Dogecoin Surges 7.2% as Analysts Predict Major Breakout

Dogecoin, a popular meme-coin, has been in a consolidation phase for nearly three years following its 2021 peak. However, recent analysis suggests that the cryptocurrency may be poised to break out of this range. The pseudonymous analyst Maelius (@MaeliusCrypto) shared a weekly chart on X, highlighting key technical indicators that support this optimistic outlook.

The DOGE/USDT pair on Binance is currently trading at $0.1828, marking a 7.2% increase for the week. Two significant moving averages frame the current price structure: the 50-week exponential moving average (EMA-50) at $0.203 and the rising 200-week EMA (EMA-200) at $0.138. While the price briefly dipped below the EMA-50 earlier this year, it has maintained support above the EMA-200, which is situated within a broad demand zone ranging from $0.11 to $0.20.

An additional layer of support is provided by an ascending trend-line that connects the swing-lows from October 2023, August 2024, and April 2025. The most recent pullback bounced almost precisely at the intersection of this trend-line, the EMA-200, and the lower edge of the demand zone, creating a triple confluence that technicians often view as a strong support level.

Maelius' analysis is based on a nested 1-2, 1-2 Elliott Wave count. The first "1-2" sequence began with a surge to approximately $0.2288 in March 2024, retraced to $0.0805 in August 2024, and then ignited a larger impulsive leg that peaked near $0.4843 in December 2024. The corrective follow-through to $0.1298 in April 2025 completed the second "2".

According to Elliott Wave theory, two consecutive 1-2 structures set the stage for wave 3 of (3), which is historically the longest and steepest portion of an impulse. Maelius predicts that the coming third wave will push DOGE to roughly $1, followed by a correctional fourth wave below $0.70. The fifth wave is forecasted to reach its climax somewhere between $1.30 and $1.70.

The WaveTrend Oscillator (WTO), a momentum indicator, shows a bullish cycle beginning when the faster line crosses above the slower one from oversold territory. This cross has just occurred on the 1-week timeframe for the first time since the August 2024 low, with the histogram shifting from deep red to neutral grey, echoing similar transitions that preceded Dogecoin’s previous vertical advances.

In summary, the chart indicates a market holding a multi-year demand block, trading above its 200-week EMA, testing its 50-week EMA, and exhibiting fresh bullish momentum. These conditions align with the technical criteria that analysts look for when identifying the start of a primary trend leg. Maelius concludes that DOGE looks incredibly positioned here, respecting major demand areas, the EMA-200, and diagonal support, suggesting that the 1-2, 1-2 structure is completed and the market is now heading for the third Elliott Wave within a larger third wave.