**Exciting Times Ahead for Dogecoin: Analysts Predict Major Rally**
Recent insights indicate that Dogecoin’s correction phase may be coming to a close, with the potential for an impressive 2,270% rally on the horizon. The bearish trend that has plagued the meme coin since the beginning of the year could soon shift, as market analyst CryptoELITES hints at an upcoming rebound. In a recent post on X, he forecasted significant movement for Dogecoin and outlined its new target in the near future.
**Big Moves for Dogecoin?**
CryptoELITES believes Dogecoin is primed for substantial gains, setting a target of $5. He points to the asset’s nearing bullish structure retest as a catalyst for this remarkable 2,270% upswing. A chart accompanying his analysis reveals that DOGE broke out of a classic cup-and-handle pattern in November, following a remarkable upward surge to an intra-month high of $0.4804. However, the asset has since experienced a pullback and consolidation, possibly retesting the neckline of the structure before continuing its bullish trajectory.
**Dogecoin to $2.7/CryptoELITES**
The analyst also mentioned that a trend reversal is on the brink, sharing three targets for the anticipated bullish movement of DOGE. His chart suggests that the popular meme coin is set to initiate a 255% uptrend to $0.75, slightly surpassing the 2021 all-time high. Additionally, he expects this upward trend to continue, confidently reaching a second target of $1.5. Ultimately, CryptoELITES envisions a 2,270% rally from the current market price to $5 as the final target for the asset’s breakout from the cup-and-handle structure.
**Analyst Shares Even More Bullish Price Outlook**
Meanwhile, market observer Trader Tardigrade has proposed that the $5 target may be conservative when considering Dogecoin’s bullish potential. In a related tweet, he predicted a staggering 4,640% surge to $10 per coin in this cycle. Tardigrade noted that DOGE appears to follow a cyclical pattern of significant retracement followed by a “super huge bull run.” An attached chart illustrates that the dog-themed meme coin exhibited a similar pattern in 2017 and 2021, retracing 60% and 56%, respectively.
**Dogecoin’s Historical Retracement/Trader Tardigrade**
Despite these pullbacks, the asset experienced remarkable surges afterward, with price increases of 8,900% and 30,500% in those years. Tardigrade emphasized that Dogecoin has completed a 57% pullback from its January high and has successfully retested the levels from which it broke structure. Consequently, the asset’s next target is a price surge to unprecedented heights, with his chart indicating a 4,640% increase to $10 per coin.
**More Bulls Bet on a Dogecoin Rebound**
In addition, other analysts remain optimistic about Dogecoin, even in light of its recent underperformance. Their attention is drawn to the asset’s increasing institutional adoption and historical performance. For example, analyst Dima Potts recently forecasted an ambitious 21,227% surge to $45, highlighting the growing enthusiasm surrounding Dogecoin’s future.
