: “The trend is your friend, and the trend is up.” If that view holds, Dogecoin’s dormant coil may eventually unwind toward the analyst’s most ambitious extension at $4.13—a level unthinkable to today’s demoralized sellers, and precisely for that reason, he argues, still within reach.