**Despite Recent Market Challenges, Dogecoin May Be Set for a Major Price Surge**
A well-known crypto analyst believes that, despite the recent downturn across the cryptocurrency market, Dogecoin, the original meme coin, could be on the verge of a significant price rebound. The analyst points out that the latest price pullback has created a nearly perfect cup-and-handle pattern on Dogecoin’s price chart. This bullish setup suggests that a sustained rally towards $5 could be on the horizon.
## Mapping Dogecoin’s Road to $5
In a post on the X social media platform this Tuesday, crypto strategist CryptoELITES highlighted that a “big move” is already in motion for Dogecoin. Accompanying his analysis, he shared a DOGE price chart that illustrates the formation of a cup-and-handle pattern. This setup is a bullish technical formation that occurs when the price initially drops, followed by a U-shaped recovery that resembles a “cup.” This recovery is then succeeded by a consolidation phase, which appears as a “handle.”
In technical analysis, this pattern typically resolves when the price breaks above the handle, potentially rising by the maximum distance between the cup’s trough and the neckline. A successful breakout from a cup-and-handle pattern can lead to a dramatic price increase, as it confirms a trend bottom followed by a higher sideways consolidation during its formation. This positions Dogecoin’s cup-and-handle breakout target at approximately $5, representing an increase of over 2,300% from current price levels.
## Analyst Predicts Major Breakout for DOGE in 2025
Meanwhile, analyst Trader Tardigrade has suggested that Dogecoin is nearing a potential breakout that could push its price into double digits, indicating that the $5 prediction may be quite conservative. In a post on X dated February 25, Trader Tardigrade asserted that a remarkable 4,635% rally to $10 DOGE is achievable this cycle, based on historical trends.
His analysis reveals that Dogecoin has historically experienced significant price corrections just before embarking on a “super HUGE bull run.” He noted that the meme coin followed a similar trajectory in 2017 and 2021, experiencing declines of 60% and 56%, respectively. However, following these corrections, DOGE saw substantial price increases, with eruptions of 8,900% and 30,500% in 2017 and 2021, respectively.
Tardigrade emphasized that Dogecoin has recently completed a 50% retreat from its January high and has successfully retested the levels from which the structure broke. Consequently, he believes that the next target for this beloved asset is $10.
