Dogecoin (DOGE) could be on the verge of a major price explosion, with CobraVanguard, a market analyst predicting a 134% surge for the popular memecoin.
As Bitcoin’s momentum stabilises and altcoins begin to show strength, DOGE is emerging as a key contender for a significant breakout.
The cryptocurrency has been trading within a crucial range, with technical indicators signalling a potential rally.
Historical patterns suggest that Dogecoin often undergoes long periods of consolidation before experiencing rapid price movements.
A well-followed analyst believes DOGE is in the middle of such a cycle, pointing to Fibonacci retracement levels and a bullish divergence on the moving average convergence divergence (MACD) indicator as signs of an imminent price surge.
With growing anticipation of an altcoin rally, could DOGE be preparing for a major upside move?
Analyst sees 134% DOGE rally
Dogecoin has been trading around $0.2718, and market analysts suggest it may soon break out of its current range.
Source: CoinMarketCap
A widely followed analyst has identified a retest of a critical support level, aligning with the 0.382 Fibonacci retracement level, which previously acted as a launchpad for a rally to $0.43408 in January 2025.
The same setup is now in play, with the analyst forecasting potential price targets of $0.32 and $0.60, representing 25% and 134% gains, respectively.
Another key indicator supporting this bullish outlook is the MACD, a widely used tool to identify price trends and momentum shifts.
A bullish divergence on the MACD suggests that despite the recent pullback, DOGE could be poised for a strong move to the upside.
Historically, Dogecoin has seen sharp rallies after extended consolidation phases, and current market conditions indicate that such a move may be approaching.
DOGE cycles suggest explosive growth
Dogecoin’s price movements have followed a recurring pattern, with prolonged periods of low volatility followed by sudden surges.
This cyclical behaviour has been evident in previous market cycles, where DOGE has posted gains exceeding 1,000% within weeks.
Another analyst has labelled this phase as “DOGE Season,” arguing that once the asset starts its uptrend, it becomes difficult to chase.
This perspective is supported by historical data showing that Dogecoin has repeatedly undergone steep corrections before embarking on exponential rallies.
The memecoin has declined by 58% from its recent high of $0.48434 to a low of $0.20178, mirroring similar retracements before past breakouts.
Market trends support a rally
Dogecoin’s performance often aligns with broader cryptocurrency market trends, particularly Bitcoin’s price movements.
As Bitcoin stabilises above key support levels, the altcoin market has started to gain traction. If Bitcoin resumes its uptrend, it could provide additional bullish momentum for DOGE.
Another factor contributing to the growing optimism around Dogecoin is increased adoption and whale activity.
Large transactions on the Dogecoin network have been rising, often a precursor to major price movements. In previous cycles, surges in whale transactions have coincided with significant price rallies.
As the memecoin market gains renewed interest, the question remains: will Dogecoin repeat its historical trend and surge to new highs?
With technical indicators flashing bullish signals and market sentiment improving, DOGE could be gearing up for an explosive move in the coming weeks.
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