Trader Tardigrade sees Dogecoin in a “Boring Phase,” predicting a breakout past $1.30 in the coming weeks.
Dogecoin has remained highly volatile, responding to broader market trends and community-driven cycles, with the price action hovering around $0.25.
Despite a 31.2% decline in the past month, the asset has posted a 198.3% yearly increase, reflecting long-term momentum. Analysts, including Trader Tardigrade, are monitoring its price movement closely, expecting significant surges in 2025.
Potential Surge in DOGE Price
Dogecoin’s current consolidation phase, described as a “Boring Phase” by the pseudonymous analyst Trader Tardigrade, mirrors a past cycle. For context, between December 2024 and February 2025, the asset has traded within a range of $0.2 to $0.3.
A similar period of stagnation occurred in June-November 2017 before Dogecoin experienced a nearly 15-fold surge, reaching $0.015 within two months.
Based on historical trends, the analyst suggests a major price breakout could follow this current phase. He projects a breakout exceeding $1.30 post-March 2025.
Elliott Wave Analysis Suggests Bullish Outlook
Other market analysts, including Doge Lord, anticipate an extended rally for Dogecoin. One observer highlighted an Elliott Wave structure, pointing to a substantial increase. According to this analysis, Dogecoin initiated a five-wave Elliott Wave pattern in January 2024.
The first wave saw the asset climb to $0.2288 by March 2024, followed by a decline to $0.0805 in August 2024 during Wave 2. Subsequently, Wave 3 propelled the price to a four-year high of $0.4843 in December 2024.
Despite a major correction, Dogecoin remains within the third wave. Doge Lord’s analysis anticipates a rebound toward the Fibonacci 1 level. This aligns with a projected all-time high of $1.1293, marking the completion of Wave 3.
Meanwhile, a fourth-wave pullback could bring Dogecoin below $1, potentially reaching $0.7702 before finding support. Per the analyst, the final wave could push the price toward the 1.618 Fibonacci extension level, aligning with a target of $6.08.
Dogecoin Long-Term Potential
Other analysts maintain a bullish outlook, viewing recent price declines as a buying opportunity. A prominent analyst, XForceGlobal, has emphasized Dogecoin’s historical performance and cyclical patterns, indicating a strong possibility of a significant uptrend.
Meanwhile, a February 18 analysis from the Korean Elliott Wave-certified expert suggested that Dogecoin’s price action aligns with previous cycles, reinforcing expectations for a 5x to 10x increase.
