According to market reports, crypto analyst Crypto Patel has put forward bold targets for Dogecoin, saying the memecoin could reach $2 and $5 this cycle.
At the time of his post, DOGE was trading around $0.17, making those estimates equal to roughly 1,076% and over 2,800% gains from that level.
The call has drawn attention because it ties price hopes to repeating chart behavior rather than fresh fundamentals.
Chart Patterns And Historical Runs
According to the analyst’s charts, DOGE has formed a long-running descending triangle since its $0.75 peak in 2021. Traders are being shown a breakout followed by a retest pattern.
Reports point to similar setups in past rallies: in 2017 DOGE moved from about $0.00022 to $0.019 — roughly 9,800% — and in 2021 it climbed from about $0.0025 to $0.75, a surge of over 32,000%. Those runs are the basis for the “fractal confluence” argument that history could repeat.
A Recent Breakout, Retest Highlighted As Trigger
Based on reports, DOGE cleared the triangle in December 2024 during a US President Donald Trump-led crypto market boom, pushing above $0.48. The coin then came back to test the former trendline, which some traders call a normal step after a breakout.
Other analysts have flagged similarities between today’s action and the token’s early bull runs, and some see that as confirmation for more upside.
Short-Term Indicators Looking Up
Technical numbers show a nearer-term forecast of a rise of 13.51% to $0.2002 by December 12, 2025. Current readings described by data providers list sentiment as Bearish and the Fear & Greed Index at 20 (Fear).
Over the last 30 days DOGE had 13/30 (43%) green days and about 6.71% price volatility. Those numbers suggest that, for now, traders remain cautious even as longer-term charts are cited as bullish.
Bitwise DOGE ETF
Reports note that Bitwise moved forward with a DOGE ETF filing under Section 8(a) using CF Benchmarks’ settlement price, an action that could draw institutional interest if it progresses.
Meanwhile, on-chain snapshots indicate that large holders are trimming supply, while retail activity has ticked up and some momentum indicators have turned higher.
According to Bitwise, its fund would use the CF DOGE-Dollar Settlement Price from CF Benchmarks to calculate net asset value, which provides transparent, rules-based pricing across venues.
If approved, this structure could make DOGE more accessible to institutions needing a regulated vehicle, potentially boosting order book depth and easing inflows or outflows.
This increased access, combined with clearer pricing, could explain the recent movements in the market value of DOGE.
Featured image from Gemini, chart from TradingView
