Dogecoin (DOGE) is predicted to be on the edge of a fresh breakout as its price action replicates the same bullish wave that preceded its explosive rally in late 2024. After months of sideways movement and bearish pressure, the number one meme coin is showing renewed strength, hinting at the start of a significant upward cycle that could propel its price beyond the long-anticipated $1 target.
Dogecoin Predicted To Surge 591% To $1
According to a freshly released analysis by TradingView analyst Master Ananda, Dogecoin is exhibiting strong technical patterns that closely mirror its last major bullish breakout from November 2024. The analysis shows that it’s been over 217 days since the meme coin last delivered a powerful rally, yet it now stands at the brink of another explosive move. The projected Fibonacci extension targets place DOGE as high as $1.168, which would represent a 591% increase from current levels.
Notably, after the prolonged bear market that began following Dogecoin’s 2021 all-time high, the meme coin showed signs of life in early 2024, but the real momentum arrived late in 2024. This same setup is reemerging in mid-2025 in the current cycle. Since March, Master Ananda revealed that Dogecoin’s price action has entered a quiet phase with no significant gains but also no deep corrections, establishing a relatively stable foundation.
Notably, between May and June, the meme coin faced over eight weeks of bearish pressure, yet it maintained a critical mid-term higher low, signaling strength and accumulation. Over the last three consecutive weeks, Master Ananda’s chart shows that Dogecoin has printed green candles, and this week’s full-bodied green candle at the top signals that a breakout may be imminent.
The chart analysis draws clear parallels to October 2024 and early 2021—periods of low volatility that preceded parabolic rallies. If history repeats, Dogecoin could once again deliver astonishing returns, with predictions suggesting a rise to and beyond $1. Key Fibonacci resistance levels have been spotted around $0.212, $0.313, and finally, $0.394.
Dogecoin Targets $0.349 After Breaks Above EMA89
In a subsequent analysis report, Master Ananda revealed that Dogecoin has confirmed the start of a long-term bullish trend after successfully closing above the EMA89, signaling fresh growth and a shifting market structure in favor of bulls. Notably, this critical resistance level has been represented by the blue-dotted line on the daily chart.
The TradingView analyst has noted that the next key level to watch is the EMA233, which, once broken with a daily close, will further confirm sustained upward momentum and a complete transition into a long-term bullish phase. Dogecoin is currently trading around $0.2, with near-term targets set at $0.265 and $0.349. Both of these targets align with significant Fibonacci resistance zones and recent structural highs.
Featured image from Getty Images, chart from TradingView
