Dogecoin price may be set to explode soon, according to one prominent analyst.
“This may be your last chance before exploding to the upside!!” Highly followed market analyst “CobraVanguard” wrote about DOGE in a recent TradingView idea.
The analyst shared the memecoin’s daily chart, showing that it had retested a support level, coinciding with the 0.382 Fibonacci level that saw it bounce to highs of $0.43408 in January 2025. He had also predicted this initial January price bounce, albeit with a higher $0.47 target.
Citing the recent retest of this same level, CobraVanguard asserted that DOGE could surge to $0.32 and then $0.60, aligning with the 0.618 and 1.272 Fibonacci levels, respectively.
At the time of writing, these targets respectively represent 25% and 134% gains from the memecoin’s current price of $0.2569
Beyond the support level retest, the analyst also highlighted the appearance of a bullish divergence on the moving average convergence/divergence (MACD), used to identify price trends and entry points.
Meanwhile, CobraVanguard is not the only analyst to suggest that a potential DOGE rally will leave many behind.
“DOGE Season”
“Trader Tardigrade” recently asserted that the memecoin was in the middle of what he termed “DOGE Season,” adding, “You can’t chase it once it starts moving.”
The analyst made this claim, highlighting DOGE’s historical bull market performance. It has typically experienced an explosive rally punctuated by a months-long correction.
Indeed, the memecoin appears to be the throes of such a correction. The asset has dropped about 58% from highs of about $0.48434 to lows of $0.20178.
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