Dogecoin (DOGE) Outpaces Bitcoin (BTC) in Pre-Halving Market Euphoria

Dogecoin (DOGE) continued to trade steadily on Saturday following a historic week in the crypto markets that saw Bitcoin (BTC) surge to a new all-time high.

Dogecoin (CRYPTO: DOGE) continued to trade steadily on Saturday following a historic week in the crypto markets that saw Bitcoin (CRYPTO: BTC) surge to a new all-time high.

While BTC stole the spotlight this week, surging to a new all-time-high of $111,340, DOGE maintained a more measured pace, consolidating within a rising channel that has defined its structure over the past several months.

Despite the broader market euphoria, Dogecoin posted modest gains of around 32.45% over the past month and just over 4% this week, signaling cautious optimism among traders. Sentiment remains mixed but leaning bullish, as technical patterns hint at a potential breakout if momentum sustains.

On Friday crypto analyst Bitcoinsensus shared an analysis suggesting that Dogecoin could climb as high as $0.95, representing a +560% increase from its current price around $0.17. His post highlighted DOGE’s pattern of bull flag formations.

“Dogecoin Explosive Price Projection,” he tweeted Friday. “DOGE has been moving nicely within this uptrend structure, fueled by long-lasting bull flag channels. The first flag yielded a +90% return, the second +215%, and the third +440%. This fourth flag could potentially take the price of DOGE up to $0.95.”

Dogecoin price action with bull flag formations and fib levels. Could see a 4th flag push the price of $DOGE up to $0.95.

CoinsBeats previously reported that Bitcoinsensus' analysis follows a previous prediction in March, where he suggested a price target of $0.38 for Dogecoin. At the time, he applied the same bull flag technique to estimate the potential move.

However, some expressed skepticism towards such a lofty target, considering the enormity of the implied market cap for Dogecoin at that price level.

Another analyst, DimaPotts, shared his perspective on historical trends. He noted that in 2017, Dogecoin experienced a 94x rally after Bitcoin’s final weekly candle closed at its all-time high for the year. Similarly, in 2020, Dogecoin experienced an ≈190x rally from March 13th, which was the point of Bitcoin’s final weekly candle in 2019.

According to the pundit, if Bitcoin’s current breakout holds in 2025, Dogecoin may follow a similar explosive trajectory. However, he warned that price targets as high as $10, implying a $1.48 trillion market cap, remain unlikely in the current $2.66 trillion total crypto market context.

Meanwhile, CobraVanguard joined the bullish commentary with an AB=CD harmonic pattern analysis on Dogecoin’s 3-day chart, suggesting a price target of $0.65. This setup, if successful, would generate an estimated +347% gain from current levels.

$DOGE 3D chart.

We're currently in the CD leg of an AB=CD.

The pattern suggests a price target of $0.65.

We also have a key resistance at $0.38, which could launch a move to the 0.618 Fib level at $0.60-$0.65.

A breakout above the channel could continue the rally to $1.0.

Beyond charts and speculation, on-chain data also supports the bullish narrative. Recently, popular analyst Ali Martinez highlighted a dramatic spike in Dogecoin network activity on May 16.

Daily active addresses, transaction volumes, and whale participation have surged significantly, metrics often viewed as precursors to major price movements.

Most notably, whale activity has exploded, with over 1 billion DOGE purchased by large holders in the past month, and 127,570 active addresses now on the network, a sharp rise from February’s low of 66 whale transactions and under 60,000 addresses.

"Dogecoin (DOGE) network activity is heating up. In the past month alone, large holders have purchased over 1B DOGE. Today, we saw a surge in transactions and network activity. At the start of Feb., there were 66 whale transactions. Now, there are 127,570 active addresses."

That said, with technical indicators, historical cycles, and on-chain activity aligning, analysts believe Dogecoin could be poised for a major breakout. However, much still depends on Bitcoin’s ability to maintain its gains and broader altcoin market sentiment.

At press time, DOGE was still trading at $0.2266 down 7.60% over the 24-hour period.