Dogecoin Set to Skyrocket? Crypto Analyst Predicts Massive Price Surge!

Updated

May 21, 2025

Gambar Dogecoin Set to Skyrocket? Crypto Analyst Predicts Massive Price Surge!

Jakarta, Pintu News – Analysts predict a more than two-fold surge in the price of Dogecoin .

Jake Wujastyk sees a potential breakout from a descending triangle pattern, while Bitcoinsensus identifies an inverse head-and-shoulders pattern that supports an upside target to $0.42-$0.45. Both reinforce DOGE’s bullish outlook.

Analysts Predict DOGE Price to Double

A leading market analyst highlighted a very strong bullish pattern in Dogecoin’s chart, with a projected doubling in price despite the recent market correction.

Jake Wujastyk’s analysis shows that DOGE is on the verge of a significant upward breakout, even though the token is down about 7% in the current trading session.

#Dogecoin There's no way I couldn't take this trade with a chart that looks like this.

Target is a double here around 45 cents. pic.twitter.com/HxbrFVseiv
— Jake Wujastyk (@Jake__Wujastyk) May 18, 2025

“There is no reason not to take a Dogecoin trading position with a formation like this,” Wujastyk said in his comments on Sunday.

He was referring to the descending triangle pattern that started forming after Dogecoin rose to $0.26 on May 11. This pattern shows price movement between the upper resistance and lower support boundaries narrowing – usually the first sign of a major breakout.

Although today’s price drop has erased most of the gains from last week, DOGE is still moving within that wedge pattern, which means Wujastyk’s analysis is still relevant.

From the current position, he predicts a breakout that could push the upside up to 114%, which would take the price to the $0.45 level.

The target means that the price of DOGE could more than double from its current position of around $0.21, indicating significant upside potential if this pattern is confirmed.

Inverse Head-and-Shoulders Pattern Supports Dogecoin Bullish Prediction

Analysts from Bitcoinsensus also expressed a similarly optimistic view of Dogecoin, identifying an inverse head-and-shoulders pattern that has been forming since March.

Daily Trend Break Opportunity on $DOGE 🔥#Dogecoin has been slightly pulling back in a very healthy manner, preparing for the next major breakout💹

The anticipated breakout is expected to happen within the next 7 days, with a retest of the trendline for confirmation.

Next… pic.twitter.com/tykuWOfAbs
— Bitcoinsensus (@Bitcoinsensus) May 19, 2025

This pattern strengthens the argument for a potential surge in DOGE prices in the near future.

Based on the technical analysis, this pattern formed with the left shoulder at the March 11 low of $0.14, the head at the April 7 low of $0.13, and the right shoulder at the May 6 level of $0.16.

A breakout from this pattern pushed the price of DOGE closer to the medium-term resistance trend line, which has been the upper limit of price movement since its peak on December 8 at $0.48.

According to Bitcoinsensus, the momentum of the head-and-shoulders pattern that has formed has the potential to trigger a significant breakout in the next seven days, even if the price corrects from the supply zone.

The price target he estimates is in the range of $0.42 to $0.43-which is the next major supply zone. This projection suggests a potential upside of 100-104% from current price levels, and is very much in line with Wujastyk’s prediction.

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*Disclaimer

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