Dogecoin (DOGE) Price Prediction: Renowned Crypto Analyst Projects Stunning 500% Surge

Dogecoin price showed some life on April 21 after jumping 4.7% in 24 hours to trade at $0.1618. This spike came in the wake of Bitcoin's own rally, which saw BTC break above the $87400 mark.

Key Highlights

* Dogecoin price showed some life on April 21 after jumping 4.7% in 24 hours to trade at $0.1618. This spike came in the wake of Bitcoin’s own rally, which saw BTC break above the $87,400 mark.

* However, a daring new prediction from a renowned cryptocurrency analyst that calls for a stunning 500% surge in DOGE is what has people talking.

* Charting expert ‘Steph’ took to X to share the forecast, which is based on a recurring pattern observed in the meme coin’s price behaviour.

Analyst Predicts 500% Price Increases for Dogecoin

”One push-pull period took 129 days (mid-December to around mid-April). The second push-pull period glimmed for 129 days (around mid-April to around late August). Both periods saw the price go parabolic after breaking the consolidation zone.”

“The first period saw the the price of DOGE go parabolic after breaking the consolidation zone, reaching around $0.43, a whopping 501% increase since the breakout, before correcting to around $0.13.”

“This ‘bottom signal’ foreshadows another explosive rally, setting the stage for a move toward $0.90, which is 501.60% higher than current levels.”

Dogecoin Price Analysis: Bearish Clouds Parting for a Bullish Moonshot?

Dogecoin is staging a comeback. After a bearish beatdown, the 12-hour chart shows DOGE carving higher lows near the $0.147–$0.152 demand zone, signalling smart money is scooping up cheap coins.

The price is still tussling below the 50-day simple moving average (SMA) but toward the $0.17-$0.18 zone. This level acts as the next immediate major resistance that has rejected bulls multiple times. However, strong rejection wicks and small-bodied candles scream a breakout is brewing.

The relative strength index (RSI) at 53.54 indicates slightly bullish vibes, with room to surge higher. According to data from Coingecko, the trading volume is picking up on green candles, but DOGE needs a spike to confirm a move above $0.165.

Traders who go long at $0.166 can aim for $0.18-$0.20 in the short term. However, in the long term, a break above this range with volume could send the Dogecoin price to $0.259, 40% gains from the current price.

Futures Traders Are Going Long on DOGE

Over on Coinglass, data reveals that open interest in Dogecoin futures is rising alongside the price. That typically means traders are opening long positions, adding more fuel to the rally.