Dogecoin (DOGE) Price May Be Set to Explode Soon, Analyst Claims

“This may be your last chance before exploding to the upside!!” Highly followed market analyst “CobraVanguard” wrote about DOGE in a recent TradingView idea.

One prominent analyst believes that the price of Dogecoin (CRYPTO: DOGE) may be set to explode higher soon.

In a recent TradingView idea about DOGE, the analyst, who goes by the name “CobraVanguard,” shared the memecoin’s daily chart, showing that it had retested a support level, coinciding with the 0.382 Fibonacci level that saw it bounce to highs of $0.43408 in January 2025.

The analyst had also predicted this initial January price bounce, albeit with a higher $0.47 target.

Now, highlighting the recent retest of this same level, CobraVanguard asserted that DOGE could surge to $0.32 and then $0.60, aligning with the 0.618 and 1.272 Fibonacci levels, respectively.

At the time of writing, these targets respectively represent 25% and 134% gains from the memecoin’s current price of $0.2569

suggesting that a potential DOGE rally will leave many behind.

“DOGE Season”

Earlier this month, another market analyst, who goes by the pseudonym “Trader Tardigrade,” suggested that the memecoin was in the middle of what he termed “DOGE Season.”

"You can't chase it once it starts moving," Tardigrade wrote in his commentary on DOGE’s price action.

The analyst went on to highlight DOGE’s historical bull market performance, adding that such bull markets for the memecoin have typically seen an explosive rally followed by a months-long correction.

Indeed, the memecoin appears to be the throes of such a correction, having dropped about 58% from highs of about $0.48434 to lows of $0.20178.

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