As the cryptocurrency market rallies with Ethereum outpacing Bitcoin, the spotlight is back on Dogecoin (DOGE). The popular meme coin has surged past the $0.20 mark, raising questions about its potential to reclaim its 2021 highs. With a market cap now exceeding $29 billion, traders are keenly monitoring Dogecoin’s next move.
Analysts Predict Breakout to $1
Crypto analyst Maelius Crypto recently called Dogecoin “incredible” despite its recent drop below key support levels. According to Maelius, DOGE has bounced off its 200-week EMA and a critical demand zone between $0.11 and $0.20, forming a potential breakout pattern. The analyst suggests that DOGE could surge to $1 after a brief correction, with further upside targets of $1.30 to $1.70 in the longer term.
$DOGE looks incredible here, despite the fact it went lower as I initially expected (was expecting EMA50 to hold).
— Maelius (@MaeliusCrypto) May 8, 2025
Respecting major demand area, EMA200 as well as diagonal support and it seems like 1,2,1,2 is completed and now we head for 3rd EW (within larger 3rd).
1W WTO… pic.twitter.com/b5s7qkJ3KJ
Similarly, analyst Ali Martinez highlights a trendline that has been supporting Dogecoin since October 2024. He suggests that a dip to $0.14 could present a buying opportunity before a rebound to $0.30. Meanwhile, analyst Javon Marks is eyeing a potential recovery to $0.65, noting that DOGE’s recent price action aligns with classic Elliott Wave patterns.
$DOGE looks incredible here, despite the fact it went lower as I initially expected (was expecting EMA50 to hold).
— Maelius (@MaeliusCrypto) May 8, 2025
Respecting major demand area, EMA200 as well as diagonal support and it seems like 1,2,1,2 is completed and now we head for 3rd EW (within larger 3rd).
1W WTO… pic.twitter.com/b5s7qkJ3KJ
Could DOGE Hit $13.4? Long-Term Price Predictions
While the $1 target remains the short-term focus, some analysts are looking further ahead. Dogecoin’s recent resurgence has fueled speculation about its market cap potentially reaching $500 billion, $1 trillion, or even $2 trillion in the coming years. If those projections hold, DOGE could theoretically reach as high as $13.4 per coin by 2033 to 2040. However, such predictions hinge on broader market trends, increased adoption, and sustained investor interest.
For now, all eyes remain on DOGE’s next move as it seeks to solidify its place in the ongoing altcoin season. Will the meme coin finally hit $1, or is another correction imminent? Stay tuned.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Dogecoin Eyes $0.20 Breakout as 67% of Binance Traders Go Long — Will the Bull Run Hold?
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
