$DOGE: Analyst Explains Why Dogecoin Could Surge to $2 by Early 2025

On
the
social
media
platform
X,
the
popular
pseudonymous
crypto
analyst
Kaleo
recently
shared
his
thoughts
on
the
future
of
Dogecoin
(DOGE).
His
analysis
delves
into
the
historical
performance
of
DOGE,
its
recent
trends,
and
potential
future
movements.

Kaleo
starts
by
acknowledging
the
sentiment
among
many
crypto
enthusiasts
that
Dogecoin
is
often
seen
as
boring.
He
points
out
that
for
the
majority
of
its
existence—approximately
9.5
years—DOGE
has
trended
sideways
or
downwards.
However,
he
highlights
two
significant
periods
where
Dogecoin
experienced
massive
surges:
one
with
a
6000%
increase
and
another
exceeding
30,000%.
These
explosive
movements
occurred
within
a
relatively
short
timeframe
compared
to
its
long
periods
of
stagnation.

According
to
Kaleo,
the
duration
Dogecoin
has
spent
moving
sideways
since
its
last
all-time
high
(ATH)
is
similar
to
the
previous
two
extended
sideways
ranges
before
breaking
out.
He
notes
that
in
each
of
those
past
instances,
it
took
about
8
to
9
months
after
Bitcoin’s
halving
before
Dogecoin
began
its
substantial
upward
movement.
Given
that
we
are
only
two
months
past
the
most
recent
Bitcoin
halving,
he
suggests
that
it
aligns
with
historical
trends
for
Dogecoin
to
potentially
break
out
around
December
to
February.

Kaleo
anticipates
that
before
any
significant
breakout,
Dogecoin
might
see
a
pullback
to
the
8-10
cents
range,
retracing
the
move
up
observed
in
February.
He
draws
parallels
to
a
similar
trend
break
and
drawdown
of
about
30%
that
happened
in
August
2020,
which
was
several
months
before
Dogecoin’s
mainstream
surge.
This
historical
pattern
leads
him
to
expect
a
possible
short-term
correction
before
the
next
major
rally.

Kaleo
admits
that
he
may
have
been
overeager
in
expecting
Dogecoin
to
catch
up
with
other
meme
coins
without
fully
considering
previous
cycles.
Despite
this,
he
maintains
a
bullish
long-term
outlook.
He
believes
we
are
currently
in
a
“meme
coin
supercycle”
and
expects
Dogecoin
to
eventually
reach
$1
to
$2.
However,
he
emphasizes
that
historical
trends
suggest
there
is
still
some
time
before
this
happens,
giving
investors
a
window
to
prepare.

In
a
video
update
released
earlier
today,
crypto
analyst
Kriss
Pax
provided
an
in-depth
analysis
of
Dogecoin’s
price
action,
looking
at
past
trends
and
forecasting
future
movements.

Pax
begins
by
acknowledging
that
June
was
a
challenging
month
for
Dogecoin,
Bitcoin,
and
other
cryptocurrencies.
He
says
several
factors
contributed
to
the
market
downturn,
including
Bitcoin
ETF
selling,
Bitcoin
miner
reserves
being
sold
to
meet
utility
bills,
and
global
events
like
Bitcoin
sales
by
Germany
and
the
United
States.
He
also
thinks
that
concerns
about
the
release
of
Mt.
Gox
Bitcoin
added
to
market
fears.

As
of
the
video’s
recording,
Pax
notes
that
Dogecoin
was
trading
around
12.25
cents.
According
to
Pax,
despite
some
significant
dips,
including
a
drop
to
12.05
cents,
the
market
showed
resilience
with
a
subsequent
recovery.
Pax
mentions
that
a
major
factor
in
this
recovery
was
a
substantial
Bitcoin
purchase
on
Binance,
which
he
claims
had
a
positive
ripple
effect
across
the
crypto
market.

Pax
highlights
several
key
technical
patterns
and
indicators.
He
points
out
that
since
mid-June,
Dogecoin
has
mostly
moved
sideways,
with
minor
fluctuations.
A
local
bottom
for
Dogecoin
was
identified
at
11.44
cents
during
a
live
stream.
He
adds
that
Bitcoin
closed
below
the
weekly
volume
point
of
control
for
three
consecutive
weeks
in
June,
but
there
is
potential
for
a
bullish
close
in
the
following
week.

Since
mid-June,
Pax
notes
that
Dogecoin
has
outperformed
Bitcoin
by
10%.
This
trend,
he
believes,
suggests
strength
in
Dogecoin
relative
to
Bitcoin,
a
positive
sign
for
DOGE
investors.

Furthermore,
according
to
Pax,
historically,
Bitcoin
has
seen
positive
returns
in
July
after
a
red
June,
with
three
out
of
the
last
four
years
following
this
pattern.
Pax
suggests
that
Bitcoin’s
historical
8%
average
increase
in
July
could
be
a
bullish
indicator
for
the
broader
crypto
market,
including
Dogecoin.

Pax
highlights
Dogecoin’s
current
position
around
its
200-week
moving
average,
indicating
potential
stability.
He
also
points
out
a
new
descending
wedge
pattern
forming,
extending
through
the
summer,
with
a
potential
breakout
towards
the
end
of
August.

For
July,
Pax
predicts
that
Dogecoin
will
continue
its
sideways
action
with
some
volatility.
He
anticipates
that
Dogecoin
could
test
its
support
level
at
11.85
cents
and
possibly
eclipse
13
cents
by
the
end
of
July.
His
conservative
estimate
for
Dogecoin’s
price
by
the
end
of
July
is
around
13
cents,
reflecting
a
potential
6%
gain.

Kriss
Pax
advises
investors
to
remain
patient
and
avoid
leveraging
their
positions
excessively.
He
emphasizes
the
importance
of
holding
spot
positions
and
not
capitulating
during
market
downturns.
He
expects
this
cautious
approach
to
help
investors
weather
the
volatile
summer
months
and
position
themselves
for
potential
gains
in
the
fall.

Looking
beyond
July,
Pax
sees
a
brighter
horizon
for
Dogecoin.
He
says
the
large
descending
wedge
pattern
suggests
a
significant
breakout
later
in
the
year,
aligning
with
broader
market
forecasts.
He
remains
optimistic
about
Dogecoin’s
long-term
potential
despite
the
current
market
challenges.

Featured
Image
via
Unsplash