“Send Dogecoin to Parabolic Phase,” Analyst Charges, Targeting $1.5 This Cycle

Expert analyst Trader Tardigrade is eyeing a Dogecoin parabolic phase for higher gains this cycle.

This prediction notably comes when Dogecoin has been struggling to recover its weekly losses. Since the start of this month, DOGE has seen massive fluctuations, hovering between $0.245 and $0.27. 

The largest meme coin by market cap is now trading at $0.2489, a 1.5% surge in the past 24 hours amid a 1.8% decline in seven days. Despite the weekly losses, an analyst on X, Trader Tardigrade, is eyeing this cycle’s parabolic phase for further gains.

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Dogecoin Historical Phases

The chart shared by Tardigrade shows the historical price movements and projections for Dogecoin. Specifically, it indicates that Dogecoin typically follows three phases in its price action, namely consolidation, slow-bull, and parabolic phases.

For context, at the beginning of the chart, labeled as the Consolidation Phase, Dogecoin’s price remains relatively stable. Per the chart, Dogecoin started this phase around mid-June 2022, when the price was hovering above $0.05. 

During this phase, the price fluctuated, even surging over $0.1 in early November 2022, but the bulls were not strong enough. Notably, this phase lasted till mid-October 2023, ending with a price below $0.06.

As Dogecoin exited the consolidation phase, it entered the Slow-Bull Phase from mid-October 2023. This phase saw Dogecoin surge to a peak at about $0.2288 on March 25, 2024, although it retraced to $0.09 by August 5 that year. 

Interestingly, after that, it peaked again at $0.46 on December 9, but again the bears overpowered the bulls and took Dogecoin back to $0.14 by April 9, 2025.

Parabolic Phase and Potential Target

Following the April 9 bottom, the price of DOGE has been rising gradually, albeit with fluctuations. However, from here, the upward momentum was not as dramatic as the earlier action. 

According to the analyst, the next phase ahead is the parabolic phase, which he anticipates might take DOGE to levels above $1.5. Notably, Dogecoin would need to surge by approximately 502.45% to rise from $0.2489 to $1.50. 

Recall, on October 3, Trader Tardigrade mentioned that Dogecoin had already entered the parabolic phase of this cycle. He also identified a “nice” pattern on Dogecoin’s 4-hour chart on October 7, which could take DOGE to $0.29.

Other Analysts Remain Bullish

Amid Trader Tardigrade’s anticipation, other bullish predictions for Dogecoin still exist. A recent analysis from Bithereum_io on October 5 highlighted a potential breakout for Dogecoin as it formed a tightening symmetrical triangle on the daily chart. 

This pattern, which often precedes significant price movements, suggests that Dogecoin could target its December 2024 highs if it breaks upwards. 

The analyst has recommended considering Dogecoin as a buy at its current levels, noting that if the breakout occurs, initial price targets could push the coin to $0.298. Other potential targets include $0.337, $0.394, and even $0.466.

Despite the overall bullish outlook, there’s a cautionary note regarding a possible correction. The analyst pointed out that Dogecoin could dip further to test key support zones between $0.220 and $0.209, which align with the 200-day SMA currently at $0.204.