Dogecoin’s price chart hints at a big bullish move ahead, with one analyst predicting a 600% jump to $1.4 in the coming months.
His prediction relies upon a broadening wedge chart pattern, while several other analysts have backed up his bullish outlook with further evidence that $DOGE is breaking out.
As enthusiasm builds, some traders are exploring Dogecoin alternatives that could rise alongside it. One example is Maxi Doge, a presale that has raised $350,000 in its first five days – an impressive feat given the recent challenges faced by the broader market.
Could we see $MAXI skyrocket as Dogecoin begins its rally?
Dogecoin Broadening Wedge Pattern Targets $1.4
Currently trading at $0.2, Dogecoin has retraced 58% from its late 2024 peak of $0.48 and is also down 72% from its 2021 all-time high (ATH) of $0.73.
But there’s finally some good news: analyst Trader Tardigrade (76.5K X followers) speculated that $DOGE has finished the final leg down in a broadening wedge pattern and will now begin the last leg up.
A broadening wedge pattern is a chart formation with diverging support and resistance levels, indicating increased volatility with each retest. Therefore, the bounce from support suggests that the next rally could be the biggest yet, with the analyst eyeing a move to $1.4.
“Dogecoin is moving within an ascending broadening wedge. The next target at the top of the wedge is set at $1.4,” he said.
More Traders Back $DOGE for Bullish Momentum
Adding confirmation to Trader Tardigrade’s analysis, other respected traders have spotted breakout patterns on the $DOGE chart that signify bullish momentum.
For example, Galaxy (113K followers on X) highlighted that Dogecoin has turned a trendline resistance into support, indicating a shift away from bearish momentum and opening the door for possible price increases.
Meanwhile, futures trader Metzy points out that Dogecoin has formed a higher high after testing the long-standing $0.15 support zone, another sign of brewing bullish momentum.
After falling over 50% from its 2024 highs, optimism for Dogecoin is resurging. Sellers appear to be exhausted, allowing bulls to regain market control. Last month, it reached a higher high of $0.27, and top traders believe an even more parabolic move could be imminent.
If this occurs, it would create a bullish outlook for the wider meme coin market and propel new projects like Maxi Doge toward significant gains.
Why This Analyst Backs Maxi Doge for 100X Returns in 2025
While Dogecoin still maintains market appeal, there has been a major shift in the meme coin sector as Dogecoin’s “do only good every day” philosophy fades and degens step in to fill the gap.
Maxi Doge is the new Dogecoin meme coin, reimagined for 2025 degen culture. It abandons “do only good every day,” risk management, and touching grass; it’s all about chasing pumps at the gym and on the charts.
The project’s website tells a story of a revenge arc where Maxi Doge has been watching from the sidelines since 2017 while his older doge cousins got rich. But he’s been lifting weights, studying green candles, and now he’s ready to take over.
He’s the top of the doge lineage, the gym-bro degen here to boost holder value through pure memetics.
Maxi Doge is smartly positioned as the degen alternative to Dogecoin, offering a fresh and unique twist that could attract many $DOGE holders.
Because of this, analysts are backing $MAXI for big gains, with RJ from Cryptonews even saying it “could be the next 100x meme coin gem.”
And with its presale ongoing, investors have the opportunity to buy $MAXI from the very beginning.
The presale has already raised $350,000, showing strong market interest and the potential for long-term gains.
This article is not intended as financial advice. Educational purposes only.
