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HomeCrypto NewsMarketExpert Predicts Timeline for Dogecoin to Reach $2

Expert Predicts Timeline for Dogecoin to Reach $2

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A notable market analyst predicts a potential reversal for Dogecoin based on the meme coin’s buying zone but advises focusing on smaller price targets first.

Dogecoin (DOGE) has experienced a clear short-term decline, with its price falling from roughly $0.25 on May 23 to just above $0.20. Despite this downward trend, technical analysts on TradingView present insights suggesting a possible reversal and significant gains.

Consolidation Phase and Key Support Zones

The recent price action shows Dogecoin moving sideways within a defined range. According to a TradingView account labelled as Setupsfx_, this consolidation has made trading difficult, as the lack of a clear trend often results in uncertainty. The chart highlights phases such as distribution and accumulation, where selling pressure once dominated before buyers stepped in. 

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Screenshot 2025 05 30T112955428
Dogecoin Price Prediction

The analyst points out a descending trendline dating back to March last year, as DOGE dropped from the $0.22 high at the time. This trendline repeatedly capped upward price attempts, including around $0.14 in July.

Meanwhile, between June and October 2024, Dogecoin underwent an accumulation phase, eventually breaking out to peak near $0.46 in December on the back of the Trump-induced market-wide rally. Following that peak, prices declined, with DOGE now reaching the previous accumulation zone around $0.12.

Currently, Dogecoin trades just above a buying zone between $0.16 and $0.20. This level aligns above the 2024 accumulation period. The analyst expects a possible minor dip into this zone before a significant rebound. This support range could serve as a foundation for future upward movement.

When Dogecoin Can Reach $2

In his analysis, the market watcher forecasts a potential Dogecoin price surge to $2 by the end of this year following a breakout. From the current price of around $0.20, DOGE would need to rise nearly 900% to claim $2.

However, the analyst advises caution, recommending traders focus on smaller, interim price targets. Reaching the $2 level may take several months or even years, according to the analyst. 

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Cup and Handle Pattern Suggests Further Upside

In addition to Setupsfx_’s analysis, another TradingView contributor, Aram Salimi, identifies a long-term Cup and Handle pattern on Dogecoin’s chart. This formation began around May 2021, when DOGE traded above $0.70 before gradually declining to roughly $0.05 in late 2022 and early 2023. The rounded base of the cup formed during this period, signaling a slow recovery as prices rose again.

By early 2025, Dogecoin returned to the $0.22–$0.25 range, forming the right side of the cup. Recently, the handle—a slight pullback from resistance—has completed. Analysts often view this pattern as a consolidation phase before a breakout. The price now tests resistance near $0.25, supported by increasing trading volume.

According to Salimi’s projection, a breakout above $0.25 could push Dogecoin toward $0.45 and $0.50. Longer-term targets based on this formation reach as high as $2.50, suggesting potential for a substantial price surge if the pattern confirms.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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