Dogecoin’s Explosive Pattern Signals $1.1 Breakout: Is It Time?

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March 17, 2025 by Mishal Ali

Key Takeaways

Dogecoin’s current pattern closely mirrors its 2017 bull run, with potential for a similar surge.
A Doji candle on the weekly chart suggests a trend reversal, hinting at an upcoming uptrend.
Historical cycles indicate Dogecoin may soon enter the next phase of its parabolic rise.

Dogecoin’s price action has caused controversy among traders, comparing it to its 2017 bull market cycle. Analyst Master Kenobi note that the previous bull market had two nearly identical value and duration increases.

Using this historical comparison, traders have also plotted the current price cycle, marking important points with parallel lines. This would mean that if history is to repeat itself, DOGE can see a major upward move, potentially reaching $1.1 by early June.

The synchronization of the recent price action with that of the prior cycle has created speculation of a similar outcome, but nothing is guaranteed.

The analysis refers to the 200-day simple moving average (SMA) as the significant support level. Dogecoin hit its local bottom in 2017 when it touched this indicator before starting a parabolic rise.

The same pattern appears to be unfolding now, once again confirming that the meme coin may be entering a new phase of its bull run.

Doji Candle Strengthens Bullish Case for Dogecoin

Technical patterns continue to support bullish arguments for Dogecoin. A recent weekly candle pattern closed out with a Doji, which is commonly associated with market indecision and trend reversals.

Historically, a Doji at key support levels has been preceded by price bursts, and in Dogecoin’s case, the identical setup was established before its recent large upward thrust.

Market participants are now looking at the possibility of an immediate uptrend. The Doji pattern, as well as the overall market structure, suggests that the bearish momentum might be losing strength.

If the buyers enter at these levels, Dogecoin can affirm a reversal and embark on its next leg up.

Historical Cycles Hint at a Parabolic Move

The price action of Dogecoin has shown a repetitive pattern, particularly when it is close to a significant support level marked by white trend lines.

According to analyst Dima Potts, previous cycles show that every four years, the meme coin hard bounces from these levels, typically leading to a parabolic rally. With Dogecoin once again trading near this support, traders think the market could be setting up for another parabolic move.

The 2021 rally followed the same, with Dogecoin pumping after reaching the lower end of this historical range. If the pattern holds, the market could be moving into phase two of its bull run, with a massive price increase waiting in the wings over the coming months.

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